WORLD & NZ BANK REPORTS

NZ should be careful now as we will be heading for another

Recession 2011

Why?? well the EU Banks are no longer eligible for Bailout money & the emergency funds have been stopped as at 29th July. Total liabilities are €23 trillion for the eurozone and €8 trillion for the UK, Sweden, and Denmark. It will also mean that Banks whose loans are being recalled by 2012 will not be able to borrow funds and no debt guarantees with the Netherlands already inacting these measures and as liquidity regulations come into effect then the competition for available refunding will take the forefront and may lead to a further recssion by 2012 but we think 2011.

DEBT FREE IS THE WAY

• BORROWING & DEBT FREE: As we know borrowing off the Banks costs and the more you borrow the more you pay back. Our formula borrow $10,000 x 2 = $20000 + 1/2 = $5000 and you pay back approx $25,000 immaterial of the interest rates & inflation. By age 60 years you must or shuld be mortgage free. If not and youre still working with no savings for retirement you will lose.
• Credit card interest rates can be double that of a mortgage. To get out of a mortgage you must pay the Bank a closing fee which can be quite a lot so ask these questions first. Banks never tell you that interest rates are over the top. They say pay the minimum back so theire interest rate & profit becomes higher. Besides today an Amex Green Card is the best card to have to use money. No bank fees on purchses like a Bank; no yearly fee apart from the $55 card fee??? yet Visa and Mastercard have up to 23% in charge rates to cripple you.
• Where people get trapped: Paying off a mortgage can take years & then people do not save in the meantime. Some forget about the emergency funds then borrow more or want a new car and the Bank allows them more funds and so it gets harder as the years tick by. Selling the house to buy an even better house just starts the process off again and the saving plan remains in the back burner. Thus renewing the debt is not an option if you have no savings. If you owe tax on top then get help quickly as the problem will not go away and you and your wife work as a team. Doing nothing eats into your assets? the problem still stays there. Banks are leeches.
• Have what you need and try to save. Kiwi saver is a good option for those who want to start saving and with Term deposits with Banks work out the interest rates and when you get capital payments back if youre actually making what you should.. [ Why hate Banks ]

The Reserve Bank of New Zealand should stop raising interest rates which will impact more on home mortgage floating loans..

With the EU still fighting the Euro even Australia stock market has dropped.

[ Banks- get rid of Visa cards ] [ Failed Finance Companies July 2010 ] [ Finance Report 2010 ] [ Property Report May 2010 ] [ Buying Mortgagee Property Tips ] [ Kiwisaver good or bad Providers ] [ Bank Lending Report 2010 ] [ George Soros Mortgage answers March 2010 ]

WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] The issues are economics nothing else and many a time the owner is blamed for moving when in fact he has no say in the matter otherwise he will go bust. However read the reasons why NZ has lost the plot ---[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense.[ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ] [ Transmission Gully Impact costs ] [ Kiwi Family Savings Plan ] [ Benefit cuts good or meaningless ] [ Quit smoking-heres how ] [ Levin Business dying ] [ NZders lose out ] [ World population exploding ]

" Invest in finance companies--- crazy--- they can do what they like with your $$$$ "

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