Infometrics CEO Brad Olsen on the economy

[@andreatodd3095]

Primary industry is lacking workers, holding up exports and imports.

[@lorrainedilks4053]

More money has gone into the economy as everything has gone up in price. More money but less goods and services.

[@billywhite7860]

Brad Managed to skirt around the real reason the Silicon Bank failed which was nothing to do with profits is was that they had to many high value deposits which under US laws required them to get the excess cash off their books. To do this they purchased government bonds which they were loosing money on due to the government increasing interest rates and the US government refusing to let the bank out of their government bond investment. SO a bank being profitable does not exclude it from going under

[@GOATlogics]

Exactly!

[@roilhead]

Three US Banks have tipped over now and it's not Monday bank run day yet. Bitcoin is 10% up with people jumping out of the USD. The vast majority of people wouldn't have a clue that the US is collapsing. Hell this economist has even got a clue that it going on. "Bitten off more than it could deliver on"???? How many policies did they deliver on? Just about none! The longer I listern to this guy the more I realize that he hasn't got the clue what's going on.

[@Marius_vanderLubbe]

So in short - more of the same and worse for the working class.

[@andreatodd3095]

Not necessarily a negative for workers, negotiate higher wages, we need workers skilled people are needed,

[@Marius_vanderLubbe]

@@andreatodd3095 Recessions are always a negative for workers. Workers shouldn't have to negotiate for higher wages - they should have a decent and fair wage by right. Yes, we need skilled workers, mainly because ours are leaving for other countries where they get much better money.

[@andreatodd3095]

@@Marius_vanderLubbe a decent wage by right.....interesting, so many people had to march and protest to get a good wage, an employer will only recognise the value of a good worker if they aren't there to do the job.....the reliance on good workers gives people the power to negotiate

[@Marius_vanderLubbe]

@@andreatodd3095 The point is that the workers shouldn't ever have to march and protest for what is theirs by right. A fair and decent wage isn't something to negotiate - the working people have limited time for their personal lives without having to march on their days off for a decent wage. The reason workers have to do any of those things is because the wealth is in the hands of the people who benefit from the workers labour.

[@andreatodd3095]

@@Marius_vanderLubbe they need to find employers who value them. Unfortunately some companies wage payment budget isn't that high because of market driven overheads. Not the workers problem but it does effect them.

[@DownUnderWarboss]

The real question is that whether we will accept the new multi polar world and our connection with China.

[@chrismckellar9350]

Whilst I am not a fan of Brad Olsen, I do agree with his comments. Unfortunately there is a group in NZ society of soft, complacent, entitled people who moan and whine if there is any economic or weather disruption that prevents them to get what they want when the click their fingers. The reality is consume less and save more with a practical cost of living budget. We need to have adaption resilience in our lives that can cope for current and future economic and increasing disruptive effects of a slowly increasing warming planet.

[@Last_March_of_the_Gents]

My mortgage payments have increased to $1,350 per week. We didn't over commit ourselves, we managed to save up $200k to get ourselves into a modest 1.1m house 2 years ago. At that time, that mortgage was still less than the $950 per week rental price in semi rural Auckland, with 2 hours travel to work. Thats not being "soft" - I have 3 kids that i want to provide, and more critically, save for a "rainy day". With the current cost of living + rates increase, younger professioanl families in essential services are going to pack up and go abroad creating more skill shortages. If the middle class packs up, who is the government going to squeeze to keep the wheels turning?

[@andreatodd3095]

Agree Chris, can't help the negative attitudes of people who haven't or don't want to adapt. We are all in a state of adaptation atm....this is what gets the digestive juices going for people with initiative and drive...I always look for opportunities to improve or save. Those who hesitate will be lost.

[@andreatodd3095]

@@Last_March_of_the_Gents firstly congratulations and well done for saving that deposit for your house, a rare thing these days. That is a big repayment hike pw. Is it possible to use your property to fund the extra like a boarder etc. Is there space to charge rental for a boat for a city dweller who doesn't have space? We must try and keep hold of our homes so maybe talk to the bank.

[@chrismckellar9350]

@@Last_March_of_the_Gents - Welcome to the world of 37 years of 'for profit at least costs' neoliberal economics and governance helped along with financial greed that has created the current economic, infrastructural, housing and social mess this country is currently in.

[@roilhead]

Three US Banks have collapsed!!!! It is massive doom and gloom just since this morning that this guy hasn't got a clue about. He's just a Labour mouth piece.

[@stephendickson9000]

Economist eh? A third bank has tipped up in the US. Bank of America is on the wire...

[@lorrainedilks4053]

Fed has bailed them out.

[@vumba1331]

There are already noises coming out of Scandinavia that some of their pension funds were putting money in with these SVB guys, and buying their shares, as late as Thursday of last week. So, as with the dodgy sub-prime mortgages of 2008 there will be some contagion. SVB in UK has been closed up by Bank of England and evidently Barclays Bank is already limiting withdrawal amounts from their teller machines.

[@roilhead]

@@lorrainedilks4053 No they garenteed their deposits. Completely different. Where does the money come from... Printing which creates more inflation which tips over more banks...

[@stephendickson9000]

@@lorrainedilks4053 just talking about it atm

[@roilhead]

EXACTLY! This guy has his head in the sand or a Labour hand up his ass moving his lips. His credibility is zero after this show.

[@gregg7617]

The Greatest Secret , Richard Vobes 👍⚔️🕊️

[@barrywalsh7926]

Sean, It would be great if you could do a program, comparing the economies of New Zealand and Norway. The two countries similar in size and population, but Norway has over one trillion dollars (US) in sovereign wealth funds. Yes, Norway has North Sea oil, but surely we can learn something from Norway's economic policies?

[@Peter_Pepper_Love]

Norwegian 'WHITE POWDER' 🤚🏻😤💨🤍

[@TheMarathonomahos]

If you want their tax rates

[@MarkSinclair-iv5rc]

Silicon Valley Bank has crashed that's going to hurt.

[@roilhead]

Three US Banks are gone now and it's not 12.00am on Monday. Wait till the door open in the morning there will be lines outside all US banks and that will spell the end.

[@Peter_Pepper_Love]

Kiwi Bank 🤔

[@MarkSinclair-iv5rc]

@@Peter_Pepper_Love Black Rock is handles Kiwi Saver don't they

[@brucegibbins3792]

Glumness? Is that even a dictionary word?

[@murrayleckie4937]

Agreed. Gloom might be a better option,

[@vumba1331]

Feeling glum is a human reaction to the economic gloom, and yes it is an old English word, much more than some of these bl00dy US words such as 'gotten'.

[@roilhead]

Glum would be a word that explain this guy's ability to do his job.

[@Peter_Pepper_Love]

B'GAUK! 🐔 "The sky is falling in"

[@kevd2448]

Brad inflates himself

[@arthurking2614]

Brad on banking, nothing to see here, you with a deposit like profit bloated bank don't you. Given deposit bail ins, why be a depositor?