Thank you for sharing your thoughts with us.. My regards ======= S1000+
======= ________________________________ From: xi <[email protected]> To: World-thread <[email protected]> Sent: Thu, October 15, 2009 8:15:08 PM Subject: Re: NZ financial situation - Sumerian, in my opinion, they are exiting this short term crisis and require funds to make it grow smoothly and to avoid a double dip. Deficit is "allowed" right now, when it is efficient. When crisis starts deficits are useless because we cannot fight against the flow, and in good times we have to save for dark times ahead. NZ $ is high because to borrow it offers high yields, more if you compare it with US $. Therefore NZ$ raises. It is true that Australia is in a better situation. But, in my opinion, NZ is not that bad as it might look. Peace and best wishes. Xi On Oct 14, 10:56 pm, "Sumerian.." <[email protected]> wrote: > It looks that the Bank of England which determines all currency values of the > world are a little asleep. Currently the NZ $ has its highest ever value.. > Another proof of the complete lies and manipulation about currencies exchange > values.. It is only a another briber system that runs this awfully run > world.S1000+ > > Govt to borrow $40b to fund deficit > NZPA October 15, 2009, 6:36 am > NZPA © Enlarge photo > ADVERTISEMENT > > The Government will have to > borrow $40 billion over the next four years -- $250 million a week -- > after one of the worst fiscal years on record, Finance Minister Bill > English says. > > The Treasury yesterday released the Government's > final accounts for the year ended June which revealed a $10.5 billion > deficit compared with a $2.3 billion surplus in 2008. > > The recession was mainly to blame and Treasury said it was the worst budget > turnaround on record. > > Tax revenue went down by $1.3 billion while investment losses cost $4.1 > billion. > > The > signs of gaping holes in the books were beginning to appear in July > 2008 when the Treasury predicted cash surpluses would be a thing of the > past for the foreseeable future. > > Then the world was hit by the > credit crisis and the collapse of major international financial > institutions which brought on the global recession. > > Mr English > told Parliament the Government's deficit was a combination of the > recession and the "reckless spending policies" of the previous > government. > > That was fiercely rejected by Labour MPs, who said > the last government delivered the lowest unemployment in New Zealand's > history and the economy was prudently managed throughout its nine years > in power. > > Mr English said it was going to take 20 years to recover from the present > situation. > > "The Government expects that Crown debt will double by 2013," he told > Parliament. > > "In > total, the New Zealand government will need to borrow about $40 billion > over the next four years. That means we will need to raise $250 million > per week for the next 200 weeks." > > Over the next four years the cost of debt servicing would rise from $2.5 > billion to around $5 billion. > > Mr English said the increase would be more than twice the size of the whole > police budget. > ================= > > Some reactions from the New Zealanders: > mandparthur > > 16 minutes ago > > I voted for them because i thought we needed a change but > not change like this. The national party are just a bunch of > charlatans who are pulling the wool over the eyes of hard > working kiwis. They were left with a 2.3billion surplus not > a shambles at all. Global recession is a pile of rot as i > see it it was just a shift of power with changes in > government worldwide. The only reason Australia is not > affected is because they have Kevin Rudd and the Labour > party in power doin the job. ASll we seem .. > > kellyjohnson 1 hour, 29 minutes ago > > What did you expect. If you were foolish enough to vote for > them. What did you expect? > > ======= > > S1000+ > > ======= --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
