What happened Tuesday

Economy / news

A review of things you need to know before you sign off on Tuesday; BNZ trims TD rates, business sentiment jumps, fewer Auckland dwelling built, home ownership better, grocery price rises tamer, swaps stable, NZD rises, & more

[updated]

14th Jan 25, 3:59pm by David Chaston

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE/LOAN RATE CHANGES
No changes to report today. All rates are here.

TERM DEPOSIT/SAVINGS RATE CHANGES
BNZ has trimmed some short term deposit rates. See this review. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

ON THE UPSIDE NOW?
Business sentiment has risen to its highest level since 2021 despite weak demand in the Christmas quarter. The NZIER business survey has turned positive for first time in almost four years.

STILL DOWN, & MORE SLUGGISH
But in Auckland, residential building activity is increasingly sluggish, with fewer homes are being built and they are taking longer on average to be completed.

BETTER THAN PREVIOUSLY THOUGHT
StatsNZ released its updated national dwelling tenure estimates today, the first time they have revised these since the 2023 Census. And that showed that there were [slightly] more owner-occupied dwellings and [slightly] less rented dwellings. The home ownership level is now 66.8% and back to levels first reached in 2005. In between, home ownership fell to as low as 64.5% in 2017. Perhaps a small downside is that the December level is down from 67.5% which was its recent peak in early 2023. More here.

GROCERY PRICE PRESSURE NOW TAME
We get our first indication of December inflation Thursday morning with the Selected Price Indexes, basically food prices. And the full December CPI is due out Wednesday week. However today, Infometrics released its Foodstuffs index of grocery costs for December, and those were up +2.2% from a year ago. The pace of supplier cost increases was up slightly, but not materially. A year ago these increases were running at a +4.5% rate.

EYES ON MILK POWDER PRICES
Meanwhile it will be worth keeping an eye on tomorrow morning's dairy Pulse auction for WMP and SMP. The NZX futures market is suggesting that the small GDT fall last week will get extended tomorrow (-1.5%). But the small SMP rise at the last full GDT auction will get a boost (+3.5%). We will know soon enough as we will update this change with the actual results in tomorrow morning's briefing.

STILL IN AN END OF YEAR HOLE
After slipping in December, the Westpac consumer sentiment survey for Australia slipped again in January. Homeowners and renters got more pessimistic about current conditions. But they are better than year-ago levels. And their forward looking views are positive.

ZOMBIE STAGGER
A sidebar update for once highflying Evergrande Property development company; A PRC court has ruled it must make payments it hasn't the resources to make. And a Hong Kong court has ordered its liquidation. The next saga will be the legal proceedings against its auditor PwC by the liquidator.

RAMPING UP FOR CHINESE NEW YEAR
In China we should note that today is the start of their enormous internal migration. January 14 is the kickoff of their Spring Festival travel rush, as workers begin to head home for the long vacation over the Lunar New Year. The Golden Week holiday around this event formally starts on January 28 and runs until February 4.

SWAP RATES HOLD
Wholesale swap rates rose in a way that we should keep an eye on. ~~are probably little-changed again today at the short end~~. Our chart below will record the final positions. The 90 day bank bill rate was down -3 bps on Monday at 4.09%. The Australian 10 year bond yield is down -2 bps at 4.68% after yesterday's sharp run-up. The China 10 year bond rate has risen another +2 bps to just on 1.66%. The NZ Government 10 year bond rate is up +10 bps at 4.87% while today's RBNZ fix was 4.75% and up +5 bps. The UST 10yr yield is now just on 4.77% and unchanged from yesterday. Their 2yr is also unchanged at just on 4.38%, so that positive curve has held at +39 bps.

EQUITIES IN RETREAT
The NZX50 has risen +0.3% in late trade today. And the ASX200 is up +0.2% in afternoon trade. However, Tokyo has opened its Tuesday trade down -1.3%. Hong Kong is up +0.8% and Shanghai is up +0.9%. Singapore is down -0.2% at its open. Wall Street ended its Monday session up a minor +0.2% on the S&P500 in Monday trade..

