The People Are Angry

In the late 1980s (post the 1987 World Sharemarket Crash) and 2010 (post the 2007 Global Financial Crisis) the persona of New Zealanders changed from content and industrious to verging on depression and bewilderment at how our lives could be changed so quickly and painfully.

The events were predictable (says me) and truly serious but we weren’t angry – maybe despondent, but not angry.

It wasn’t the murder of Janak Patel that sparked it (because the people were already very angry) but attending both Vigils at the Rose Cottage Dairy in Sandringham for him and his poor wife struck me deeply at the passion that is seething out there.

I guess it’s almost icing on the cake that the Reserve Bank Governor continues to spiral into madness – after advising us last month that the Reserve Bank is a “learning institution” (help us all) Adrian now proudly announces he is engineering a recession for us.

Did that used to be called “Treason” or “Mutiny” in the good old days??

My message is that this government has been found swimming naked, the tide has run out and change is coming like a freight train.

Christopher Luxon has reiterated the Brightline Tax Test under his watch will revert to 2 years (from 5y and 10y) plus normal tax deductibility for mortgage costs and expenses will also revert to 100%.

Provided you vote, the Minister for Immigration, Michael Wood, who HATES immigrants as much as his Department does will join the three or four other unemployed in the country and National will throw the doors open.

Let’s see…..we’re short on nurses – everyone knows that because everyone loves nurses, but also firemen, vets, signwriters, doctors, fishermen/women, teachers, drivers, ambo staff, police, airline staff, fruit pickers, tradies, Real Estate Agents………..no, not Real Estate Agents phew…….……actually I’m running out of space….

I have never seen such a situation in my lifetime.

The bottom line is the current slowdown was always going to happen but, notwithstanding this, we’ve just paid an unprecedented $100m in tax to the Cindy & Grant Show and Tourism, Private Education and Hospitality are yet to fire/contribute.

There are very good times ahead.

Neither you nor I can pick investment timing precisely but there are still people sleeping in cars and garages (yes Cindy, a lot are children), builders can’t get finance/materials/tradies and the economy is set to boom.

I have also never seen Auckland in such an opportunist time to invest in residential.

I suspect KFC might have stolen this off me but……..”NOW’s GOOD”.

Call me.

Cheers,

Martin