Forum Archive Index - July 2001

["Malcolm Cameron" <malharcameron@hotmail.com>]

IAN
To the best of my memory my morgage at the start of the crash period was 10% 
and it was these interest rate rises that caused the crash, mainly the 
american rate rises and at the time i only interested nz rates. some of the 
sharkey lenders were offering as high as 28% to depositers and lending to 
some of these high flyers to try and keep them affloat because of decisions 
taken in time of lower interest rates,& rampant inflation.If the NZ govt had 
relaxed the money supply as the americans did we may have been a lot better 
off today.But panic selling to raise cash just kept compounding
Malcolm Cameron


>From: "Ian Andrews" <iandrews@ihug.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: Re: Re: Re: [sharechat] Re: Goodall and heroic... interest rates
>Date: Sun, 1 Jul 2001 13:42:50 +1200
>
>It's always a vexed question as to what factors make a country wealthy;
>although I will vouch that some consultants have become wealthy telling
>small countries what they believe those factors are.
>
>Malcolm, I think you may profit from examining the Reserve Bank's interest
>rate history at www.rbnz.govt.nz
>You say "when you borrow at 16% you make sure your sums are correct" . We
>had such rates & higher in New Zealand in  the run up to the sharemarket
>crash of 1987.I wouldn't have thought there were an unusually high number 
>of
>people at that time "getting their sums right".
>
>
>
>
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