OIL MOVES LITTLE
The oil price is up +50 USc from yesterday, now just over US$78.50/bbl in the US, and still just on US$81/bbl for the international Brent price.

CARBON PRICE RISES
The carbon price has risen today by +$1.35 to NZ$63.35/NZU and a five week high. See our new daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint. And we should probably note that the EU carbon price is now at €74.85 (NZ$137.60) and back near its highest since May 2024.

GOLD SOFTER
In early Asian trade, gold is down -US$20 from this time yesterday, now at US$2668/oz.

NZD FIRMS
The Kiwi dollar is up +40 bps from this morning, now at 56.1 USc. Against the Aussie we are up +20 bps at 90.6 AUc. And against the euro we are up +30 bps at 54.7 euro cents. This all means the TWI-5 is now just on 67.1 and up +40 bps from where we were this time yesterday.

BITCOIN UP MARGINALLY
The bitcoin price has inched up to US$94,816 and up +0.6% from where we were this time yesterday. Volatility of the past 24 hours has been high at just on +/- 3.0%.

Daily exchange rates

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Source: RBNZ

Source: CoinDesk

Daily swap rates

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Source: NZFMA

This soil moisture chart is animated here.

Keep abreast of upcoming events by following our Economic Calendar here ».

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80 Comments

by IT GUY | 14th Jan 25, 4:08pm 1736824096

What will kickstart building activity in Auckland again?

and what's killing it? too much risk for developers, too expensive to buy land or build costs?

by kraken | 14th Jan 25, 5:48pm 1736830139

Lower land prices. Don Brash has the solution:

https://www.nzherald.co.nz/nz/don-brash-council-driven-land-prices-hurt…

by HouseMouse | 14th Jan 25, 4:22pm 1736824932

Yes and no

higher density development tends to rely on higher land prices and an inflating property market

build costs are a big factor. And interest rates

Both need to fall back

And house prices need to start rising again

by Jonny.Foe | 14th Jan 25, 4:39pm 1736825944

I have given up arguing about this with people at work. They're always like 'bbbbbut upzoning, look it worked'. Yes, it did, but only because you had cheap credit, rising land and house values, real wage increases, and confidence that all of the above would continue for a few years. The market only builds just enough houses when the stars align.

by HouseMouse | 14th Jan 25, 4:50pm 1736826630

Exactly

Upzoning is necessary, but not sufficient

by HouseMouse | 14th Jan 25, 5:07pm 1736827677

You would be amazed how many government policy wonks and economists don’t understand this

by ChrisOfNoFame | 14th Jan 25, 5:20pm 1736828447

And yet this time - you ignore all the work that "government policy wonks and economists" put into successfully changing our absurd zoning rules that only served to dramatically increase dwelling prices? ... Some consistency is appropriate, HM. You've been exceptionally good when your remarks are well considered. I feel that one was a FB response?

by HouseMouse | 14th Jan 25, 5:33pm 1736829208

Those things were good

yet I know many who simplistically think upzoning is the silver bullet

it isn’t

by ChrisOfNoFame | 14th Jan 25, 6:18pm 1736831917

Is up-zoning far better than pre-2016 NIMBY'ism?

And, might I suggest, do you think you may seeking perfection with your critisism? Let's never forget that perfection is the enemy of progress.

by HouseMouse | 14th Jan 25, 6:35pm 1736832903

Of course it’s much better. I never said it isn’t. I have been an advocate for density for more than 20 years.

But it ain’t gonna solve affordability. Not even close. Like I said, necessary but not sufficient.

by ChrisOfNoFame | 14th Jan 25, 5:12pm 1736827938

Made me chuckle, Jfoe.

" The market only builds just enough houses when the stars align. "

Two questions:

1. How do you explain the massive overbuild in the 70s and recently? (Rhetorical question obviously: we need only look to the f'ck up that counts for sage 'monetary policy' in NZ as delivered by our RBNZ.)

