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NZ Prime Minister has emerged as something of a cavalier with a unique approach to solving the current economic crisis, in an interview published in the Wall Street Journal on the weekend.
"We can use this time to transform the economy to make us stronger so that when the world starts growing again we can be running faster than other countries we compete with", John Key told the Journal's Mary Kissel in an interview conducted in his Beehive office.
http://www.nzherald.co.nz/business/n...ectid=10560868
THE REASON : NZ cant borrow any more monies (Govt debt to GDP is around 25%, not bad, but non govt debt is about +175% to GDP), as SP would downgrade NZ.
So NZ does not have a choice, cant spend our way out, must produce then.
INVESTMENT ADVICE: Some of the best returning Dairy farms in the world are in the South Island, buy one when prices collapse. The falling NZD should help as well.
"We can use this time to transform the economy to make us stronger so that when the world starts growing again we can be running faster than other countries we compete with", John Key told the Journal's Mary Kissel in an interview conducted in his Beehive office.
http://www.nzherald.co.nz/business/n...ectid=10560868
THE REASON : NZ cant borrow any more monies (Govt debt to GDP is around 25%, not bad, but non govt debt is about +175% to GDP), as SP would downgrade NZ.
So NZ does not have a choice, cant spend our way out, must produce then.
INVESTMENT ADVICE: Some of the best returning Dairy farms in the world are in the South Island, buy one when prices collapse. The falling NZD should help as well.
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