Forum Archive Index - January 2002

["Richard Hooper" <hoop@ihug.co.nz>]

There seems to be a flaw in NZ econmic system,at least 20yrs old now, relating to NZ savings.

It hasn't seem to worry the economists nor Tresury boffins in the past ...so.....what is Don Brash referring to really ....time to fix the flaws in the system to make NZ more business orientated / efficient??........if no change perhaps a warning that another extra interest rate be added to compensate for our many defiencies within the system???....or what???

There seems to be more questions than answers here.

    Maybe the problem could be too hard to fix without causing much pain,so no politician is willing to try......

 

    It seems clear cut however that if some tinkering is started that the first sector that will feel the pain would be the retail market sector with the trickle down to other markets happening  at various stages later. Small retail businesses are very fragile at the best of times thanks to WHS BSG PRG RBD etc...so what happens if the government tips the scales too much??? 

Scary stuff........I wouldn't like the job to fix the nations saving record,  would you???

Live long and prosper a little less

Hoop

----- Original Message -----

From: Peter

To: sharechat@sharechat.co.nz

Sent: Sunday, January 27, 2002 10:17 AM

Subject: Re: [sharechat] Charles Dickens

Right on Marilyn. For Brash quite a good speech though and one anybody interested in the future of this country should read. On the Reserve Bank web site.

 

There is that other point Brash made in that speech about why NZ'ers don't save - in that NZ'er's have been told by successive governements that we do not need to save for the things that people in many other conutries save for. Access to things such as health, education and superannuation seems to be the god given right of NZ'ers.

 

Suppose no harm in the Governer of the Reserve Bank calling for 'social reforms' and for us to change our view on life.

 

 I enjoyed his other quote from a book written in 1886  "I fear it is no use writing against excessive borrowing. The disease must run its course and no one will rejoice more then the writer if a certain cure is found for it. There are reckless lenders as well as reckless borrowers and the two must share the difficulties and troubles which may be in store for them in the future".  Obviously an age old problem.

 

Bit of worry when Brash's colleagues browse second hand book shops - hope they are not looking for inspiration

 

Cheers

 

Peter