2. Why would you expect the 'market' do anything else? If there's no demonstrable demand, the market doesn't do jack. To do otherwise is speculation (see 1 above). Only sensible governments look forward far. Private money only enters for the 'quick buck'.

(But then I expect you already know this. I'm posting for others that may not.)

by Jonny.Foe | 14th Jan 25, 6:03pm 1736831005

I'm not saying that tax settings, policies, monetary policy, govt spending and incentives etc etc couldn't be changed to encourage the market to overbuild, just that under the current settings, the stars have to align!

by ChrisOfNoFame | 14th Jan 25, 6:17pm 1736831864

Why would you ever want to "encourage the market to overbuild"?

Surely having sane, and measured, a) monetary policy (RBNZ) and b) fiscal policy (government) would be enough?

by profile | 14th Jan 25, 7:21pm 1736835696

"Why would you ever want to "encourage the market to overbuild"?"

Low house prices help people who live in cars, need employment location flexibility and/or want to have a family. Density/stupid house prices kill procreation - a torpedo below water line for the pension system. Grey beards reaping what they sowed.

by ChrisOfNoFame | 14th Jan 25, 5:26pm 1736828768

HouseMouse : "And house prices need to start rising again"

Do they? Or do wages and salaries just need to catch up to flatlining dwelling prices?

Methinks the later would be best for NZ.

Your opinion appreciated.

by HouseMouse | 14th Jan 25, 5:36pm 1736829368

I agree that would be best for NZ

but…. Will it happen? I am not so sure

by ChrisOfNoFame | 14th Jan 25, 6:10pm 1736831448

HM: "but…. Will it happen? I am not so sure"

In NZ, that depends on how you and others vote.

(In other countries, e.g. USA, it doesn't matter how they vote. The outcome remains the same. NZ's collapse could precede the USA's. Seems extreme to say so. But hey, you read it here first.)

by Pa1nter | 14th Jan 25, 10:58pm 1736848707

but…. Will it happen? I am not so sure

Is seems more unlikely than likely, so not sure why someone would spend much more than a fleeting second contemplating it.

by ChrisOfNoFame | 14th Jan 25, 4:34pm 1736825687

Not Auckland Council - that's for sure !!!

They asked me to sign an agreement for a Deemed Permitted Activity. It contains the clauses:

A fee will be charged on application of this application
Additional charges for processing, administration and inspections need to be paid
etc.....

Now lets be clear, these f'ckers have the Building Consent plans in front of them. Why not provide a price? This Building Consent application is about as simple as they get.

There is NO way I'm signing such a b.s. opened ended agreement that allows any wally desk jockey at Council to pad their time sheets.

And I suspect it is against the law for Council to present such a demand for something so straightforward WITHOUT A PRICE.

by Uninterested | 14th Jan 25, 4:56pm 1736826962

Pretty common practice for various Council depts +AT + Watercare.

They have you over a barrel. And you pay for a lot of duplication.

by ChrisOfNoFame | 14th Jan 25, 5:29pm 1736828980

This is the first "Deemed Permitted Activity" I've ever applied for.

Monopolies !!! They disgust me.

And let's be honest ... Our Councils are outright MONOPOLIES !!!

by Pa1nter | 14th Jan 25, 11:04pm 1736849080

Why not provide a price?

Because their exposure to a cost over-run isn't worth your piece of mind to them.

And I suspect it is against the law for Council to present such a demand for something so straightforward WITHOUT A PRICE.

They can potentially be demanded to present you with their rates and an guestimate, but I don't think there's a legal requirement for any entity to provide you with a fixed price for something you want carried out.

The alternative is a really high fixed price with plenty of overhead for contingencies.

by Foxglove. | 14th Jan 25, 5:04pm 1736827489

Of the abovementioned rise in percentage of owner occupied dwellings is there any breakdown as to how many of those are unencumbered, mortgage free?

by Blackdog | 14th Jan 25, 6:02pm 1736830972

Demand. Be interested to see some population stats.

by ChrisOfNoFame | 14th Jan 25, 4:36pm 1736825766

Why petrol prices could soon top $3 a litre.

