NZ dollar hits US76c. How does this affect you?

[kickingzebra]

so my estemed friend Mr Zebra...do you think Mcdonalds hamburgers will ever be $1.20 again?

Absolutely... All you need to do is get someone else to pay the fare to LAX. McDs is right in the lobby... But there are quite a few lobbies... You'll find it, it is like a shining beacon of light in a sea of expensive airport stuff.

[QMOTO]

High dollar, export nation.

Are we, I think we are far better at Importing that exporting, policies for exporting are crap in NZ heance our big exporters leaving in their droves, if our farmers could pack a plane load of cows to China they would have already left by now also.
NZ is an importing Nation, soon we will make nothing and import everything.............importing is the way of the future for NZ (maybe not a good one, and yes my tongue is planted in my cheek with above comment)

[cowpoos]

I don't work for a govt department as such.. I work in the IT department of Te Wananga O Aotearoa,

*Giggle*

*Giggle* You havnt read many of my posts have you? I think Rob Muldoon, Margaret Thatcher, & Genghis Khan were all a bit too far leftwing for my liking.

Well with your small minded thinking...and total lack of though of consequences I was only asumming you were a labour voter...but now I can see that you would be a supporter of Hitler,Polpot or starlin...people with delusions or grandure

Is it good for me, in my current employment, financial position etc? Yes.

probally not as the government has less tax money to spend as the economy goes backwards and they start make funding cuts to the less viable educational institutions...

[cowpoos]

Absolutely... All you need to do is get someone else to pay the fare to LAX. McDs is right in the lobby... But there are quite a few lobbies... You'll find it, it is like a shining beacon of light in a sea of expensive airport stuff.

Errrr right o then...umm...can I borrow 60c then?

[RantyDave]

There is no shortage of property in NZ right now that will more than cover its mortgage repayments and other expenses, and leave a healthy surplus after tax.

See, if you can find one that works properly ... as you obviously can ... then I can only suggest going for it. One side effect of the high house prices is no shortage of rental demand...

I only take my deeply negative position on the whole thing since all I ever hear about is rents not even covering the interest.

Dave

[Lias]

probally not as the government has less tax money to spend as the economy goes backwards and they start make funding cuts to the less viable educational institutions...

TWOA is one of the biggest tertiary providers in the country, and is actually in a better financial state than most of the polytechs, and not a few of the uni's. They also target and cater to the very bottom end of tertiary education, particularly people who didnt finish high school and wouldnt get into a normal uni/polytech, there are a hell of a lot of those people in NZ.

[kickingzebra]

See, if you can find one that works properly ... as you obviously can ... then I can only suggest going for it. One side effect of the high house prices is no shortage of rental demand...

I only take my deeply negative position on the whole thing since all I ever hear about is rents not even covering the interest.

Dave

Don't believe what the masses or the media tells you in that respect. Sure, sometimes some creativity may be required, but nothing that can't be learned by reading a few books.

I still remember Olly Newman trying to bring about a property bust 2 years ago by appearing in all the media saying, I am a wealthy property investor, and I am diverging my assets, because it is going to crash. You should too...
Self fulfilling prophecy with someone at that level, and yet the market still continues to climb...
If anyone cares to look they will find a way.

[bane]

Unless some damn gubmint intervenes at the behest of exporters and similar..

BINGO - Reserve bank has started selling our currency!

that should shit our economic reputation around the world....

you cant f#ck with market forces - it will head back up again....

[James Deuce]

http://www.stuff.co.nz/4091520a10.html

Looks to me like our International rep will actually be pretty good. The US fiddle with their exchange rate all the time. We've done it once in 20 years and for the right reasons.

[cowpoos]

http://www.stuff.co.nz/4091520a10.html

Looks to me like our International rep will actually be pretty good. The US fiddle with their exchange rate all the time. We've done it once in 20 years and for the right reasons.

hmmmm......our economy is rather emotive at the moment eh!!

[Toaster]

http://www.stuff.co.nz/4091520a10.html

Looks to me like our International rep will actually be pretty good. The US fiddle with their exchange rate all the time. We've done it once in 20 years and for the right reasons.

I agree. It's a nasty business.... I only wish i knew beforehand so I could have bought lots of FX!!

[bane]

Gareth Morgan quotes:

"bad desperate move"

"reserve bank are dog tucker"


NZ is too small a player to get away with this. Reserve Bank is playing with loose change....

[James Deuce]

Yep, but 5c more and NZ tanks into 3rd World territory. The Wairarapa is prime Dairy country but more and more Dairy farmers are taking to the service industry equivalent of farming and selling services to the big Dairy farms up north, resting stock and growing feed, because the small margin they had in primary produce disappeared over the last two years.

Gareth is only saying that because if the dollar falls again it will mean that his overseas bike jaunts will cost him more.

Our balance of payments is appalling, but that always gets ignored in any discussion about the economy.

[bane]

Bollard quote:
"we regard current levels of the exchange rate as exceptional and unjustified in terms of the economic fundamentals"

hmmm - highest dairy commodity prices in 30 years, high interest rates compared to risk, very weak $US, why does he think our currency is overvalued?


I agree that a high dollar effects exporters competitiveness. However I dont see that as all bad. Surely it is pointless to say we earn lots of $NZ if they arnt worth anything?
(Dairy farmers are the classic case - they got a "big" dairy payout a few years back when the $NZ was around $US0.39 - since then the relative payout has actually been higher, but they have pleaded poverty).

Id like to see the $NZ stabilise (i.e. get rid of the huge volativity) around the US$0.70 mark. It will force our exporters to become as efficient as possible, while giving NZers real wealth.

[bane]

Yep, but 5c more and NZ tanks into 3rd World territory. The Wairarapa is prime Dairy country but more and more Dairy farmers are taking to the service industry equivalent of farming and selling services to the big Dairy farms up north, resting stock and growing feed, because the small margin they had in primary produce disappeared over the last two years.

yep those dairy farmers are hurting - highest payout ever coming, and its real money with the $NZ worth something!