You dont really need to view the figures you can just feel the disconnect between the spin and hysteria of the government fed media and the reality of life in the real world. I predict the housing market in NZ is going to shit itself big time. The sharemarket in the USA is going to plummet back down to 7000. Gold prices are going to soar. We are going to experience hyper inflation. There is going to be unemployment inthe hundreds of thousands.
Hi Jeremy, this all seems a tad extreme. I honestly can't see NZ house prices falling esp in Auckland. There is a growing population and not enough houses being built. I have also watched Trademe listings drop significantly in Akl over the past few years, there just isn't enough supply for the demand at the moment, and that trend looks set to continue for some time.
ReplyDeleteAlso when the 'GFC' hit several years ago people just held onto their properties. There might have been a slight dip in prices and an increase in mortgagee sales at the time but prices bounced back very quickly and are now higher than ever. Good quality properties are hard to come by, residential and commercial.
I don't think we'll see hyper inflation in any stable Western government. There might be inflation but it will be in rising asset prices and commodities like food, energy etc
I'm not sure why you have a negative view. When I'm out and about I see the bars, cafes, malls full. I deal with a large variety of businesses and the majority are paying their bills on time and when I ask them they say business is ticking along fine.
Could you elaborate on why you have taken this view?
Hi Rod my view is based on the following:everthing you say is true about things ticking along but it is all based on what have been for some time effectively negative interest rates courtesy of the reserve bank system in US and UK and Germany.What you see is an economic illusion and when the US dollar defaults as it will western capitalism as we know it will be over.
ReplyDeleteYou may be right Jeremy, but don't underestimate the powers that be who will do anything to keep the system working.
ReplyDeleteI agree there will have to be a massive economic change at some point but I just can't see it happening in our lifetime!