Funny that. Like I've said for ages ... And as I said at the time: can't tell you when exactly, but it would be inevitable.

(The NZD will claw back over the next few years, but not to where it was. We're poorer. You voted for this. Get over it.)

by kiwikidsnz | 14th Jan 25, 4:35pm 1736825725

Depends on who you mean by "we". Not everyone will be poorer: for eg those whose productive exports are paying for everyones imports will be better off.

"Beef and Lamb Alliance Group global sales director James McWilliam said it was positive news for exporters after two very long and challenging years for the industry.

"What this means for the industry is the red meat sector returns about nine to 10 billion (dollars) to the New Zealand economy on an annualised basis and about 90-95 percent of that is exported."

The US was one of the largest the New Zealand market traded into, he said."

https://www.rnz.co.nz/news/business/538897/more-pain-at-the-petrol-pump…

by ChrisOfNoFame | 14th Jan 25, 4:38pm 1736825909

Your response is a classic example of why NZ Inc. keeps getting poorer ... While a few - a declining few - get richer.

by kiwikidsnz | 14th Jan 25, 6:52pm 1736833926

Funny, I was thinking the same of your comment.

There is no free lunch.

by J.C. | 14th Jan 25, 5:20pm 1736828421

"Beef and Lamb Alliance Group global sales director James McWilliam said it was positive news for exporters after two very long and challenging years for the industry.

Silver Firms Farms went into the US with the 'Net Zero by Nature' climate-washing campaign for its 100% grass-fed beef products. This initiative aims to produce carbon-neutral meat by utilizing natural carbon sequestration on the farms where the animals are raised. OK.

Happy, shiny, eco-lovin' Aotearoa.

But are Americans so naive and do they buy into this kind of 'woke' marketing? Serious questions to explore. And based on SFF's financial performance, probably not.

by Foxglove. | 14th Jan 25, 6:50pm 1736833839

Sharp comments JC & regrettably on the mark. Reminiscent of the Steinlager ads years ago. An eighteen wheeler in the middle of the mid west or similar, emblazoned with “STEINLAGER” and under the caption of “They Are Drinking Our Beer Here.” As Gareth Morgan said. “Who gives a toss.” NZ too often is inclined to get above the reality of its station. A great percentage of consumers in the USA have never heard of us. It’s a hard sell and holier than thou marketing is hardly beneficial.

by Hans Brink | 14th Jan 25, 11:24pm 1736850249

Marketing is an interesting thing. Finding the right narrative to your product is usually where one starts. In the present situation SSF are pretty much on to it. As far as financial performance goes well take a look back at all meat processing companies. Not much there to look at that would inspire. Obviously there are the global giants but they are in another league.

by IT GUY | 14th Jan 25, 6:16pm 1736831778

So glad I got my heifers, going to just breed my own meat from here on in.

by tis i | 14th Jan 25, 6:24pm 1736832258

Preweaned at $50 a pop from local dairy farmer.

Fkd if I’m paying $7-800 each anymore.

by IT GUY | 14th Jan 25, 6:32pm 1736832760

Well you go through a milt of milk powder and Moozlee (very cool name for a product) and you need to be setup but yes that's an option, you can find for less then $500 but as I say you spend it anyway... if you have the grass IMHO later is easier and less hassle.

My mate found a few for $300 each but I had to drop another $150 on each to get them to grass only. They will be great beef though

by tis i | 14th Jan 25, 6:37pm 1736833033

I haven’t the area for breeding. Milk replacement worked out at $200 each plus a bit of time but nowhere near as bad as some make it out to be. Now on grass only and $250 a head. Gunna be tasty.

by Hans Brink | 14th Jan 25, 11:00pm 1736848853

Yeah seems all so very easy to rear calves does it not. The reality is there are so many things that can go wrong, bloat from milk powder is just one. Alright so you just want a couple or so for one self, that usually works out. But try 50 or more. And there are some who do hundreds, there are always losses and the profits are slim.

by David7 | 14th Jan 25, 4:56pm 1736827002

" Prediction is very difficult, especially if it's about the future". Niels Bohr, Nobel laureate in Physics.

by linklater01 | 14th Jan 25, 5:21pm 1736828510

David7,

And I thought it was Yogi Berra. How disappointing

by IT GUY | 14th Jan 25, 6:20pm 1736832058

"A nickel ain't worth a dime anymore."

