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Cheer up, Daz, for recognising past failures is valuable knowledge for better ways into the future. Instead of mourning over spilt milk, why not call energetically for a higher capital (NZ Super Fund) accumulation rate to take over foreign financed mortgages and satisfy the demand for them until saturated, after which there is bound to be enough capital available for other investments and even export, for NZ To become a proper economic (mini)tiger in economic growth acceleration, and also eliminate its own internal pockets of poverty! If you cannot believe in that, come up with substantiated counterarguments or better solutions, so we all become more enlightened on the team effort we need to catch up and compete with Australia!
Jens.
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It's a valid point about Kiwibank, why o why did we( nz gvt) sell our interest in NZ owned banks in the first place?
Surely part of an appox $2b profit annually would have been more useful GDP wise in NZ??
And what has the effect of the lastest interest rate rise?....more eurobond issues to satisfy the nz fixed rate mortg market, higher int rate for exporters/manufacturing not to mention the exchange rate!