The eyes of the world's financial markets will be on New Zealand this morning when local markets open. After the carnage around the world at the end of last week, and the credit rating downgrade of the USA, ours are the first markets in the world to start trading for the new week.
We generally don't have a lot of spare dosh, so we avoid the financial markets like the plague! Our one exception is our Kiwisaver fund; last time figures were released, our fund managers were among the top performers in their category. We trust them to make good decisions with our retirement provision.
But there will be a lot of nervous people today as the markets open. Exporters will be hoping that the New Zealand dollar continues to fall. We are, when all is said and done, an economy which is heavily reliant on export earnings, and a NZ$ in the high 80c range against the US$ has not been good news for a fragile economy. Let's hope that with the benefit of a weekend to pause and draw breath that world markets stabilise today, led by one of the smallest.
3 comments:
When I was a trustee of an organisation which had around $200m invested, our advisors regularly provided us with graphs showing that good shares gave the best longterm return.
The trick is to know which are the good ones :)
Prime Minister Jonh Key looks handsome and self-assured in this clip.
http://www.youtube.com/user/redalertblog#p/u/3/JiZ7qXR32QE
Key is incompetent. He is shielded from the media by Joyce et. al. The only time Key has had to deal with hard questions is in the BBC interview and he crashed and burned. I have no confidence in the PM to do anything other than smile, wave, look relaxed and gamble our future. It's obvious Goff's many years of experience as a very capable minister (right wing propaganda BS notwithstanding) would be better suited to the current climate. We don't need a popular celebrity, we need someone prepared to do the hard yards.
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