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  #2439023 16-Mar-2020 10:08
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MikeB4: Yep the capitalist system is such a raging success. A rumour can cause a ripple, a big rumour can cause a recession, a few badly run banks can cause a GFC and virus can cause a global melt down. Capitalism is as resilient as a raw egg on the egg of a low table.

Maybe the silver lining of all of these is the planet finds a new system but don't hold your breath. Too many greedy vested interest and our overwhelming ability to repeat the mistakes of the past over and over again.

 

Underneath all of that, many are producing real goods and services, and we are buying real goods and services. Thats boring, but the longer than can happen even in a declining volume, the better off we are. Thats the real economy


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  #2439024 16-Mar-2020 10:09
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Waiting for the first market results to filter through. 


 
 
 
 


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  #2439027 16-Mar-2020 10:13
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tdgeek:

 

How? Has production dropped massively, consumer spending slumped, unemployment increasing heavily each day?  It has in tourism and that will grow and affect many others, but right now I dont see NZ plummeting down daily

 

 

I'm sure production will have dropped massively,  Not at toilet paper manufacturers for the time being. 

 

IIRC, >230,000 people are directly employed in tourism in NZ.  I'd expect an 85% cut in international airline capacity understates the real drop in tourist numbers being forecast.  SAS (Scandinavia) has laid off 90% of their staff - temporarily, but nobody really knows.

 

 

 

 


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  #2439028 16-Mar-2020 10:17
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tdgeek:

 

Travellers are now confused about self isolation rules. How??? Its everywhere online, it's nary a paragraph long, and they must certainly have been given that info to read?

 

In other news, a pair of backpackers who have been travelling the world have said they wont self isolate. PM believes she has the power to deport, I want that to happen. An example needs to be made. No common sense or respect for anyone.

 

 

The new procedures are designed to reduce the number of people doing dumb or stupid things.  Most people will observe the self isolation procedures most of the time so it is of some value.  Before long Australia and NZ may adopt 100% international air travel bans similar to those in some European countries.   We are never leaders in things like this.  It is similar to the 'maginot line' approach to airport security where liquids are not banned from domestic flights and there's zero scanning for ATR-72-600 planes at some of the regional airports.  For all its faults the USA & TSA at least try to have a comprehensive system.


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  #2439029 16-Mar-2020 10:18
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GV27:

 

Waiting for the first market results to filter through. 

 

 

Not as bad as I expected.

NZX 36 rises to 68 falls.

 

 

 

NZX 50 down 1.5%

 

AIA down 11.4%

 

POT down 3%

 

AIR in trading Holt

 

GNE up 1.1%


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  #2439030 16-Mar-2020 10:18
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GV27:

 

Waiting for the first market results to filter through. 

 

 

The New Zealand sharemarket has fallen another 1.33 per cent on Monday morning, after ground-breaking travel restrictions were announced over the weekend.

 

The NZX fell 130 points to 9696.030 at 10am, as a string of negative local news hit the headlines.

 

It continued to ease, down 1.43 per cent after the US Federal Reserve slashed its benchmark interest rate by a full percentage point to nearly zero, to try to offset the impact of the coronavirus outbreak.


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  #2439031 16-Mar-2020 10:18
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GV27:

 

Waiting for the first market results to filter through. 

 

 

Nothing drastic will happen until US/EU markets open over night.


 
 
 
 


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  #2439033 16-Mar-2020 10:20
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amiga500:

 

tdgeek:

 

Travellers are now confused about self isolation rules. How??? Its everywhere online, it's nary a paragraph long, and they must certainly have been given that info to read?

 

In other news, a pair of backpackers who have been travelling the world have said they wont self isolate. PM believes she has the power to deport, I want that to happen. An example needs to be made. No common sense or respect for anyone.

 

 

The new procedures are designed to reduce the number of people doing dumb or stupid things.  Most people will observe the self isolation procedures most of the time so it is of some value.  Before long Australia and NZ may adopt 100% international air travel bans similar to those in some European countries.   We are never leaders in things like this.  It is similar to the 'maginot line' approach to airport security where liquids are not banned from domestic flights and there's zero scanning for ATR-72-600 planes at some of the regional airports.  For all its faults the USA & TSA at least try to have a comprehensive system.

