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Financial Armageddon!!

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  • Interesting extra insight detail on credit card spending.
    New Zealand grand total = 6 billion dollars.
    2 billion of which is paid in full each month.
    4 billion earning exorbitant interest for banks.

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    • What also makes me smile is that quite a few people think it is unsecured debt.
      If they have a mortgage with the same bank they might be in for a surprise.

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      • Originally posted by speights boy View Post
        What also makes me smile is that quite a few people think it is unsecured debt.
        If they have a mortgage with the same bank they might be in for a surprise.
        You just pay interest as if it isn't secured.

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        • NZ did not make it to the list





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          • Those graphs are from 2013.
            www.PropertyMinder.co.nz
            # Property Management
            # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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            • Latest report from McKinsey 2007 to 2014. NZ not even make it to top 47 countries.



              Source: Report

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              • Wow Singapore! 3rd on the list, and all I read is they are one of the most rich nations on earth??


                Singapore isn't just among the wealthiest countries in the world

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                • Originally posted by Gary Lin View Post
                  Wow Singapore! 3rd on the list, and all I read is they are one of the most rich nations on earth??
                  Haha! Good debt makes you very rich

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                  • Government debt is quite another matter, too. And those
                    columns are change in debt, not actual debt, for that time.

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                    • Originally posted by Perry View Post
                      Government debt is quite another matter, too. And those
                      columns are change in debt, not actual debt, for that time.
                      NZ actual household debt per capital will be lower than many countries...especially Ozi.

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                      • Source: Chris Hunt

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                        • Yip, it's about time to panic on the economic meltdown
                          10 August 2015
                          Originally posted by Stuff
                          Nah, it's all in the way you hold your mouth, so we must remember to keep singing the
                          Glad song, be good and loyal Pollyannas and display ostrich-like behaviour and continue
                          to stick our heads in the sand.

                          Let us with a gladsome mind keep pretending that the Government's decision not to
                          diversify, to put all our eggs in the one dairy basket and make it the key driver of the
                          economy was going to keep delivering the economic miracle forever and ever, Amen.

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                          • Peters: Fed Farmers too cosy with govt to help farmers
                            Winston Peters butted heads with Federated Farmers president Dr William Rolleston on Q+A this morning.

                            The NZ First leader's claims Mr Rolleston's organisation is too complacent over what he says is the government’s denial and inactivity around dairy prices.

                            Dr Rolleston in turn accused Mr Peter’s of “panicking” and saying the “most important thing is to have cool heads at this time.”

                            But Mr Peters shot back with a criticism of his own: “What you’re hearing here is a repetition of an argument made out to defend the position of Federated Farmers.
                            And in terms of this leadership, it seems to let down the farming community and the dairy farmer in particular.”
                            The National Business Review Online is New Zealand's authority in breaking business news and analysis.

                            Comment


                            • Originally posted by speights boy View Post
                              Peters: Fed Farmers too cosy with govt to help farmers

                              http://www.nbr.co.nz/article/peters-...farmers-176862
                              Things must be very bad indeed if people are starting to listen or pay attention to anything Winston says

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                              • Originally posted by Bluekiwi View Post
                                Things must be very bad indeed if people are starting to listen or pay attention to anything Winston says
                                True.
                                Winston gets a lot right though, its his method of operation that is dodgy
                                At the moment he is a check on the crazy path the Nats are taking

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