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  1. #2411
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,289

    Default

    The CPI is a fascinating beast.

    I haven't had (make that wouldn't make) the time to go back through this thread to find the relevant posts. But the fudge factor of hedonistic stats is mentioned, in those earlier posts. Plus (as I dimly recall) mention that the CPI was seen as a deception, because a CPI movement of - say - 5% - meant little to the top earners in NZ society but had a helluva adverse impact on those lower down the socio-economic pecking order. E.g. National superannuitants.

    Today, there was an item touching on this, here.

    Retirees need ". . . just over $100,000 in savings at age 65 in order to be able to afford the most basic of lifestyles in either Auckland, Wellington, or Christchurch," research from Massey University has found.

    Further down that item is found:
    Thanks to the rising rental costs created by a shortage of homes in our big cities and council hiking their rates, housing and household utility bills have increased far faster than the Consumer Price Index, putting pressure on retirees. For the 12 months to June 30 2016, Statistics New Zealand calculated that housing and household utility costs jumped 3.3 per cent, against a rise in the overall Consumer Price Index of just 0.4 per cent, Matthews said.

    "That increase will have had a considerable impact on retirees, especially those living alone," Matthews said. "Housing and household utility bills make up 24.2 percent of the basket of goods used to calculate the CPI." "However, for retirees living alone this category actually makes up between 26.3 percent and 29.2 percent of their total expenditure, so any increase has a disproportionate effect on their cost of living."

    "So while superannuation payments went up last year by more than the CPI, in line with the increase in average wages, most retirees will still need additional income, even for a very simple lifestyle."
    I've often nurtured the view that the CPI was 'legally' fiddled to abet gummints' desire to reduce the Nat Super annual adjustment increases. Nothing in that Stuff item persuades me otherwise.

    There are many forumites better at maths than I am, but comparing the story's 0.4% with 3.3% indicates to me that the 'official' and "disproportionate figure" numbers depart from reality by a factor of around 8.

    I suspect that finding out - later in life and too late to start any meaningful saving - that being dependent upon the National Super is an existence spectre rather than living a life, is quite scary.

    Again dimly recalled, I think we came up with our own [realistic!] formula for inflation. that was:
    take the official CPI figure, multiply it by two and add two, to get the real inflation figure for most people.
    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift for your lady love.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  2. #2412
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,069

    Default

    Perry, we got a letter in the post about "Changes to our water bill".

    Changes? I said to my wife. Is the cost going down?

    No? They're going up? Shocker.

    And yes CPI is fudged, not sure if it's solely to save on increases in superannuation though.

    Not sure why in fact it's understated in many countries.
    Squadly dinky do!

  3. #2413
    Join Date
    Oct 2007
    Location
    Wellington
    Posts
    411

    Default

    Hi all,
    Can someone please advise what is the best way to buy physical bullion in New Zealand? I want to take some money off the table and interest rates are so low that i prefer to store my money in gold (rightly or wrongly). There seem to be a few options on google, but i wanted to see if anyone has any experience and can recommend a certain option please?
    Thank you.

  4. #2414
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,658

    Default

    I have dealt with these before. I would like a place in Christchurch, rather than Auckland, to do the business though.

  5. #2415
    Join Date
    Sep 2008
    Posts
    7,333

    Default

    Some years ago sold some gold to a couples of places in church st? Onehunga/Penrose....1 was a smelter....their splits were less than the big name places

  6. #2416
    Join Date
    Feb 2013
    Posts
    293

    Thumbs down

    Bitcoin is plummeting ... no shit !
    Last edited by BlueSky; 26-11-2018 at 01:18 PM.

  7. #2417
    Join Date
    Sep 2008
    Posts
    7,333

    Default

    guess what happens

    when the hot air of hype

    hits the cold front of reality

    ...

    short version

    things falls

    it pisses down

    cyclonic typhoon style

    corrugated iron flys around beheading selfie-taking tourists

    https://sciencing.com/happens-front-...t-8402437.html

    why would anyone

    buying an imaginary currency... peter pan investing? - "if we all believe it to be so..."

    believe that it could end well?

    tulips anyone?
    Last edited by eri; 25-11-2018 at 06:47 PM.
    have you defeated them?
    your demons


 

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