Friday, March 24, 2006

The brakes are on

REUTERS: WELLINGTON, March 24 (Reuters) - New Zealand's economy contracted 0.1 percent in the fourth quarter on a seasonally adjusted basis, according to official data on Friday...

Recession, Definition: A recession is defined to be a period of two quarters of negative GDP growth.

So we're not there yet. But hasn't Alan Bollard done well.

LINK: TABLE-NZ Q4 gross domestic product falls 0.1 pct - Reuters Business
Questions, rhetorical & otherwise, about Reserve Bank meddling - Not PC

TAGS: Economics, Politics-NZ

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3 Comments:

Anonymous Ruth said...

When everyone is calling recession you know what is going to happen don't you? Business/consumer confidence etc are all contrarian indicators - if you are a contrarian investor like me.

NZSE closed at record highs today...

"The economic data that is coming through is nothing but bearish, but the market's soaring away," Mr Willis said.

http://www.nzherald.co.nz/section/story.cfm?c_id=3&ObjectID=10374309

People aren't stupid - and they are a lot more intelligent than Alan Bollard and partisan political bloggers trying to herd them to the exit.

3/24/2006 06:54:00 pm  
Anonymous ruth said...

Mmmm - up 53 points today. The market is SMOKING. Now some could say punters are irrational, or some could say right wing bloggers trumpeting economic armageddon are full of shit - and do not understand the concept of a global, transferable economy.

The market has factored in any 'recession' - we are already on the way to recovery.

Reality is the final arbiter, so right wingers can continue driving their smelly, 10 year old Toyotas, while the rest of us recognised the investment opportunity the decreasing dollar provided.

3/27/2006 09:28:00 pm  
Anonymous Ruth said...

Lord - I'm a lone piper on this one. Guess I'm the only blogger making money. Now why does THAT not surprise me?

That's the last time I give you a tip PC - no thanks or anything and it's up 10% in 2 days. You only need one good call to make a fortune - no diversification required.

But I guess bloggers are sitting in the basement with their Jedi collection, pondering how the markets are all about philosophy and not math...lol.

3/28/2006 04:06:00 pm  

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