WATCH OUT
The NZ Herald today reports our Treasury feeling the “recession may be over”.
They feel unemployment is not likely to reach previously expected heights (8%) and bases its upbeat predictions on “the international recovery, positive migration figures, rising business and consumer confidence and an improving housing market”.
For us at City Sales, July, a mid-winter holiday month is typically budgeted as a significant loss month but it was big time the opposite this year - and August was huge.
Why am I feeling nervous?
After the 1987 share market world crash we suffered in New Zealand for four years before we began to emerge from a real depression.
The “recession may be over” after the world banking systems collapsed, what, 18 months ago???!!!!!
We’re as positive as a South African rugby coach but if you’re up to your neck in debt, the boss looks worried ALL of the time and strangers in suits keep coming to the office don’t rely on headlines to help you sleep.
Call us – we are in a fragile economy and we have been through it all.
There is currently an abundance of competent buyers out there but if you’re in any way in a precarious position don’t be seduced that all of a sudden a world-wide financial collapse has just evaporated into the ether.
We’ll tell you when it’s not scary.
But right now you need to call us.
Or show this to your wife and she will.
Because women are smarter.
Martin
MANAGING DIRECTOR
