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notices and features - Date published:
5:30 pm, September 5th, 2022 - 5 comments
Categories: Daily review -
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Cats, with their independent spirit and beguiling purrs, have captured the hearts of humans for millennia. In New Zealand, felines are no exception, boasting the highest national cat ownership rate globally [definition cat nz cat foundation]. An estimated 1.134 million pet cats grace Kiwi households, compared to 683,000 dogs ...
The Civil Contractor NZ Auckland dinner tonight has National speakers but no Labour ministers.
Light rail and 3 Waters updates were optimistic.
$30b of work, not enough people to do it.
All funded on high interest bearing debt.
What technology parts of the job will come out of Europe?
Likely most of it for light rail since that's where the lead light rail companies are.
No NZ company could take more than 20% of light rail or second crossing. Risk.
"Light rail and 3 Waters updates were optimistic."
Of course they were…optimism is the primary KPI.
The RBNZ Governor however is warning otherwise….
https://www.interest.co.nz/borrowing/117487/rbnz-governor-says-covid-climate-change-and-war-have-cut-globes-productive
Central bankers were now having to educate markets that rate cuts may not happen for some time.
"There will be a prolonged period where economic demand has to be reduced to below the potential growth rate of the economy, to take the inflation pressures out," he said.
"Earth is now poorer. We've got a sudden realization around climate change, and so we're seeing for any one investment, the returns are different or less. We've got much higher input costs, energy, much higher consumption costs, food. Whilst employment levels have remained where they are, hours of work are declining so we've got less supply capacity. And war does nothing to long term growth potential for a country."
http://bilbo.economicoutlook.net/blog/?p=50365
Review of the Jackson Hole rhetoric and likely decisions.
http://bilbo.economicoutlook.net/blog/?p=48571
Also curtesy of Fed economists, discussion of the serious flaws with the theoretical framework driving such rhetoric and decisions.