I can recall 5c bags of sweats, now $1.90 or 3 for $5.00

by kiwikidsnz | 14th Jan 25, 6:34pm 1736832855

I can recall a shillings worth of fish and chips in the 1960s (12p=10c however decimalisation 1967 price doubled to 20c), my primary school class occasionally placed individual orders for each pupil

by IT GUY | 14th Jan 25, 6:38pm 1736833115

Yeah at primary school we could get a fish and chip on a Friday for bugger all.... so not woke back then.

Not many fatties either.

by tis i | 14th Jan 25, 6:49pm 1736833769

Cooked in lard too.

by IT GUY | 14th Jan 25, 7:24pm 1736835863

we called them greasies not fish and chips

in yesterdays newsprint with a single plain wrap and already soaked with lard ...

by Foxglove. | 14th Jan 25, 7:43pm 1736836996

Often, too often, the fat was over used in fish and chip shops and produced an odour redolent of livestock yards. Call it dripping, lard, tallow or whatever, it happened. Always remember a cartoon in the old Daily Mail (delivered in batches out here, known colloquially as The Yellow Peril.) Husband greeting very over sized mother in law knocking at the door, outside in the rain pelting down. “Oh mother in law, you are not fat, you are dripping.” Every ones a gem!

by Zwifter | 14th Jan 25, 8:13pm 1736838794

There were no fatties because we cycled to school, then we ran about the sports field for a whole hour at lunch and then cycled home again. Probably 2 hours a day minimum exercise plus sport during the weekend, sports training after school on top of that. No cell phones, no devices. The college owned like 6 Apple IIe computers total.

by tis i | 14th Jan 25, 8:27pm 1736839673

Gee you’re flash as. We got ZX81s

by Foxglove. | 14th Jan 25, 8:48pm 1736840887

Yep footy before school, the lunch hour& after school. Teams picked in order of the arrivals., We had great underweight teams by grade. Some of us played senior and one of us got to play for Canterbury. You had to be fit to compete, otherwise you suffered. Never lost the application.

by ChrisOfNoFame | 14th Jan 25, 8:57pm 1736841460

"The college owned like 6 Apple IIe computers total."

Lucky you. My college owned none.

Thankfully, we had a cool teacher who helped us build our own using bespoke kit utilising a discount on bulk ordered parts. We donated to the school when we were done.

tis i: "We got ZX81s" Yup. Used my paper round money to buy a 2nd hand one. The 16kb ram plugins were absolutely required to do much with them.

by Zwifter | 14th Jan 25, 11:42pm 1736851337

It was the top college on the North Shore. Had a friend who owned a Sinclair all we used it for was to play games loaded from a tape deck, the college machines we learned to program Logo on them and also play illegal games on after hours. Good times.

by peter.may | 15th Jan 25, 9:36am 1736887013

A shillingsworth of fish & chips was a favourite ( & rare) treat !

by Pa1nter | 14th Jan 25, 11:07pm 1736849274

Funny that. Like I've said for ages ... And as I said at the time: can't tell you when exactly, but it would be inevitable.

A prediction that almost no one would disagree with.

Eventually, a McDonalds Cheeseburger will be $20. You heard it here first kids, don't say I didn't warn you.

by ChrisOfNoFame | 14th Jan 25, 5:00pm 1736827250

This could become interesting ...

‘We’ve got foreign interference laws’: Australian PM asks Elon Musk to stay away

By warning the billionaires in advance, they gain the ground to penalise them ... before the election.

by J.C. | 14th Jan 25, 6:42pm 1736833368

So China just became the first country in history to record a trade surplus of USD1 trillion.

