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Interest.co.nz Video with opinion on current credit crisis

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  • Interest.co.nz Video with opinion on current credit crisis

    From: http://www.youtube.com/watch?v=y4QnL4HOpq8
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  • #2
    I agree with that. Trouble is it's not going to happen.

    Squadly dinky do!


    • #3
      I agree as well! But yeah it won't happen. Too much vote buying going on and keeping on the good side of the intl b******s.
      Find The Trend Whose Premise Is False - Then Bet Against It


      • #4
        We don't need savings!

        We need investment into productivity. Our problem will only be solved when we start producing and not relying on inflation for wealth.

        That is what Govt so desperately needs but we have lost that art. Life time commitment to build a business of real worth to the community. Productive spending that creates 1.2 for every 1 spent.

        More than that we need responsible accountable citizens who are educated enough to make good decisions.

        And while this is far less likley than saving since both are la-la land we might as well get our picture of Utopia right to start with


        • #5
          Let's assume that the consensus is for productivity. Cool.

          Why would an individual work long hours, with the stress of dealing with clients etc, when consecutive governments over the last thirty years, have created a business compliance maze from hell, provisional tax and safety regulations.

          Most (I believe it's something like 85% - but don't quote me!!) new businesses don't survive the first 2 years in business.

          New business owners begin starry-eyed, wanting to make money. Within a couple of months they have been very quickly disabused of this idea. It's a struggle to get business, and whilst you're struggling, the IRD wants you to pay provisional tax for NEXT year BEFORE you've made money THIS year.

          How idiotic is that.

          The IRD also load the provisional tax by 5% EACH year because a business SHOULD (this from the IRD) be growing every year by 5%!!

          What a bunch of bureaucrats!!! They have probably never owned a business in the private sector, never employed staff, never had to get contracts and retain old contracts.

          Their attitude appears to be "You're a business, therefore you MUST be making a profit, therefore we will tax you".

          With regards to savings. Why should I save?? Please can someone tell me what the incentive is?? I'm not being facetious, I really want to know.

          If I want to save money, it has to be post-tax discretionary $'s in a Bank account where I am taxed on the interest I earn on that account!!! Isn't that counter-intuitive to most people???

          I can now see why people put their money into PI. Until recently you made Capital Gains when you held the property, now that doesn't happen. You could claim for depreciation (as can ANY business), perhaps had +ve cf and at the same time provide a social need ie housing.

          I will keep investing in PI, providing a social need until such time as it becomes viable for me to save. Until then, Governments and economists and so-called "forward thinkers" can stop bleating and advising me to save, so that the country can move forward.

          Here ends my rant!!!
          Patience is a virtue.


          • #6
            Yep one of the real issues is lack of support to for businesses to grow beyond SME's (small medium enterprises). Once businesses get to a level of profitability the owner sells (and normally to the Aussies) - so cashing up and getting out with a few million. This is preferable to continuing to battle away in the 'small pond' (NZ Market) for the same return. Once a SME has reached saturation point here the next step of offshore (normally Aussie) and that is a huge step.

            Weighing up the pros and cons, the owner (I guess) realises its less stress and more gain (to the owner) to sell up. I know a couple of business owners that have gone down this path and it is a shame they do opt out - but it's also understandable too.

            Just my 10 cents worth...


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            • #7
              Why would an individual work long hours, with the stress of dealing with clients etc, when consecutive governments over the last thirty years, have created a business compliance maze from hell, provisional tax and safety regulations.

              What I find most bizarre in this whole credit crunch debacle is when you look at it in it's simplest form.

              We have a WHOLE world full of material resources, but every ones hands are tied behind their backs by an unseen force, just left to look on, powerless while we lose homes, go without food etc....

              Imagine it like having all the necessary materials, knowledge & man power to build a house, all delivered to the build site, but because of an "intellectual problem" (that has no physical power to stop you) everyone just stands there dumbfounded!


              • #8
                The point you raise essence is, excuse the pun, the essence of the problem.

                All this talk of Gold, saving, etc. provides a safety net economically but does nothing to solve the problem. Govts want the problem solved and do everything they can to try and make it happen but continue to fail to factor in one thing.

                HUMAN NATURE. Most people quite rightly look at the idea of starting a business and go no way. Everyone can think of the basics that people need and then anything else as a biz just seems a little insane. Half the people I know working in Govt. know full well they are on a cruisey ticket and are dead afraid that some day someone will actually ask them what they do and how it adds value. But that is only half the problem.

                If the world suddenly becomes rationale think of all the industries that would stop over night. That is what is happening now as demand is sinking as peopel ask themsleves what is real.

                This creates a real problem as Govts run the biggest Ponzi schemes in the world waitin for one generation to pay for the next.

                And that is why they will never counter the housing investment as it simple makes sense in comparsion to most other invetments.

                But make no mistake saving is not the answer, productivity is. But the rel question is what makes sense to produce and how will that sustain the world (not in terms of energy but employment).