By: edmonds57@xtra.co.nz
21/04/2009
7:33 am Yahoo! Profile:
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There is no doubt the banks are creaming it NOW ( in a recession). They are not suffering a recession. If the Reserve banks base rate is 3% and the bank lends to me to buy my house at 6% that is 100% mark up. Where as when the Reserve Bank base rate was 6% and the banks loaned it to me at 9% the bank had a 50% mark up.
They were more competitive then when the mark up was lower. (before a recession)
The banks have pulled out on John Keys package ... WHY should NZ tax payers guarantee the banks when they won’t support the governments’ recovery package?
While the banks are making ever increasing profits individual NZers are suffering. |
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By: jay.player@rocketmail.com
21/04/2009
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| There has been a call in the u.s to let these banks and struggling car makers die and I can see the logic behind it, apart from the tens of thousands of jobs at risk. Since the recession petrol has been cheaper and businesses are trying to find beater ways of selling green products to consumers. Some people may say the recession has been a good thing for the environment. Also greedy paper pushing companies are dieing. Sounds like evolution to me. |
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By: rlfdevelopments@xtra.co.nz
21/04/2009
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jay, you are a total RETARD!!! That is by far the most uneducated stupid quote I have ever seen!! Get a large blunt instrument and beat yourself as hard as you can over the head!!!
Banks definately over borrowed and did so in the US at seriously low rates to kick start the economy. Unfortunately for the banks in the US they could only take security over the houses and not personally so once they pushed interest rates up all the no deposit house owners packed up their four wheel drives and big screens and ran back to the trailer parks, now the drastic over supply of houses has caused prices to tumble and the banks are left in a mess!!
Here in NZ we are a little more insulated due to our migration currently running at around 3000 but will go to over 30,000 due to the one million ex pats we have off shore weighing up options in worse off countries and heading home.
Our banks have been more responsible than others but the days of 10% deposits are gone. Banks are now more interested in cashflow, and ability to repay.
Developers now require pre sales, businesses now need to "tick" every box just for small overdrafts!
Banks do need to cut business some slack here. Westpac are having all sorts of issues and National are also no longer "the business bank". BNZ secured $11 billion funding line and seem the best for business in todays market.
In saying that the worm has turned and we have bottomed out and are slowly on the way back up.
Banks need to back in big business as the result will be unemployment at record levels!!
Jay, you talk about evolution and selling green. Man you need to open your eyes and look a little further than your narrow wee mind can go as you have NO IDEA whatsoever about what you are talking about!! Go back to your state house idiot! |
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By: rlfdevelopments@xtra.co.nz
21/04/2009
3:28 pm Yahoo! Profile:
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edmonds, the other thing is the cost of money from the offshore spot market where 30% of our money was coming from and now more went from .2% premium to a full 2%.
NZ banks are now making LESS than they were two years ago. Westpac are tweetering big time!! Banks are not creaming it at all. Log on and see what economist Tony Alexandra has to say, he would be the best in the country and explains the whole situation well.
I'd be the first to slap banks as I have several business interests but stay close to the banking industry as change is forseen generally a few weeks before it hits. Hence the reason all the big players fixed rates a few weeks back sucking all the money out and forcing banks off shore for money and having to pay huge premiums for it. |
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By: madmumzy
21/04/2009
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mmm.....Jay
You should probably get back into your toy rocket and contemplate the evolution of the universe |
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By: edmonds57@xtra.co.nz
22/04/2009
6:47 am Yahoo! Profile:
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Well we could debate Tony alexander couldnt we?
If you think the banks dont cream it then you have your head in the sand.
Jay where did you come from?????? |
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By: rlfdevelopments@xtra.co.nz
22/04/2009
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edmonds, I really think you need to look into the banking system a little deeper as you are a bit out with this one. Banks are currently working on some of the lowest margins in 40 years!!
Alexander would be the best of the economists by a long shot. He's been saying migration will give us a softer landing for the last 12 months and now everyone is just starting to say it. He picks the cycles better as well. |
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By: edmonds57@xtra.co.nz
22/04/2009
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| Thanks for your advice.I would be interested in your further comments |
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By: rlfdevelopments@xtra.co.nz
22/04/2009
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Hey, at the end of the day we are all hoping the next 12 months will bring some stability back to the market!
