Posted on 10/07/2021 7:48:52 AM PDT by ChicagoConservative27
New Zealand largely kept out Covid-19 by closing to the outside world, a policy accompanied by stimulus to keep the economy moving. Now the resulting labor shortages and surging demand, notably for housing, have led it to become one of the first developed economies to raise interest rates since the pandemic began.
(Excerpt) Read more at foxbusiness.com ...
Our Federal Reserve is trying really hard to not raise rates and to keep QE going. They don’t want to tank the market until a Republican is in the WH.
Well, they recently admitted that they could no longer try to wipe out the virus altogether. The labour shortage must be one of the obvious consequences from that sort of ill conceived idea.
A fine policy for a nation highly dependent on tourism...
On the south island, I’d say almost 50-percent of all cash-flow is related to tourists of some type. I spent 18 days in NZ in 2018.
Bank of Mexico raised rates last week.
It may become more difficult for the FED to remain dormant.
Social Security COLA is coming out soon and it is expected to increase around 6%.
I know they recently lost the filming of a LotR series there.
Was your trip cool?
Great trip, but you can minimize any time on the north isle (no more than 2 days in Auckland). I’d spend the whole time mostly on the south isle, and rent a small RV.
Will say out side of Auckland...everyone is friendly. Great hearty food. Will say that 3 weeks is the minimum you need to spend there.
OTOH, there’s a FReeper who runs a Bed and Breakfast on the North Island...
Thanks for the info.
NZ is going down the tubes fast.
I hope the smug liberal American ex-pats who moved their will enjoy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.