Click here for this morning's video.
Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with ASB, including news that on the anniversary of the collapse of Lehman Bros the New Zealand dollar is riding high at 70.7 USc. This is another symptom of our unbalanced economy where we suck in foreign debt to pump into property and damage exporters.
But there is a chink of light on the horizon. Labour leader Phil Goff said over the weekend he may support any National move to bring in a capital gains tax on rental properties, which may give some political cover to National John Key has ruled it out, but Bill English is more sanguine. Have your say here.
Meanwhile Labour is also open to the idea of new ways of running monetary policy and finding other tools to slow property lending and bring down the NZ dollar.
Finally, there are ominous signs of protectionism emerging. The US has imposed a 35% tariff on Chinese tire imports.
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