Interest rates are only going to go upwards from here on in. Not too much though. cheers |
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By: claranceklonck
22/04/2009
6:16 pm Yahoo! Profile:
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I think the current situation is caused by 3 groups.
1 the commercial group
2 the religeous group
3 the political group
I may be wrong but all the worlds problems seem to be caused by these 3 groups.
opinions welcome |
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By: w.lanz@xtra.co.nz
23/04/2009
2:18 pm Yahoo! Profile:
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rfldevelopments beat yourself over the head with a blunt instrument and then research the Federal Reserve Bank, how and why it came into existence and who controls it.
Then you might want to study the Quadrillion dollar derivatives blackhole......... oh and be careful to cross reference your sources and avoid information from deceitful, privately owned, corporate media companies..... |
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By: bluboy@xtra.co.nz
23/04/2009
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| NO they arent a BIG CAUSE...they are the TOTAL cAUSE |
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By: rlfdevelopments@xtra.co.nz
24/04/2009
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| w.lanz. You are obviously a communist with a chip on your shoulder that resents business! How about you go play in the traffic idiot!! |
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By: claranceklonck
25/04/2009
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| The bankers lack of accountability amazes me. they are like so many before them, builders of leaking homes, finance companies, mortgage brokers, they all knew they were taking advantage. We are told it is the consumers fault for borrowing too much, if that is so why are finance companies still offering deferred and no deposit terms? My bank wrote to me last week advising me I can borrow even more on my credit card. Are they stupid or just greedy? |
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By: rlfdevelopments@xtra.co.nz
25/04/2009
10:33 am Yahoo! Profile:
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Their business IS selling money. You credit card carries a higher interest rate so naturally they push it.
Finance Companies are bleeding to death and they too are in the game of selling money!
No one takes advantage, they are all simply running their businesses and making a living.
People are accountable for their own actions and if they stretched themselves that's their problem no one elses!!
All these over PC people with a chip on their shoulder when it comes to business making money, fact is it's those businesses that pay tax and employ people that keep this country going! |
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By: claranceklonck
25/04/2009
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If these bankers are so clever, why is the biggest problem facing US banks is defaulting on gredit cards? The government has in the past told us to invest in the sharemarket,save with finance companies,save for retirement. none of these worked.
Business continues urging us to spend what we can't afford.
that don't work either. "investing it banks will get you a negative return due to tax on interest. I say stockpile beer, a raising commodity. |
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By: rlfdevelopments@xtra.co.nz
25/04/2009
11:18 am Yahoo! Profile:
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| clarance, your last line is perfect!!! Couldn't agree more hahahaha |
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By: claranceklonck
25/04/2009
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| Yea, its a better option than buying a rope and hanging around in the carport. |
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By: claranceklonck
25/04/2009
12:41 pm Yahoo! Profile:
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| Say no to Nathan finance, say yes to Lion Nathan, say no to Goldcorp, say yes to Export Gold. Don't buy a Winebox when you can buy a box of wine. |
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By: rlfdevelopments@xtra.co.nz
25/04/2009
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| I'll try your stategy tonight, the property market is flat so I'll try anything for a change |
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By: claranceklonck
25/04/2009
2:59 pm Yahoo! Profile:
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| Dont swallow anything that's flat |
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By: w.lanz@xtra.co.nz
25/04/2009
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Wow what a pathetic response rlfd......
You know nothing about me and it is obvious you know very little about what is really happening in the world. Do some real research instead of swallowing the propaganda mainstream is feeding you.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (the banks) will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." Woodrow Wilson, after signing the Federal Reserve into existence |
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By: w.lanz@xtra.co.nz
25/04/2009
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Yes, the bankstas are the total cause for the manufactured recessions/depressions. Inflation is just another form of tax. The current monetary system was founded on corruption.
They inflate the system until the bubble pops, then it's time to collect. This is psychological and class warfare. They are trying to bring back a feudal system and it is working.....
"Give me control of a nation's money
and I care not who makes the laws."
Mayer Amschel Rothschild |
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By: claranceklonck
25/04/2009
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| I don't blame the banks. they do what they do. Its interesting that Jesus likened the money lenders with the harlots? |
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By: claranceklonck
25/04/2009
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| They have the same thing in common. don't give a toss about their customers |
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