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240 posts

Master Geek
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Topic # 87801 7-Aug-2011 20:26
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The NZ economy  isn't so bad after all..  

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Uber Geek
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  Reply # 503107 7-Aug-2011 21:18
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I didn't watch all of it but Wikipedia gives a completely different figure for NZ. I think most other sources will be closer to Wikipedia as well.

No idea where this guy is getting his figures or if he is mixing them up, or maybe he just wants to hint to his viewers to buy NZ bonds for some reason ;   )

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Uber Geek
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  Reply # 503124 7-Aug-2011 22:19
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Great, that should push up the NZ dollar even higher, as people do listen to this guy.
He mentioned NZ public debt is low, which is true, but I think it could be higher than what he quoted. However NZ private debt is very high.


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  Reply # 503166 8-Aug-2011 00:47
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Peter Schiff has been consistently saying for years that rating agencies are a joke and investing in NZ, AU etc is a good choice.

He has a very solid record and all through 2006-2009 he correctly pre empted the GFC, eg: In 2007 he released a prophetic and famous book "Crash Proof - How to profit from the coming economic collapse". 

If you follow financial news, he's definitely worth adding to your RSS reader and subscribe to his youtube channel.

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  Reply # 503170 8-Aug-2011 01:04
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To appreciate just how bad the shape the US is in have a look at this, and remember neither major political party in the US wants to balance the budget.



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  Reply # 503287 8-Aug-2011 12:41
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Not to mention China's official news agency getting in a public caning as well:

Stuff article: "In the Xinhua [official news agency] commentary, China scorned the United States for its "debt addiction" and "short sighted" political wrangling. "China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," it said. It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil, it said."

I doubt the official news agency is the direct and exact mouthpiece of the central committee it once was, but it is still interesting to see it take this position.

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