Closer to home, was privy to data re this that is not so good. In terms of trade volume with each country, Aussie and Germany exports to China were the worst - both down approx 10% yoy. Probably not a great indicator of Aussie commodity export strength and likely has some impact on the domestic economy.

Winners of trade with China were Vietnam, Malaysia, Taiwan, and South Korea.

by ChrisOfNoFame | 14th Jan 25, 5:34pm 1736829245

Source?

Sorry J.C. You're pretty loose with these statements. E.g. What is 'trade volume' according to you? Without a source, forgive me if I ignore this one.

by J.C. | 14th Jan 25, 5:47pm 1736830053

Sure. Please ignore.

"Trade vol" is based on aggregate import / export data compiled from General Admin of Customs China and Haver Analytics.

by ChrisOfNoFame | 14th Jan 25, 6:21pm 1736832075

Once again: Source?

by J.C. | 14th Jan 25, 6:42pm 1736833343

Source is not available via a public link. Available to me via a proprietary platform. Not everything is freely available. Nevertheless, the data sources I referenced are likely to be available if you're prepared to search for it.

Anyway, exports to China from Aussie down 10% yoy. Imports to Aussie from China down 4.2%. Combined vol down 8.1%. Original post perhaps a little misleading.

by ChrisOfNoFame | 14th Jan 25, 6:59pm 1736834351

Noted. Will diarize it for a month from now. Hope you're not wasting my time. Some of your posts make me look harder.

by Zwifter | 14th Jan 25, 7:16pm 1736835369

China is pumping, the West continues to try and shut them down and all the West does is pump out a negative PR campaign. The Trump reign of the next 4 years will be interesting, during this time China will go past the USA in terms of trade. The timing couldn't be worse, Trump is the worlds worst poor loser.

by J.C. | 14th Jan 25, 7:23pm 1736835795

China's largest export market is now ASEAN - 2x+ value compared to US.

by Hans Brink | 14th Jan 25, 11:39pm 1736851172

Just read Bloomberg Chris just read it myself this morning. China surplus close to one trillion US$ so what.

by J.C. | 14th Jan 25, 5:30pm 1736829016

Just for comparative purposes for the Aotearoa Ponzi, check out what's going on in Toronto. Their proposed 2025 budget includes a 6.9 per cent property tax hike. But let's give this a little perspective. This is on top off the following:

2023 property tax hike: 7%

2024 property tax hike:9.5%

2025 proposed property tax hike: 6.9%

That means the equivalent of a 24% increase since 2023.

Who's better off: Toronto-ites or Aotearoans?

https://www.thestar.com/news/gta/mayor-olivia-chow-launches-2025-toront…

by ChrisOfNoFame | 14th Jan 25, 6:28pm 1736832537

"Who's better off: Toronto-ites or Aotearoans?"

Isn't this more like comparing Torontonians (yes, that's the correct demonym) to Aucklanders?

Do better J.C.

by powerdownkiwi | 14th Jan 25, 5:42pm 1736829759

Don't bother too much linking a source.

Having asked, he runs a mile and hides. Then asks you to precis it for him. Which he won't read. Then accuses you of being ignorant.

But seems to claim the right to pontificate...

by J.C. | 14th Jan 25, 5:52pm 1736830367

Actually the 2023 property tax hike was only 5.5%. But when including both the base property tax increase and the City Building Fund levy, it was 7%.

by IT GUY | 14th Jan 25, 6:33pm 1736832806

sounds just like an ACC rate bill?

by ChrisOfNoFame | 14th Jan 25, 6:27pm 1736832426

Having asked, he runs a mile and hides. Then asks you to precis it for him. Which he won't read. Then accuses you of being ignorant.

But seems to claim the right to pontificate...

I had to read that again ...

... and again ...

But yes. PDK wrote it.

And PDK is a person that posts neo-religious content about global warming and NEVER summarizes as anything else except to say ....

