Financial Armageddon!!

[OnTheMove]

slowly however, for no other reason than round numbers? and lazy journalism the boomer cutoff year is now sometimes quoted as 1965, by which time nz births were well out of a boom

Yes I see your point, it is indeed perceived closer to what you suggest with lazy journalism. I personally think its become a mythical naming convention like some little Dwarves are mining the country dry and stashing the gold, when in fact the loss of benefits for many have come about due to politics nothing to do with this mythical generation.

I think there have been key politicians that have messed up due to our short sited terms and the greed to stay PM (that is politics after all), I think that is where the country has lost its way. Rodger nomics, J Key, Jim Bolger, Bill English etc.

Like I said with Helen Clarke, there are still plenty of Boomer leaders who want to leave something in NZ for future generations and on the whole the majority want whats best for NZ's future.

So I personally think its stupid naming convention for a demographic when the bad was not caused by the individuals in that demographic.

I just wish as a country we would at least stick to the basics and have them separated from the Fiscal Tax budget which I harp on about, Health, Education, Small business. Have that money taken from tax and away from the finance minister and slowly rebuild these systems, so we have a medicare, a super annuation instead of pensions which are causing all the grief at the moment, and keeping small businesses going and providing grants and mentors and tax cuts so we can grow this super scheme we call Kiwi Saver into something more realistic like Australian Super. In fact just copy what they do for those 3 key economic areas. The rest hopefully will be sorted by the politicians. But we need to keep on the same path with those 3 key economic principals. We cant rely on Dairy and Tourism for ever, we need small business especially during tough times when they are first to go.

Gagging Mike Hosking would be doing right by the Boomers as well ;-p

[Perry]

Where's my handkerchief?

I find this whole 'entitlement' thing extremely bewildering.

I don't know where I fit in these loose bits of vague 'classification / identification' demographical terminology, but I do know what I / we went through. And what my parents did, too.

I went from our state flat to night-shift work on an old motorbike at the local bakery. No shops open or fresh bread on the w'ends. I had a Saturday job, as well. My wife walked everywhere, pushing a pram or pushchair. We did not have a TV, nor a phone. I grew a large vege garden. We bottled, preserved and suchlike. Initially, we slept on a mattress on the floor and old sheets doubled as curtains. Second-hand was the name of the personal effects buying game. Even for kid's toys. If I had a beer, it was home brewed. I home-brewed ginger beer for the nippers.

More latterly, my wife died just months before she could collect the National Super.

When I look at the nouveau - I deserve it and you don't - crowd, with their dumb phones, double beds, voice, text and data plans, cars, almost limitless credit and other nice-to-haves, etc., I confess to a total and utter lack of sympathy with what they deem as some sort of pseudo we're-supporting-you plight.

In 'my day' High School pupils had bike sheds. (Remember those behind the bike sheds jokes?) Now High School pupils have car parks.

Pardon me for feeling a bit nauseous about the carping cants from the contemporary entitlement generation and their phoney fycological confederates.


Ever heard of "carless days?"

Grow a backbone, you lot.

[artemis]

About that backbone -

'Hard times create strong men. Strong men create good times. Good times create weak men. And weak men create hard times.'

[eri]

+1

but

thath tho thexitht!

[eri]

The lack of a sudden economic downturn is baffling economists, with one saying the drawn-out slowdown is "not like anything that we've experienced in living memory".

https://www.newshub.co.nz/home/politics/2019/11/lack-of-economic-crash-confuses-economist.html

[OnTheMove]

In 'my day' High School pupils had bike sheds. (Remember those behind the bike sheds jokes?) Now High School pupils have car parks.

I certainly do, great for smoking a joint behind quickly being late cycling to work bahaha.

Im not sure where I fit in either. I mean technically Im an X, and I do feel some resentment toward Bolger for the change in Uni fees and giving me a massive debt being the first year of the change.

But I too feel some resentment towards millennial self entitlement.

