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Financial Armageddon!!

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  • Keys
    replied
    ^^^ Who have just been shafted by Jacinda.

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  • donna
    replied
    ^^ and the gardeners!

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  • Perry
    replied
    I wonder if all the "preppers" are busy, right now?

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  • chook
    replied
    An update on some of the financial crisis developing in the World right now.

    Evergrande (China) hasnt traded since March and owes over 300 billion
    Tech layoffs (people losing their jobs) is growing in US, around 6000 per month Feb - April has now ballooned to 18,000 per month May - June.
    Credit card usage has jumped in US 20% in last month. (people have no money)
    Inflation in Germany is over 25%

    In my view the US stock markets are only a third of the way down to where they are headed (NZX will follow)
    Unemployment worldwide will steadily increase
    Food shortage crisis...this is the kicker, this is going to be huge and impact your average person causing unrest, rioting and a massive rise in crime. This is building as we speak and a perfect storm is causing this headed by a spike in fertilizer price and diesel prices, lets see what develops over the next few months.

    Leave a comment:


  • chook
    replied
    Originally posted by donna View Post
    Inflation running riot in the USA - interest rate rise coming?

    Here's a question for you more learned and informed -

    If everywhere is going through the same challenges with inflation, and rising costs, - then next is companies dumping staff i.e. redundancies - how can there be a mass exodus of Kiwis from NZ?

    Or will it be just our top tradies, and professionals tempted by more $$ - and leaving NZ with their next job already in hand?

    cheers,

    Donna
    I agree that we are going to see rising unemployment, this will contribute to the stagflating economy (worldwide) The West Australian mining industry will boom again with rising precious metal prices (mainly gold) and this will be a draw card again for Kiwis who want to do the hard yards.

    "People are just beginning to wake from their complacency. The herd is starting to get nervous!" (Adam Taggart)

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  • chook
    replied
    "I hope I am "positioned properly," with no debt and stable tenancies."

    No debt is very good positioning.

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  • donna
    replied
    Inflation running riot in the USA - interest rate rise coming?

    Here's a question for you more learned and informed -

    If everywhere is going through the same challenges with inflation, and rising costs, - then next is companies dumping staff i.e. redundancies - how can there be a mass exodus of Kiwis from NZ?

    Or will it be just our top tradies, and professionals tempted by more $$ - and leaving NZ with their next job already in hand?

    cheers,

    Donna

    Leave a comment:


  • Perry
    replied
    19 May 2022
    Originally posted by chook View Post
    The general public don't realise the dire situation we are in, or what's coming...Kiwi exodus overseas, massive inflation (fuel and food prices) dropping property market, dropping kiwi saver.

    "Happy days are here again" NOT. Buckle in ladies and gentlemen; it's going to become turbulent.
    12 June 2022
    Originally posted by chook View Post
    I posted this in March, and now most people are waking up to the fact. "What's happening here? My wealth is slowly disappearing!"

    Here's the bad news....... There are a lot questioning "Are we headed for a Recession?" The answer is we are already in the early stages of a recession. It started at the beginning of 2022 and is just getting into the swing of things. We have a long way to go yet. This is going down and it's going down BIG!

    Those that are not positioned properly will get wiped out. I am not joking.
    Well done, chook.

    Hard to fault those predictions of yours, the way things are going as at June 2022.

    You join a very exclusive few.

    I hope I am "positioned properly," with no debt and stable tenancies.

    Leave a comment:


  • Jeffa
    replied
    Originally posted by chook View Post

    !

    Those that are not positioned properly will get wiped out. I am not Joking.
    Question:
    How do you out run a Lion?


    Answer:
    By running faster than the other guy.

    Leave a comment:


  • chook
    replied
    Originally posted by chook View Post

    The general public dont realise the dire situation we are in, or whats coming...Kiwi exodus overseas, massive inflation (fuel and food prices) dropping property market, dropping kiwi saver
    "Happy days are here again" NOT...Buckle in ladies and gentlemen its going to become turbulent ..
    I posted this in March, and now most people are waking upto the fact that "Whats happening here, my wealth is slowly disappearing?"

    Heres the bad news....... There are a lot questioning "Are we headed for a Recession?" The answer is we are already in the early stages of a recession it started at the beginning of 2022 and is just getting into the swing of things, we have a long way to go yet. This is going down and its going down BIG!

    Those that are not positioned properly will get wiped out. I am not Joking.

    Leave a comment:


  • chook
    replied
    Originally posted by chook View Post

    The general public dont realise the dire situation we are in, or whats coming...Kiwi exodus overseas, massive inflation (fuel and food prices) dropping property market, dropping kiwi saver
    "Happy days are here again" NOT...Buckle in ladies and gentlemen its going to become turbulent ..
    The world recession snowball is getting bigger as it rolls down the mountain and the scary thing is it is only just at the the top of the mountain!

    Some things happening worldwide which are not being shown on MSM..
    Sri Lanka is bankrupt with major rioting
    Another 'Good & Safe' Chinese property development company Sunac has also defaulted on a $29 million dollar bond debt payment and has said no more payments will be made.
    3 banks in China have frozen $178 Million of deposits
    German inflation at over 20%
    Do I have to mention US stocks tanking now down around 20% for the year and Bitcoin?

    Kiwis are just now wondering why their Kiwi savers are not looking too good..

    But wait theres more...there are indications fuel prices could go A LOT HIGHER, and world food shortages wil ramp up in the coming months

    Be ready for more updates..

    Leave a comment:


  • Perry
    replied
    And on a political level, it will likely be Labour & the Watermelon party’s main supporters who suffer the worst.

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  • JBM
    replied
    Originally posted by chook View Post

    The general public dont realise the dire situation we are in, or whats coming...Kiwi exodus overseas, massive inflation (fuel and food prices) dropping property market, dropping kiwi saver
    "Happy days are here again" NOT...Buckle in ladies and gentlemen its going to become turbulent ..
    Yes I think the next least 3yrs its going be pretty painful for many ,,we have so many structure issues national and internationally .. all goes to plan being well cashed up+ low/zero personal debt levels will be a blessing ...

    Leave a comment:


  • chook
    replied
    Originally posted by JBM View Post

    Yes everyone average kiwis ... rich kiwis buying up property etc Councils ...are Govt most of all going to the FED for 60billion ... now at 0% FED rates not a big deal ...but with talk of 2%+ in time if not MUCH higher we are talking Billions just in interest payments...

    Add in Property crash kicking the house of cards in NZ where 1 in 10 kiwis jobs are directly linked to the property market

    Retail / tourism doomed etc ...

    FUEL rocketing north hurting pretty much all sectors

    NZ present GOVT DEBT 138 Billion ... if say they are having to pay 2% to service the interest =$2.76 Billion per ann

    https://www.debtclock.nz/

    Or maybe NZ Govt debt is $155 Billion ?

    https://commodity.com/data/new-zealand/debt-clock/
    The general public dont realise the dire situation we are in, or whats coming...Kiwi exodus overseas, massive inflation (fuel and food prices) dropping property market, dropping kiwi saver
    "Happy days are here again" NOT...Buckle in ladies and gentlemen its going to become turbulent ..

    Leave a comment:


  • Perry
    replied
    Originally posted by JBM View Post
    kick the can down the road ..
    Something all NZ gummints excel at!

    I presume they rely on the aspect that it is difficult-to-impossible to foreclose on a country.

    Leave a comment:

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