Fisher & Paykel - fuc-ing shocking

[HenryDorsetCase]

July last year I posted NZ was in for a bumpy ride.
It hasn't even touched any serious turbulence yet.
My other comment was to reduce debt, and get ready for 3yrs of tough times.
Anybody want to argue against this?
The dollar will eventually drop to historic/sensible levels, but only after the rough patch.
Best people learn how to plant a vegetable garden again.

Concur. 10chars

[Coldrider]

We are on 3rd world wages, that is why house prices have to drop, we can't afford them, or so we are told, but what was the reason they went up when we could not afford them, as soon as there is a price anomally in a market, there will be a reaction.

[tri boy]

but what was the reason they went up when we could not afford them, as soon as there is a price anomally in a market, there will be a reaction.

Easily available cheap money via banks etc.(off shore money chasing our high interest rate), and greedy people pushing for large capital gain in the housing market. (can't blame them for that, but it really was a "house of cards" waiting for the first credit squeeze).
Well, the international squeeze is happening, and NZ is in a bad position to ride it out. As Gareth Morgan said a few months back when the Govt tryed to play the market with our dollars, "we're dog tucker now".
Damned if the interest rate stays up, (uncompetitive), but need it up for the foreigners to stay interested, (which helps keep us financially stable).

[Coldrider]

Easily available cheap money via banks etc.(off shore money chasing our high interest rate), and greedy people pushing for large capital gain in the housing market. (can't blame them for that, but it really was a "house of cards" waiting for the first credit squeeze).
Well, the international squeeze is happening, and NZ is in a bad position to ride it out. As Gareth Morgan said a few months back when the Govt tryed to play the market with our dollars, "we're dog tucker now".
Damned if the interest rate stays up, (uncompetitive), but need it up for the foreigners to stay interested, (which helps keep us financially stable).

Totally agree, i have built three new houses over this period and am on the pigs back all the way. The cycles have always been there since the US started to value their dollar after the 30's depression.
Nzer's have had expensive interest rates compared to the US but the problem those expensive interest rates halt investment in other productive areas of commerce. It is going to get to a point where the dollars of debt and cost of living is exponentially higher than the wages we earn, when about capitalism may fail.

[Morcs]

Injection moulding/toolmaking will also be hit hard with the trade agreement. Get out while you can!

Nah, its looking promising. Found out today, our 2 major competitors (owned by a big oversees corporation) have gone into recievership.

So we are going hard to poach the tools.

[SixPackBack]

Nah, its looking promising. Found out today, our 2 major competitors (owned by a big oversees corporation) have gone into recievership.

So we are going hard to poach the tools.

I would have thought that was an excellent indication of the creeping paralysis hitting the industry. Competitors are going bust, major toolmaking companies are in big trouble.........
Mint technologies have gone into recievership after purchasing Form plastics and Brian o Brian only 8 months ago-a strong indication not all is well!
Your optomism is admirable but not well placed.

[MisterD]

I would have thought that was an excellent indication of the creeping paralysis hitting the industry. Competitors are going bust, major toolmaking companies are in big trouble.........
Mint technologies have gone into recievership after purchasing Form plastics and Brian o Brian only 8 months ago-a strong indication not all is well!
Your optomism is admirable but not well placed.

However "Last man standing" is a valid business strategy....

[steved]

yeah i agree its bull shit
ya get told to buy nz made ,
and all for what

what a fucken waste of doing anything at all for this shit hole ,
why dont we all , every person go buy a plane ticket to aussie .

F&P closed a plant in Australia to. Should everyone leave Ozzie as well?

[Morcs]

I would have thought that was an excellent indication of the creeping paralysis hitting the industry. Competitors are going bust, major toolmaking companies are in big trouble.........
Mint technologies have gone into recievership after purchasing Form plastics and Brian o Brian only 8 months ago-a strong indication not all is well!
Your optomism is admirable but not well placed.

you seem to know a lot

what do you do?

[avgas]

July last year I posted NZ was in for a bumpy ride.
It hasn't even touched any serious turbulence yet.
My other comment was to reduce debt, and get ready for 3yrs of tough times.
Anybody want to argue against this?
The dollar will eventually drop to historic/sensible levels, but only after the rough patch.
Best people learn how to plant a vegetable garden again.

"You have given out too much rep in the last 24 hours...."
Sorry man - but its how i feel as well.
But no - forget your dept lets save for your retirement. Thanks labour, but i'll get rid of the debt first.

[SixPackBack]

you seem to know a lot

what do you do?

Run an R&D department. However I am also a Toolmaker with a father/father in law/brother in law all Toolmakers.
Dude not all Plastics factories will fail, there will always be local product. Also given enough time the worm will once again turn resulting in the so called developing countries becoming expensive.
I remember 'Jap crap' in the 70's and look at them now!

[The Pastor]

nz is not good at manufacturing. so it should not do it.

[Toaster]

Stuff that. A free sombrero or nothing!
Luckily in a few years time, NZ will be a cheap labour source and we will be attracting work from (other?) third world countries.

I wonder if you will be able to get a free squishy from ANZ/National bank soon...?

Yes I did hear the news... I am on leave at the moment.... maybe it will be a longer holiday than I thought!

MORE RIDING!!!!!!!!!!!!!!

[homer]

F&P closed a plant in Australia to. Should everyone leave Ozzie as well?

maybe they just should , maybe
not as know as an australian brand though

[MD]

She may be a beautiful sexy woman but I still blame Aunty Helen and her best buddy Michael the arrogant prick - Where the hell are our tax breaks.
Ireland turned it's economy around with the help of..wait for it, tax cuts.

Thailand have offered F&P eight years totally free of any tax! Just pause for a second and try and absorb that benefit. Bloody Labour have spent years telling private individuals and businesses that we don't deserve, or need tax cuts. And besides, with tax cuts how can Labour continue to promote welfare as the preferred way of life.
Right now the Labour party are singing out of tune poorly altered Kenny Rogers songs to celebrate 430 more beneficiaries as a victory.