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The shift in direction from the Reserve Bank yesterday is quite significant I reckon. A lot of chat today that we could once again go down the path of over-stimulating the economy. Remember a heap of mortgage holders still to come off much higher fixed rates. Consumer already starting to slowly improve however clearly the RB want to kickstart the housing market. All good timing for the incumbent government.
 
Mr. Brownstone said:
The shift in direction from the Reserve Bank yesterday is quite significant I reckon. A lot of chat today that we could once again go down the path of over-stimulating the economy. Remember a heap of mortgage holders still to come off much higher fixed rates. Consumer already starting to slowly improve however clearly the RB want to kickstart the housing market. All good timing for the incumbent government.
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If you were on a two year loan in Q3 of 2023 at 8.56% that had just come of term and you re-fixed your $500,000 loan at 4.75% at Wespac, your mortgage repayments for the next two years just dropped down by just over $19K each year. That's a pretty significant saving.... but personally, I'd try to keep the repayments the same to pay the loan down sooner.
 
miket12 said:
If you were on a two year loan in Q3 of 2023 at 8.56% that had just come of term and you re-fixed your $500,000 loan at 4.75% at Wespac, your mortgage repayments for the next two years just dropped down by just over $19K each year. That's a pretty significant saving.... but personally, I'd try to keep the repayments the same to pay the loan down sooner.
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Yes however the average punter isn’t nearly as smart as you. Also anyone with term deposits are worse off & some will go chasing yield in an already overpriced equity market.
 
miket12 said:
If you were on a two year loan in Q3 of 2023 at 8.56% that had just come of term and you re-fixed your $500,000 loan at 4.75% at Wespac, your mortgage repayments for the next two years just dropped down by just over $19K each year. That's a pretty significant saving.... but personally, I'd try to keep the repayments the same to pay the loan down sooner.
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We need people spending money instead of boringly and sensibly paying down debt.

Go on a shopping spree for the good of the country. Imagine if every household spent $19k extra every year. No more businesses closing down.
 
wizard of Tauranga said:
We need people spending money instead of boringly and sensibly paying down debt.

Go on a shopping spree for the good of the country. Imagine if every household spent $19k extra every year. No more businesses closing down.
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That's what we'd want, in theory. But it isn't as if anything is particularly cheap right now. Go out for a meal or a few beers and you still get bent over at the till. Go to the movies as a family and you end up tossing up if both parents really need to go, or if we just stay home and watch something streamed

It used to be "stay home save lives". Now it is "stay home save money"
 
defensivebomb said:
That's what we'd want, in theory. But it isn't as if anything is particularly cheap right now. Go out for a meal or a few beers and you still get bent over at the till. Go to the movies as a family and you end up tossing up if both parents really need to go, or if we just stay home and watch something streamed

It used to be "stay home save lives". Now it is "stay home save money"
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Result of massive increases in minimum wage without increases in productivity.

Evidence is clear you can’t pay yourself rich, just like I said at the time.
 
MaybeTop8 said:
Bollocks
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You think?

Since 2017, New Zealand's adult minimum wage increased from $15.75 to $23.50 by April 1, 2025, a total rise of $7.75. The United States' minimum wage is $7.25, less than Nz’s entire increase in the last 8 years. Wow!

With this simply massive increase our lowest paid must be creaming it? Poverty must have all but disappeared. This is what the left kept telling us when they raised the minimum wage.

So what’s gone wrong? What happened to the left utopia?

I bet when the lefts next in they will stir up outrage at the minimum wage level and will repeat the same lies about it making any sort of difference… left voters probably still believe in Santa as well.

Productivity and growing the economic pie is the ONlY key to higher real wages. Legislating higher pay is lala land stuff - as has been proven the last 10 years. In fact it’s made us all poorer (to complicated to explain why).
 
miket12 said:
Some on the left simply have no idea that you can't use the same tax cut money, if the government didn't give it, more than once. Actually, at just under $3 billion cost of tax cuts this year, it won't go very far through that list.

Think of just wanting a completly free public health system. Norway does that.... at the cost of $8,693 USD per person each year to have a completely free public healthcare system. By comparison, we spend $6,061 USD per person each year for our health system. That's a difference per person of $2,632 USD or $4,515 NZD each year. That works out at a cost of $24.1 billion each year based on a population of 5,340,000 NZer's. Or eight times the amount of the tax cuts.

Nor does the government (left or right) set power prices.... or dictate to overseas buyers of our food what prices they should pay. Oh, and the housing affordability index is apparently the lowest it's been since Helen Clark was in power.

But, misinformation like what you posted leads to a lot of likes I'm guessing.
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And I guarantee Norway's health system is in far better shape than ours, which is being privatised at a rate of knots in this far right government.

And if it's an equitable system a large portion of the population would go when they actually got sick initially, or even be able to implement preventative measures, instead of the not-even-an-ambulance-at-the-bottom system we have now, where people are dying because the system is under huge strain, deliberately being run down by this far right neoliberal government.

Oh and the government could very well set power prices if it were not constrained by a neoliberal straitjacket. Or at the very least provide an alternative that could be much cheaper to all new zealanders.

Coincidentally the butter prices seem to be exorbitantly high at the same time as a proposed multi billion dollar sale to a French consortium. Selling off the family jewels at the expense of all New Zealanders.

Do tell. Quelle surprise.

You seem to have taken a right turn lately Mike.
 
wizard of Tauranga said:
You think?

Since 2017, New Zealand's adult minimum wage increased from $15.75 to $23.50 by April 1, 2025, a total rise of $7.75. The United States' minimum wage is $7.25, less than Nz’s entire increase in the last 8 years. Wow!

With this simply massive increase our lowest paid must be creaming it? Poverty must have all but disappeared. This is what the left kept telling us when they raised the minimum wage.

So what’s gone wrong? What happened to the left utopia?

I bet when the lefts next in they will stir up outrage at the minimum wage level and will repeat the same lies about it making any sort of difference… left voters probably still believe in Santa as well.

Productivity and growing the economic pie is the ONlY key to higher real wages. Legislating higher pay is lala land stuff - as has been proven the last 10 years. In fact it’s made us all poorer (to complicated to explain why).
Click to expand...
Wah wah wah. Up the wahs.
 
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