Chris
@chrismurraybsky.bsky.social did:plc:eo4li66xcp5xkvsfpy5puwgx
Facts goddamit, I want the facts..... Your opinion, will be listened to, but generally speaking is irrelevant (unless you think I'm a hotty)
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Chris (@chrismurraybsky.bsky.social) ist seit 17 Oktober 2024 auf Bluesky. Das Konto hat 486 Follower, folgt 205 Konten und hat 1.371 Posts veröffentlicht.
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We hear about Govt deficits every day during election time. Here's the rarely mentioned deficit that matters much more to households and the economy. Persistent household deficits over last 30 years in NZ have been second only to Greece. Let's have a look thru the others. [🧵1/n]
Post anzeigenNote that despite persistent deficits with the world, and a voracious appetite for private debt, our net saving as a country is positive. We have built wealth. How? At the macro level we have used cheap debt (govt & private) to invest in offshore shares that have boomed. What could go wrong? [Ends]
Post anzeigenHoly shit.
Post anzeigenI tell you what makes forecasting difficult... ignoring the leading indicators that matter, believing the often 100% wrong models in economic textbooks, relying on vibe surveys, and having blind faith in the business cycle (it's gone down so it will come up)
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