Opps sorry, it just feels that way. I've almost forgotten what its like to enjoy normal freedoms. I misinterpreted this article that said we'd had 20 weeks so far with no end in sight.
https://www.nzherald.co.nz/business/...7PRXPJ2FZMWTY/
20 weeks includes the weeks we had last year. My point about the effect on Auckland business's stands. The Auckland region has been the sacrificial lamb with its abundance of MIQ facilities for the rest of the country. Impossible to overstate what an exhausting thing one lockdown after another after another after another after another with no end in sight for this one is like. Its just drains your batteries day after day after day after...
I've always encouraged my clients to have money set aside for a rainy day but nobody ever expected it to keep raining like this. Those without extensive back-up resources will fail and the numbers who have done exactly that are already confronting and probably just the tip of the iceberg as most will be trying to cling on by their fingernails to any glimmer of hope they can see. Will HGH's existing Covid overlay provisioning be enough to cover expected losses in the Auckland region ? That's anyone's guess, I have no way of getting a read on that.
Maybe its good for HGH and will generate heaps more loan demand as they support Auckland business's through this like HGH supported dairy farmers though the dairy crisis ? On balance it can't be a good thing lending more money to troubled business's unless the underlying security value of the assets put up for security is rock solid.