... Prepare for the Rapture ....

by tis i | 14th Jan 25, 6:28pm 1736832536

You seem quite angry lately Chris. Would you like a hug?

by ChrisOfNoFame | 14th Jan 25, 6:54pm 1736834049

Nah.

All good.

PDK needs a hug - the Rapture has him in a funk.

K.W. and some others need hugs to encourage them out of their FB/SM bubbles.

Me? No hugs required. Fighting B.S. has been my career. And still is. (You have no idea!)

I couldn't much care about the fools that post here.

But some are learning. A precious few. And this makes me hopeful. And happy.

And a very few are absolute gems.

The great articles (free of billionaire influence!), and the gem posters, are the reasons for being here.

And if my caustic comments make people think - maybe that's good too.

by tis i | 14th Jan 25, 8:25pm 1736839555

I was trying to find something witty to reply with but that didn’t happen. These internet things are all about the witty replies apparently so this does my image no good at all.

Aaaannnyway…. This beers good.

by Pa1nter | 15th Jan 25, 4:23am 1736868196

Fighting B.S. has been my career. And still is. (You have no idea!)

So your job, which pays you hundreds of dollars an hour, and allows you to afford to own multiple rental properties, involves dealing with BS?

I'm getting a pretty good idea.

And if my caustic comments make people think - maybe that's good too.

If that were actually something you genuinely valued, you'd find a way to communicate, without having to be caustic. Instead it's caustic first, insight second.

by IT GUY | 14th Jan 25, 6:34pm 1736832890

Try a smoke or an edible and watch the sunset...... medicinal purpose on script of course

by ChrisOfNoFame | 14th Jan 25, 6:48pm 1736833725

Awesomely witty ad hominem... Did you copy and paste that from X?

No? I suspect not. You're probably still on FB.

(And you clearly don't know how to copy and paste without leaving a massive trail of CRLFs!)

by IT GUY | 14th Jan 25, 7:42pm 1736836940

No I typed it myself. You are very aggressive tonight, are you self medicating?

by ChrisOfNoFame | 14th Jan 25, 9:06pm 1736841969

And you left off the numerous CRLFs !!! Progress? Awesome. We'll take it.

by Pa1nter | 14th Jan 25, 11:25pm 1736850315

Awesomely witty ad hominem

Advice isn't an ad hominem. If you're smelling so much shit everywhere, it's probably on your foot. You could really do with some external assistance, to give you some other perspective or mindstate than the one you're lost in. Some people do this from their own volition, some have it happen by accident, others need extra nudging.

Not sure what all the FB taunts are about either, as if one form of social media isn't as divorced from reality as another.

by J.C. | 14th Jan 25, 6:34pm 1736832848

Interesting story from Sydney. Someone bought land with the equivalent size of 25 football fields above Northern Beaches for a paltry $2m. Sold to a mystery buyer.

Like buying Bitcoin at <USD5K perhaps? Methinks it's more related to the Game of Mates.

What’s the scam? The agent described it as ‘affordable’, which is something of an understatement as the views stretch from the golf course on Long Reef headland down to Manly. The photo is a bit misleading though, as much of the land, formerly owned by NSW Aboriginal Land Council, is on the steep hill above Brookvale oval.

https://michaelwest.com.au/big-sydney-beach-view-plot-sells-for-two-mil…

by J.C. | 14th Jan 25, 7:33pm 1736836391

Quote of the year so far comes from Jack Mallers on Jamie Dimon's latest attack on the ol' rat poison.

"What do I think about Jeffrey Epstein's banker being concerned that a distributed decentralized open public money could be used for bad things sitting on a ski resort in Davos? I don't really care. I don't know why anyone cares."

by IT GUY | 14th Jan 25, 7:44pm 1736837098

Gold and BTC are very deflationary to a banks balance sheet as clients move cash to those assets.

No economist at an NZ bank is ever going to tell you to sell a rental, or buy Gold or BTC.

You have to work it out yourself.

by Baywatch | 14th Jan 25, 11:02pm 1736848940

What's rat poison?