Panel 1 Fonterra auction Power prices Down 12% Near Feb low Panel 2 NZ$4.55/kg payout 59 USc assumed Now 65 USc Lower payout? Panel 3 Longer recession December qtr? Australian GDP RBA holds at 3% Panel 4 RBNZ June 11 Lower OCR Cut to 2.25%
Panel 1 Kiwi$ hits 65USc Weak US dollar Export pain Longer recession Panel 2 GM bankrupt 17 plans shut 20,000 workers Benefits slashed Panel 3 Good news Chinese factors Expanding 3rd mth in a row Panel 4 Close Cullen fund Gareth Morgan Kiwishare review Local calls?
Bernard Hickey details the key news from overnight in 90 seconds at 9 am, including a scoop in the Dominion Post that the major power companies have overcharged New Zealanders by NZ$4 billion or NZ$1,000 each in the last 6 years, while the US Federal Reserve downgraded its economic forecasts overnight and said it may increase its money printing.
Bernard Hickey has a closer look at the Official Cash Rate cut by the Reserve Bank, and what it means for the New Zealand economy. The OCR was cut 50 basis points to 2.50%.
1. Save it. How boring, but helpful in the future. Even though NZ$10 a week might seem a trivial amount, over the year,
Panel 2 Ex-pats returning? Cashed up buyers? China up 25% India up 36% Panel 3 UK up 2.2% Numbers equal Up 7500 net
Panel 1 NZ$ at 56 USc OECD report Dow rally Best since 1938 Panel 2 More bank bailouts Stress tests near Wolak report Power price gouging
Bernard Hickey delivers 6 Great Tips to survive the Great Recession in 60 seconds. Every week until the recession ends we'll give a fresh batch of 6 Great Tips in 60 seconds. 1. Chop up your credit cards and use Visa/Mastercard debit cards instead if you need to buy online. 2. If you have both a mortgage and a savings account, use the savings to pay off the mortgage as quick as possible. 3. Never buy a new car and never spend more than NZ$10000 on a used car. Always use TradeMe for cheap ...
Panel 1 Fiji$ devalued 20% S&P cuts Fiji to B- Deep US recession Fed reports Panel 2 Some stabilization US deflation 0.4% First times since 55 UBS cuts 8700 jobs
Panel 1 Fiji bank crisis Currency controls Governor in prison 3 mths imports Panel 2 Deals suspended Cash withdrawals Passport to poverty Tourism down Panel 3 Bernanke positive Tentative signs Slower rate of fall Obama positive Panel 4 US sales ↓1.1% PPI ↓1.2% Brown shoots Dow down 120 pts