Government to guarantee bank deposits!

[Swoop]

A very depressing thought, if they win I would have expected to see a swarm of Kiwis off to Oz, but the way their dollar is getting smacked around, they may be in for a rougher ride than us

It is getting very close to equalling the NZ dollar, which will make it even easier to move across the ditch if the red menace returns to gubbinment.

[trustme]

It is getting very close to equalling the NZ dollar, which will make it even easier to move across the ditch if the red menace returns to gubbinment.

Will their job market hold up , their economy is based around minerals/commodities , that market is heading south , they are as vulnerable as we are . Weak currency = weak economy
If a favourable exchange rate is a determining factor lets all fuck off to Zimbabwe, we'll all be two bob millionaires overnight.

[Usarka]

more like lose $50

I'll gladly lose the fiddy. If i win then it'll help pay for the plane ticket

[Forest]

Will their job market hold up , their economy is based around minerals/commodities , that market is heading south , they are as vulnerable as we are . Weak currency = weak economy

Nonsense. The 20 year average for the AUD against the USD is 72 cents, so their currency is only slightly undervalued by historical standards.

Weak currency = more export earnings
Australia = export oriented economy

The real issue is whether China will dial down demand for steel and coal, not the short-term value of the AUD.

[davereid]

Certainly a weak dollar helps your exporters present their wares on the international market at a lower $US dollar price.

But it also means there is weak demand for your dollar - generally an indications that you have little to sell that the world wants.

Trouble is, in most cases you have to buy stuff overseas as well. So a low dollar hurts like hell.

The real issue with "The Great $150,000,000,000 bank guarantee" is that its simply not possible.

NZ has only about 1 million taxpayers.

It would cost each of them, $150,000 each.

I, like most NZers are better off letting them go broke !

[trustme]

Nonsense. The 20 year average for the AUD against the USD is 72 cents, so their currency is only slightly undervalued by historical standards.

Weak currency = more export earnings
Australia = export oriented economy

The real issue is whether China will dial down demand for steel and coal, not the short-term value of the AUD.

Precisely , my point is that you would not go to Oz based solely on the exchange rate being favourable,

Weak currency = more export earnings
So lets devalue our currency & we will all be living in clover. It doesn't work that way
I think Oz will bounce back, people need to sit tight & stop panicking

[reofix]

the banks are in business.. they make billions... and the govt has guaranteed no matter what they do wrong ... they will never go broke
i am in business... i make a living... and the govt promise me every month(via the ird) that if i make one little mistake they will bankrupt me ... god i love living in a free society!!!

[Max Preload]

I bet the same lefties that say government should not be bailing out 'big business' (like say the BNZ...) are the same ones that will think this bullshit is the best thing since sliced bread.