Stats NZ data shows labour market in rude health; weekly earnings up 10.4% from a year ago; incomes rising faster than expected & faster than prices; households and banks flush; bad debts low
I think you are onto it Bernard. Words. (tho I do hope you are okay only managing a minute's worth).
Great you challenge the distorted view of reality we are being bombarded with, but the misery is that so many people - voters! - don't question it.
On the subject of people and of words and in relation to my pet focus, the word 'consumer' - you make a perfectly normal comment - 'Anyone surprised by the ongoing strength of consumer spending need look no further.' What if we change it to citizen's spending so I don't see a mass of gobblers. How did someone illustrate as clearly as this game, what we (consumers) are meant to do? - 'Play PAC-MAN, the retro arcade game you know and love! Featuring new modes, mazes, power-ups, and more! Join millions of fans eating PAC-DOTS and chomping GHOSTS in this exciting arcade classic, updated for mobile!'
Thank you for keeping things in perspective. Interesting reading comments on your article on Interest.co.nz - a lot of people there seem to be set on the world entering the second great depression, and refuse to acknowledge any evidence that says otherwise.
I have to say, categorically calling that there is no major pain ahead seems awfully premature to me. I think this graph sums it up best. Most mortgage holders are yet to feel the full pain of rate rises yet, so its far to early to call how this will play out
Great commentary, as usual. But it’s a very important point to keep making that there is indeed a “squeezed middle” that’s fast turning into the “working poor” & it’s those household above welfare eligibility thresholds who don’t own assets.
They’re the “hidden” squeezed middle that the NActs don’t give a damn about but who are showing up more & more with the community groups I work with on (energy) hardship. Except that by the time they show up at food banks or budget advisors, they’ve often already dug themselves a massive hole trying to hide the whakamā of not being able to service their “middle-class” status anymore...
I worry that that subtle difference may get missed when you say there ain’t no squeezed middle, Bernard (but then, the MSM isn’t talking about them either) 😞
Only 1 min of the podcast? Is that an error?
Release please Bernard. Sick of the drivel from Nicola Willis on National radio this AM
Patrick Medlicott
'3 That’s ‘t’ for trillion by the way. That’s 1,000 billion. You feeling it?'
Thanks for the pointer. But it would be easier reading simply to write it in full in the text, and dispense with abbreviations.
Yes, do I need to sign up to the app? That's a bit much for an old person like me! Ha ha.
Gotta be more 😊 or losing the will to live (entirely understandable)?
I think you are onto it Bernard. Words. (tho I do hope you are okay only managing a minute's worth).
Great you challenge the distorted view of reality we are being bombarded with, but the misery is that so many people - voters! - don't question it.
On the subject of people and of words and in relation to my pet focus, the word 'consumer' - you make a perfectly normal comment - 'Anyone surprised by the ongoing strength of consumer spending need look no further.' What if we change it to citizen's spending so I don't see a mass of gobblers. How did someone illustrate as clearly as this game, what we (consumers) are meant to do? - 'Play PAC-MAN, the retro arcade game you know and love! Featuring new modes, mazes, power-ups, and more! Join millions of fans eating PAC-DOTS and chomping GHOSTS in this exciting arcade classic, updated for mobile!'
Our endless chomping is devouring the planet.
Thank you for keeping things in perspective. Interesting reading comments on your article on Interest.co.nz - a lot of people there seem to be set on the world entering the second great depression, and refuse to acknowledge any evidence that says otherwise.
No worries at all. Your work rate is phenomenal. I worry you’ll implode at some point. 😊
“total weekly gross wage payments averaged $2.7b in the September quarter, up 10.4% from the same quarter a year ago;”
Didn’t an Auckland lockdown affect last year’s figures?
Thank you for restoring my equilibrium.
I have to say, categorically calling that there is no major pain ahead seems awfully premature to me. I think this graph sums it up best. Most mortgage holders are yet to feel the full pain of rate rises yet, so its far to early to call how this will play out
https://imgur.com/a/Qx9049M
Great commentary, as usual. But it’s a very important point to keep making that there is indeed a “squeezed middle” that’s fast turning into the “working poor” & it’s those household above welfare eligibility thresholds who don’t own assets.
They’re the “hidden” squeezed middle that the NActs don’t give a damn about but who are showing up more & more with the community groups I work with on (energy) hardship. Except that by the time they show up at food banks or budget advisors, they’ve often already dug themselves a massive hole trying to hide the whakamā of not being able to service their “middle-class” status anymore...
I worry that that subtle difference may get missed when you say there ain’t no squeezed middle, Bernard (but then, the MSM isn’t talking about them either) 😞