BNZ Weekly Overview – Tony Alexander
This will be the last Weekly Overview for 2014.
The next one will appear in late-January. Merry Christmas everyone and have a Happy New Year.
The biggest piece of news in the field of economics this week was the 321,000 rise in employment in the
United States during November. This strong gain was well above expectations of a 220,000 rise and
means jobs growth for the whole year could end up being the best in 13 years. There were also signs of
good improvement in hours worked and wages and this means it is reasonable to have an outlook for good
growth in consumer spending in the coming year and on the back of that enhanced willingness of
businesses to undertake investment – and hire even more people.
Back from the Himalayas….Beas Kund (Manali, India)
After a 3 week holiday in the Himalayas, the highlight of which was a 10 day trek to Beas Kund in Manali, India, I find myself back and rejuvenated.
One might argue that this is a bit irrelevant to our business and yet it cannot be denied that when you return from such a trip, relaxed and replenished with appreciation for our world, it has an immediate impact on our work lives.
So today in attempt to relive the bliss that was Beas Kund I will retell my experience, complete with stunning pictures (of both myself and the scenery ).
While the places you visit fuel the success of your expedition, it is the people that make it unforgettable. Leaving from New Zealand my final month should have been filled with exercise to prepare and yet I found myself continually conjuring up excuses, procrastinating the inevitable pain.
Bitter cold (Temperature -9 dec C ) and overwhelming surroundings combined with my lack of fitness made this trek quite a challenge.When you go on such trips it is a clear case of Mind over matter and such expeditions are 95% mental resolve with the remaining physical fitness. So I was 95% ready!!!
Had I been physically fit then I would have enjoyed the entire expedition even more… But would I do this again given the same situation? Most definitely. Nothing compares to going on a break with your childhood buddies,the nostalgia summoning the child in you again. The laughter, madness, cold, not adjusting to the altitude, still laughing about the miserable state that you are in, words struggle to express how we felt. I encourage each and every one of you to do this every so often in life, you will come back enriched and completely energised. The most important thing was that there was just no technology (No coverage for Cell phones, we could have taken the Sat phones, but hey who needs phones in a place like this). In fact where we were camped and on the entire route, there was no else apart from the 3 of us + 1 helper / guide / kitchen hand. The sound of the gushing river, the blowing wind, the first ray of the sun in the morning, the stars being so close that you feel you can pluck them from the sky….really a super experience.
The summit day required the peaks of my mental resolve and strength to pull through. Both my friends ,being very fit and experienced trekkers, egged me on and after 9 hrs of climbing, slipping, jumping on boulders we got to the top. Our 6.00 pm return saw me almost dead!!! Yet the exhilaration numbed the pain, well, although once I was in the tent nothing could get me out again.
The weather was fabulous for all the 5 days when we were in the terrain (A big thanks to my friend and weather guru, Anand Srinivasan, who gave us detailed reports on the weather for all 6 days). The snow came in on the very day that we came down so it was brilliant timing.
I can go on and on about this but I will let the pictures attached do the talking.
I encourage everyone to do this at least once in their life time. We all love the spas, luxury hotels, travelling business class and eating the best of cuisine. Try this for once which is at the extreme opposite end, I guarantee you once will never be enough.
LVR restrictions to remain: RBNZ
At least 4500 New Zealanders hoping for an end to loan to value restrictions will now have to wait longer before they can buy a place, a financier has calculated.
The Reserve Bank today announced loan to value ratios would continue in an attempt to quell rapid house price inflation and mortgage specialist Bruce Patten of LoanMarket calculated at least 4500 New Zealanders who were poised to buy when the LVRs come off would have been left disappointed by today’s announcement.
With about $40 billion of mortgage lending annually throughout New Zealand, Patten said first-home buyers who needed more than an 80 per cent mortgage had been borrowing about $13 billion before October last year when the LVR regime was ushered in.