 

 

I was meaning the definition of self isolation. Its very simple


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  #2439036 16-Mar-2020 10:20
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tdgeek:

 

MikeB4: Yep the capitalist system is such a raging success. A rumour can cause a ripple, a big rumour can cause a recession, a few badly run banks can cause a GFC and virus can cause a global melt down. Capitalism is as resilient as a raw egg on the egg of a low table.

Maybe the silver lining of all of these is the planet finds a new system but don't hold your breath. Too many greedy vested interest and our overwhelming ability to repeat the mistakes of the past over and over again.

 

Underneath all of that, many are producing real goods and services, and we are buying real goods and services. Thats boring, but the longer than can happen even in a declining volume, the better off we are. Thats the real economy

 

 

The economy is always an accident waiting to happen. I have lived through the oil shocks and crisis in the 70s, the deep recession of the eighties, the recession of the early 90s, the Asian crisis late 90s, the GFC and many more in between. For a quarter of a century plus I worked to help pick up the pieces of the human cost and have seen too many lives ruined by all of this crazyness. No one can tell me that the system we have is a success not even close. We are reaching a point where clean water is a privilege.  





Mike
Change Management Consultant
The views stated in my posts are my personal views and not that of any other organisation.

 

He waka eke noa


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  #2439037 16-Mar-2020 10:21
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Mahon:

 

GV27:

 

Waiting for the first market results to filter through. 

 

 

Nothing drastic will happen until US/EU markets open over night.

 

 

Federal Reserve just cut rate to zero.
And announced a US$700 billion quantitative easing program..

Edit: Can't see this easing everyone's fears..


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  #2439039 16-Mar-2020 10:24
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Sidestep:

 

Panic buying of cannabis has started in Canada.
Stoners are worried the government may order the stores closed for an indefinite period of time - and are stocking up.

 

 

 

 

What else is there to in Canada in winter if you cannot go out?!🤣






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  #2439043 16-Mar-2020 10:30
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Fred99:

 

tdgeek:

 

How? Has production dropped massively, consumer spending slumped, unemployment increasing heavily each day?  It has in tourism and that will grow and affect many others, but right now I dont see NZ plummeting down daily

 

 

I'm sure production will have dropped massively,  Not at toilet paper manufacturers for the time being. 

 

IIRC, >230,000 people are directly employed in tourism in NZ.  I'd expect an 85% cut in international airline capacity understates the real drop in tourist numbers being forecast.  SAS (Scandinavia) has laid off 90% of their staff - temporarily, but nobody really knows.

 

 

 

 

 

 

Im not so sure about production, but I have no information.

 

Logging should recover soon as China gets back on board in their manufacturing plants. Tourism will need Government wage subsidy help, and solutions for that labour force, so I take that as a full Govt role. I doubt we manufacturer many finished goods for export? What we manufacturere for ourselves, has the buying side crashed? Im not aware of factories closing or laying off workers at regular intervals. It feels to me that apart from the poor buggers in tourism, the rest of us are still working earning and buying and making stuff. Beneficiaries are still earning. It "seems": to me that we have a lot of economic activity happening still.


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  #2439044 16-Mar-2020 10:31
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Passengers aboard the Le Laperouse, a small cruise ship which docked in Wellington on Monday morning, confirmed the remainder of the trip around New Zealand had been cancelled.

 

All passengers had been told to get off the ship.

 

One passenger told Stuff no restrictions had been put on their movements in Wellington. There was no known sickness on board.

 

Some passengers who had disembarked were seen getting onto a sight seeing bus.

 

 

https://www.stuff.co.nz/national/health/coronavirus/120298962/coronavirus-cruise-ship-with-with-suspected-infection-misses-wellington

 

 

 


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  #2439050 16-Mar-2020 10:40
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Geektastic:

 

What else is there to in Canada in winter if you cannot go out?!🤣

 

 

There's a September peak in births..


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  #2439051 16-Mar-2020 10:42
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GV27:

 

Passengers aboard the Le Laperouse, a small cruise ship which docked in Wellington on Monday morning, confirmed the remainder of the trip around New Zealand had been cancelled.

 

 

Reason #42 to avoid cruise ships.

 

At a whim, they'll dump you in a foreign port - and leave you to sort out your own arrangements, while they sail away into the wild blue yonder.


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