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Post by Deleted on Feb 1, 2022 21:13:35 GMT 12
Meanwhile, the Reserve Bank, the agency responsible for price stability, was busy with other things. On the same day as the inflation update, it announced the appointment of Karen Silk as a new Assistant Governor.
Silk has had an impressive career as a banking executive. But she has no relevant economics qualifications and no previous experience in central banking or monetary policy. The Reserve Bank Governor, Adrian Orr, noted Silk's role as co-chair of the Sustainability Council and that she is "steeped in climate change".
So, on the day we learned inflation is at its worst level in three decades, the Reserve Bank Governor was talking about climate change. Again.
The Reserve Bank has no statutory mandate for climate change. Yet, since Orr's arrival in 2018, the Reserve Bank has become virtually fixated on the issue. Its most recent annual report has three times more references to climate change than inflation.
Last November's monetary policy statement referred to climate more than 30 times. Despite a 60 per cent increase in staff numbers since 2018, the bank's research output has almost come to a standstill. The bank has developed a habit of giving senior positions to people without relevant skills or experience.
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The Reserve Bank overcooked the economy, and now inflation is nearly triple the target inflation rate of 2 per cent.
High land and house prices will multiply the pain of rising interest rates. Average house prices across the country recently passed $1 million, an incredible figure. The average Auckland home now costs $1.7m. For anyone with a $1m mortgage, each 1 per cent rise in interest rates will cost $200 per week. Higher interest rates will send some households and businesses to the wall.
It is hard to look like a hawk on inflation when on the day the country learns inflation has reached historic highs, the central bank is talking about climate change. It is as if the Reserve Bank is going out of its way to signal it is disinterested in core business.
www.nzherald.co.nz/business/matt-burgess-why-inflation-looks-here-to-stay/O4ZDV4STG7QWNZKP3KER3SQM3M/ the idiots are running the asylum. |
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Post by Deleted on Feb 1, 2022 21:27:42 GMT 12
You can bet James Offshore, Donkey Chops, Robbingson et Al gave The RB a green ultimatum.
This Govt is fucking everything, and spending our money before the are voted out.
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Post by Fogg on Feb 3, 2022 9:46:56 GMT 12
The brain drain hasn’t just started but is accelerating as people young and old flee NZ faster than they (can) arrive.
2020 saw a brain gain as people saw NZ as a safe haven.
But now 2022 is seeing a reverse flow as people realise NZ is literally the land that time forgot…
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Post by Deleted on Feb 3, 2022 10:16:34 GMT 12
Just wait as today's announcement, in a minute, kicks in.
They will be flocking to Aussie, who need people& pay well, like you've never seen.
It not just young people. I have 3 mates in Their 50s who have/are selling up and buying better houses cheaper in Australia. And they love the fact 98 octane petrol has not been above $2 aud ever!
Well done Donkey chops .. not i8nky have we got omicron, but we have a economy in the wane, a economy hugely in debt due to your social spending, a huge inflation that will grow, a country divided at every measure, a health system that is still unable to cope, a country full of crims, guns, a Cu#t tree Full of cu#Ts and trees ....
Nice one horse.
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Post by Fogg on Feb 3, 2022 11:12:05 GMT 12
Yup.
Fogg & family might be selling up and sailing off into the sunset sometime soon too…
The irony of that is the direct loss to NZ P&L as a result. All my earnings come from offshore. But I (plenty of) tax here in NZ. Plus spending the net of course. All that would disappear driven away by this Govt. Which I’ve never had to do before in any other country of the world.
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Post by Deleted on Feb 3, 2022 11:58:02 GMT 12
Pre covid inbound tourism was falling due to the cost of getting and being here. Also the rules around camping etc told tourists to F off.
When tourism opens up there will be a short period of inward tourism until they realize the media spin they got from Horse's spin company was bull shite and they see the prices.
I can still travel and live in Spain/ Greece... cheaper than here and that's with the NZD v Euro exchange rate.
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Post by GO30 on Feb 4, 2022 18:22:47 GMT 12
Yup. Fogg & family might be selling up and sailing off into the sunset sometime soon too… The irony of that is the direct loss to NZ P&L as a result. All my earnings come from offshore. But I (plenty of) tax here in NZ. Plus spending the net of course. All that would disappear driven away by this Govt. Which I’ve never had to do before in any other country of the world. D1 has been offered a job in Vietnam, a country I do like a LOT.
At a family gathering it was discussed how NZ has fallen so low and the big push to make it run by a small angry bunch of racists for the benefit of themselves at everyone else's expense.
So we are now house shopping in Hanoi. Currently sussing a couple of places. One is 5 beds 5 baths near as brand new on the fringe of the city (inside it is a little too busy me and the Wa as a full-time thing) for the gentle sum of $410,000* and that's NZ dollars. Rent the NZ houses out for the ridiculous this Govt has pushed them too. Lease the farm to someone, there is strong demand. Spend our days spending in Asia our income that's all derived in NZ. Lots will be spend on Bun Cha and dinosaur juice for the motorbikes.
Even the thought of doing anything like this 5 years ago just never existed.
* - Which is 6,190,000,000 Vietnamese Dong....yeap 6 billion
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Post by Deleted on Feb 4, 2022 20:16:32 GMT 12
Yup. Fogg & family might be selling up and sailing off into the sunset sometime soon too… The irony of that is the direct loss to NZ P&L as a result. All my earnings come from offshore. But I (plenty of) tax here in NZ. Plus spending the net of course. All that would disappear driven away by this Govt. Which I’ve never had to do before in any other country of the world. D1 has been offered a job in Vietnam, a country I do like a LOT.
