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Gian Businesses Index & Contractors in Levin and wellington NZ
 
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NZ FINANCIAL SITUATION 2011

2011 Feb Universal enrolment in KiwiSaver and a hike in GST to 17.5 per cent has been suggested by a Government-appointed working group,& that New Zealand is near bust & in a "depressed economy".

NZ AS AT DECEMBER 2010: The cash deficit from a forecast $13.3 billion in May to now $15.6 billion (7.7 per cent of GDP) figures released today in the Treasury's half year update show. That will now push up our debt to 28.5 per cent of GDP. The causes are the earthquake costs in Christchurch and the slow economic recovery

MAY - DECEMBER 2010: The Reserve Bank of New Zealand should stop raising interest rates as its not building up business confidence. Australia is not increasing rates just yet and can see what is happening but they have had a trade surplus and sold record coal and gold in May 2010 highest in 14 months. In NZ small business is suffering and will continue to do so because of interest rates, tax changes, material costs and goods & service increases. We could be looking at a double dip recession which we feel is on the cards as things get harder. Manufacturing has taken a bite as they leave our shores & building projects have stalled as steel and building materials keep rising and householders are now going slow on spending. TVNZ just laid off more staff and this will continue as our plight gets worse & Pike Mine has decided to go into receivership.

 

 

   

 

KIWI COMPANIES----

But whats the future look like for those already heavily committed & finance companies ability to invest successfully

  • Finance companies are not doing too well and those who have funds invested should check again on their investments . With real estate slowing down this could see more finance companies on the brink as well as a slower economy will affect exports and producers income.

MORTGAGEE SALES RISING ??

  • Household and external debt are still high. 8 properties per day under mortgagee sales in NZ as at July 2010 and this will continue. 121 registered mortgagee sales in February, 246 registered mortgagee sales in April 2010 & in July 343 mortgage sales that really is around 24% of total sales of real estate being mortgagee sales. Manawatu has approx 22 sales per month?? This is not the end but the start as costs increase and homeowners find it harder to make ends meet. Electricity and vehicle costs just increased and rents will rise due to the governments inability to stop hikes. Buying a mortgagee property sale is another matter

 

WHY YOU SHOULD NOT INVEST IN FINANCE COMPANIES IN NZ

Failed St Laurence Wellington finance boss continues living in a $2m home despite declaring himself bankrupt, robbing thousands of investors. Kevin Podmore has declared himself bankrupt, absolving personal responsibility for paying out any funds to the 9400 investors who lost $245m in his St Laurence companies.The bankruptcy should have little impact on his lifestyle as he is expected to continue to live in the $2.27 million family house that was moved into his wife's name several years ago. as at Dec 2011

 

 

With the EU still fighting the Euro even Australia stock market has dropped.

[ USA Federal Reserves audit & Bailout 2011 ] [ Whats Rehypothecation -mortgages 2012 ] [ Whats a reverse mortgage?? ] [ Save NZ Farms for Kiwis: STOP ] [ Building Tax depreciation NZ ] [ Hubbard vs Securities Commission ] [ Banks & Subprime Mortgage ] [ Failed Finance Companies ] [ Finance Report ] [ Property Report May 2010 ] [ Buying Mortgagee Property Tips ] [ Kiwisaver good or bad Providers ] [ Bank Lending Report ] [ George Soros Mortgage answers ] [ USA Printing $$$$ ]

WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] The issues are economics nothing else and many a time the owner is blamed for moving when in fact he has no say in the matter otherwise he will go bust. However read the reasons why NZ has lost the plot ---[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense.[ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ] [ Transmission Gully Impact costs ] [ Kiwi Family Savings Plan ] [ Benefit cuts good or meaningless ] [ Quit smoking-heres how ] [ Levin Business dying ] [ NZders lose out ] [ World population exploding ]

" Invest in finance companies--- crazy--- they can do what they like with your $$$$ "

 
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