Financial Armageddon!!

[Perry]

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.

[speights boy]

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.

[Wayne]

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.

[chrisgoh]

NZ did not make it to the list

[BigDreamer]

Those graphs are from 2013.

[chrisgoh]

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



Source: Report

[PTILoveYou]

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
http://www.bloomberg.com/news/articl...iving-with-mum

[chrisgoh]

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

[Perry]

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

[chrisgoh]

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.

[chrisgoh]

Source: Chris Hunt

[Perry]

Yip, it's about time to panic on the economic meltdown
10 August 2015

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.

[speights boy]

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.”

http://www.nbr.co.nz/article/peters-...farmers-176862

[Bluekiwi]

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

[Eugene]

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