At a family gathering it was discussed how NZ has fallen so low and the big push to make it run by a small angry bunch of racists for the benefit of themselves at everyone else's expense.
So we are now house shopping in Hanoi. Currently sussing a couple of places. One is 5 beds 5 baths near as brand new on the fringe of the city (inside it is a little too busy me and the Wa as a full-time thing) for the gentle sum of $410,000* and that's NZ dollars. Rent the NZ houses out for the ridiculous this Govt has pushed them too. Lease the farm to someone, there is strong demand. Spend our days spending in Asia our income that's all derived in NZ. Lots will be spend on Bun Cha and dinosaur juice for the motorbikes.
Even the thought of doing anything like this 5 years ago just never existed.
* - Which is 6,190,000,000 Vietnamese Dong....yeap 6 billion
,😂 that's a lot of dong to carry. |
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Post by GO30 on Feb 6, 2022 11:08:51 GMT 12
Oh yes, it's easy as to be a millionaire over there. Vietnam is one country where real gender equality exists, even the females walk around with big dong in their pants  |
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Post by Deleted on Feb 6, 2022 16:19:19 GMT 12
Oh yes, it's easy as to be a millionaire over there. Vietnam is one country where real gender equality exists, even the females walk around with big dong in their pants LGBGT & Dong. |
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Post by sloopjohnb on Feb 6, 2022 19:53:48 GMT 12
Oh yes, it's easy as to be a millionaire over there. Vietnam is one country where real gender equality exists, even the females walk around with big dong in their pants  Did you find out the hard way.  |
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Post by fish on Feb 6, 2022 21:37:35 GMT 12
Yup. Fogg & family might be selling up and sailing off into the sunset sometime soon too… The irony of that is the direct loss to NZ P&L as a result. All my earnings come from offshore. But I (plenty of) tax here in NZ. Plus spending the net of course. All that would disappear driven away by this Govt. Which I’ve never had to do before in any other country of the world. D1 has been offered a job in Vietnam, a country I do like a LOT.
At a family gathering it was discussed how NZ has fallen so low and the big push to make it run by a small angry bunch of racists for the benefit of themselves at everyone else's expense.
So we are now house shopping in Hanoi. Currently sussing a couple of places. One is 5 beds 5 baths near as brand new on the fringe of the city (inside it is a little too busy me and the Wa as a full-time thing) for the gentle sum of $410,000* and that's NZ dollars. Rent the NZ houses out for the ridiculous this Govt has pushed them too. Lease the farm to someone, there is strong demand. Spend our days spending in Asia our income that's all derived in NZ. Lots will be spend on Bun Cha and dinosaur juice for the motorbikes.
Even the thought of doing anything like this 5 years ago just never existed.
* - Which is 6,190,000,000 Vietnamese Dong....yeap 6 billion
Hanoi is almost as humid as Auckland at the moment. A real sweatbox. But not too far to Halong bay. Fascinating country. You would be very happy with the dedication to climate change by getting the entire family plus pet monkey on one of those 125cc step-throughs. Its been a while since I was there, mainly remember fairly much everyone trying to rip you off, but then I was in full tourist mode. Good stable (communist) govt, put this lot to shame. I can understand why you would consider it. |
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Post by GO30 on Feb 7, 2022 8:33:25 GMT 12
Oh yes, it's easy as to be a millionaire over there. Vietnam is one country where real gender equality exists, even the females walk around with big dong in their pants Did you find out the hard way.  I learnt very quickly the options available are extensive, cheap and never judge a book by it's dust cover  Even when doing an overnite at the 'Good Finish River Resort'...which I kid you not exists and is true to it's name. While it has a interesting name and some of the 'amenities' are marketed very openly it is very tidy and well run in a very handy location so we've used it a few times now.
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Post by GO30 on Feb 7, 2022 8:46:38 GMT 12
Hanoi is almost as humid as Auckland at the moment. A real sweatbox. But not too far to Halong bay. Fascinating country. You would be very happy with the dedication to climate change by getting the entire family plus pet monkey on one of those 125cc step-throughs. Its been a while since I was there, mainly remember fairly much everyone trying to rip you off, but then I was in full tourist mode. Good stable (communist) govt, put this lot to shame. I can understand why you would consider it. Halong bay has ben fucked over by the tourist trade. If you want to go there these days you need to go 3 or so days so you can get out wide. In close is dirty and rubbish strewn.
50cc baby, anything bigger is taxed at a minimum of 200%. We have a pile of motorbikes (XL150's, CLR250's and a few Urianls (Urals ) up there and each one cost about the same as a small car in NZ by the time they got thru the border. But you're right, a average Vietnamese 50cc scooter can shift more in a day than 90% of NZ trucks.
It's not rip off, it's just their style and the game. Ask big and be prepared to be beaten down as you're about to be. But like everywhere else there are the tourist traps that can try to take the piss. We tend to fly in, spend 2 days max preparing in the city then do a 250-350km ride hard out of dodge into the boonies. I do very much like Hanoi though, it's got it all going on.
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Post by fish on Feb 7, 2022 9:33:42 GMT 12
I understand the purpose of being ripped off as a tourist. It is an integral part of their economy. But in Vietnam, and particularly in the north, it was just relentless. I far prefer the Cuban system. They have 2 currencies, one just for tourists. The govt states openly, as a tourist, you will be paying a minimum of 4x more for everything. All upfront and no hassles.
We were followed for a bit by the secret police when we were there. One of the guys I was travelling with was using encrypted email for some reason. It used fascinate me, how in the internet cafes, pages would download at reading pace, and then downloads would stop altogether at lunchtime. Like someone was reading every email you were opening....
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