Good on you ggcc …..haverá great time
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Just in Singapore airport after 6 weeks in Europe too. Boy it’s hot there!
Bleating? lol come on. Even King Duke said it is very very tough out there. All NZX co's (bar one or two) reporting is down and flying red warning flags..
Just need to take a walk down main street or your local mall to see vacancies. Go talk to the local cafe owner, or bookshop or florist or builder etc etc and ask them how things are going..
Maybe one last round of holidays for some living beyond there means. The middle class rolling over onto the new rates will drain the last reserves and then the economic hell will really kick in. Orr is going to be too slow to move so here comes the doom. Can hear the drums beating already.
Im talking the middle class and the small business owners which is the backbone of the country that are hurting. Not the top 10% of this country.
I've been looking at the JPY lately and it's come a very long way due to the interest rate yield differential. I've recently averaged a position at 161.510.
The NIKKEI has pretty much done the inverse of the currency in the last year or two & I have seen not so long ago a few big players talking up Japanese stocks.
I do wonder if buying now is more a currency play I.e they expect the JPY to strengthen once interest rates are cut in the US, or a more cynical view might be to entice buyers that they can sell into, to offload their position.
Either way I think the JPY could be a major mover once US rates start coming down.
What for people with a mortgage?
What about people without a mortgage, won't you decrease their disposable income if you lower rates on their savings?
As I write this I guess people have larger mortgages than savings accounts or term deposits. I guess I need to understand a bank's balance sheet to appreciate what the economy is built on. Sounds like hard work.