Currently falls 3c against the $US in a single day and almost 1.5c against the A$.
My New Years prediction this year was that the NZ economoy would be buggered by October/November and we'd be in a near recession. It looks like it's actually occuring a little earlier.
What's going to happen to house prices and interest rates now when our banks no longer have cheap money to loan? What's going to happen to inflation as the cost of petrol and imported goods starts to sky rocket?
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Comment by antoniosk, on 16-Aug-2007 18:54
Hmmm, I hope all those LLU providers bought their dslams early!
Comment by antoniosk, on 16-Aug-2007 20:54
What's an economoy?
Yes but they are priced in AU$...
Comment by tallPete, on 16-Aug-2007 21:23
The economy probably will go into recession. Its the natural order of economies. Boom, then Bust - a cycle. I still haven't fathomed out why people thought that boom would go on forever. Perhaps because it has gone on for a wee while people have forgotten what a bust was, or are just too young to know.
Now that the $ has gone down about 10-15%, I await the screaming when petrol goes up in price and imports. People will be shouting that the government did this to them, when in fact its bigger than the government.
Comment by asianbro, on 17-Aug-2007 10:25
I agree with the above comment, economy goes in cycle.
One season it is good for exporters and the next season it is good for importers. Those who fully understand this cycle (which excludes me as I'm still learning) will be fine all seasons.
There's a season to save and there's a season to spend, unless you're rich, in which case you can just spend spend spend all seasons