In all honesty I just wish Key had not interfered with natural economic state and we would be plodding along at 9% again not left in limbo due to 2 insane property spikes, one created by Key which Im not sure he intended or was just plain stupid which aside from sounding a bit of a nerd and speaks like hes a bit slow, he comes out with gems of wit at times. What is done is done. Im more interested in figuring out when the rest of the country will catch up with the Auck down turn, it seems they are still stuck in the second spike. Im sure the rest of the country has the internet and TVs? lol

[OnTheMove]

The lack of a sudden economic downturn is baffling economists, with one saying the drawn-out slowdown is "not like anything that we've experienced in living memory".

https://www.newshub.co.nz/home/polit...economist.html

Well the 1st boom followed by Key printing money to create the second boom which is what is propping up the economy was baffling and not like anything we have seen so the over inflation bubble it has created has the right to be just as baffling haha ;-p

Its quite simple imo. Boomers wont sell if they like the area they live inm there is no profit to be made so why would they sell. And the Government is trying to entice young people to commit financial suicide with 3-4% mortgages. Its not that hard to understand wouldnt you agree Eri?

It will take someone with balls of steel to raise the mortgage rates above 12% or a serious international economic problem with one or more of the top 5 super power economies. Of those China and the USA seem most likely. Once Trump has finished there will be a down turn in US economy and employment, no Wall left to build and 1/10th of the NAZI like deportation Gestapo to be employed. IMO Wall St types have been up to no good with various business inflation schemes, ie Chinese businesses attached to defunct but not closed US business titles. We have all probably seen the documentary where they take cameras in to what should be factories full of workers and merchandise, to find nobody by a janitor.

[Perry]

Worth Noting?

The lack of a sudden economic downturn is baffling economists, with one saying the drawn-out slowdown is not like anything that we've experienced in living memory.

And certainly not something these easily-baffled-by-their-own-arrogance economic soothsayers predicted, either.

Yes, I heard you. The crystal ball was at the cleaners.

Yeah, right.

[Davo36]

The lack of a sudden economic downturn is baffling economists, with one saying the drawn-out slowdown is "not like anything that we've experienced in living memory".

https://www.newshub.co.nz/home/polit...economist.html

People sometimes say "Oh because it's different this time" as some sort of insult or derogatory comment to the listener. What they're saying is "It will be the same, there will be a crash and you will feel it."

It actually is different this time. In fact it's different each cycle.

Different asset price run-ups, different industries that go well or go badly, and above all, different government responses to it all.

So it all plays out differently every time.

[Bluekiwi]

Lol .... "The Sham" finally admits hes is baffled, we have know that for the past 10 years, very funny how long self realisation can take.

This guy is a waste of space and I don't know why anyone listens or reports him when he has made such massive gaff's in the past, he is a complete idiot.

And also quite rude with his Zombie Town statements, and ended up being actually wrong with quite a few of these towns actually doing really well these past 5 or so years ?? since he said it.

BTW I do actually have a tip to help the smaller towns, and to increase housing supply and over crowding in the main centres ie. Auckland.
Ready for it...………

Only give the dole and accommodation supplement out for 2 years max in Auckland, then if they want to stay on govt support.
They have to move to a small town with over supply of housing.

[Perry]

Only give the dole and accommodation supplement out for 2 years max in Auckland, then if they want to stay on govt support, they have to move to a small town with over supply of housing.

You're an evil -ist of some sort, Paul.

Microagressionist?
Dole basherist?
Anti-Auckland-accommodation supplementist?
Hatespeecherist?
Must be some label you can be hung with, you vile seditionist, you.

[Davo36]

Only give the dole and accommodation supplement out for 2 years max in Auckland, then if they want to stay on govt support.
They have to move to a small town with over supply of housing.

Yes, trouble is there's no jobs there.

[Bluekiwi]

Yes, trouble is there's no jobs there.

They are on the dole, you don't need a job to be on the dole, am I missing something ?

[Davo36]

They are on the dole, you don't need a job to be on the dole, am I missing something ?

Oh I see, didn't read it properly.

So what's the advantage of this then? You're saying there's more housing available in small towns... is that correct?

[Bob Kane]

They are on the dole, you don't need a job to be on the dole, am I missing something ?

Ah, you want to keep them on the dole?
So make them live where there are no jobs and they will always be on the dole.
Brilliant!