Another rule is to spread it around a few banks in these times when its crazy out there
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CBA & ASB - to me, the strongest & most financially robust bank in the Australasian financial markets - principally consumer & household based lending & well diversified funding base.
The Australasian 4 trading banks (& NZ subsidiaries) operate with implicit government guarantees imo.
Perish the thought.
The haves in the main have worked and saved.
There are far to many in this country that are happy to just bludge.
Yes there will always be those that do need assistance.
If you do not work you do not eat was my up bringing.
Time to get back to basics IMHO.
Yup - agreed wholeheartedly.
Labour is going to need the productive sector (those doing real work) and the funders (those with money) post the lockdown to pull NZ out of the humongous debts which is being incurred now.
Going to be tens of thousands out of jobs - where are the jobs going to come from?
Yep that's the worry.
We either need herd immunity,a treatment or vaccine so airlines, tourism & hospitality can get going again very quickly otherwise their will be a lot of people on an enforced holiday for a long time
In the meantime we need the crops,seafood,forestry & meat industries to ramp up back to more normal levels.A worrying problem is storage,logistics,shipping & containers
At least the tech industries can work more remotely
Balance of payments will be interesting as in spite of primary exports being reduced imports should be well down as well.Will we see a bounce back in consumer demand?
Interesting times
I wonder what it means for my Indian colleague who submitted his residency application about 9 months ago (but at last count still hadn't been assigned to a case manager)? We are in the tech industry, so he might be ok. As much as many of us don't like the influx, I feel sorry for those guys who have spent thousands of dollars and a whole lot of effort to apply and then something like this comes along.
At least Winny might be able to say he achieved one of his promises.
Has profound implications for the banking sector if businesses are unable to ramp up production, generate revenues and service their bank loans.
If most of the unemployed NZers are happy to live on subsistence welfare payouts (likely), tecpcery is going to be painfully slow and domestic demand is not going to be able to offset the loss of economic momentum of the global lockdowns.
Just look at the tens of thousands of rental vehicles parked up and down NZ (especially in tourist spots like Queenstown) and shudder at how the banks are going to enforce their security!
Yep the government will have its work cut out to encourage boomers to take divert their capital from inflated land based investments to reinvest into productive business and investments after they successfully rode house price inflation for years. With current settings, another generation will take a lot of convincing to reinvest into NZ companies and businesses.
The landscape is likely to drastically change from riding house price inflation to protecting capital.Farm investments,primary industries, will be at the other end of the oscillation
https://www.stuff.co.nz/business/114...fe-investments
Those who survive (ie the young) will take up assets, designs/IP for cheap and take it to new heights as it always has been in nz. Rent will be cheaper, commercial and residential hopefully. This will enable some positive changes with tech minded people taking over the leadership positions.
Boomers on the whole are not that educated (some left without HS) but own the property market.. how rediculous is that. If the domestic talent is not there it can be imported.