“Our big problem would be … if Europe goes, China could slow down, Australia would be very badly affected by the China slowdown and that’s the nightmare scenario for us – a slowdown in China, our second-largest market, a slowdown in Australia, our largest market, a weak United States and we’re in a diabolical position.” John Key, London, 7-6-2012.
“Mr. Colombo is what is known as a bubble-ologist” was Acting Finance minister (Where is Bill English one might wonder) Stephen Joyce’s comment when confronted with the 12 point list predicting a housing/economical bubble bust, which Jesse Colombo published on the Forbes website.
Stephen Joyce based this opinion on his degree in Zoology and the fact that he is part of a Government run by a Wall street banker it seems. What he is not doing is basing his opinion on sound knowledge of the global Financial world and the dire situation it is in because his boss, along with his Wall street bankster buddies, has sold trillions of dollars worth of fraudulent financial products to amongst others the NZ Government, the Cullen fund and the poor farmers who represent one of the few real wealth producing segments of NZ’s economy.
Jesse’s predictions are not new. I wrote about the bubble brewing in April 2012. I wasn’t alone in calling the bubble. In fact an article on the NZ Herald website in 2011 stated that the average home in NZ was 25% overvalued based on an article in the Economist. And the quote above from John Key our Wall street banker made in June 2012 when he was visiting Europe to sign us up to NATO clearly shows that he too was well aware of our risky situation.
I strongly suspect that John Key and Bill English declined to respond on Jesse Colombo’s well supported 12 point list because both of them know very well where this economy is heading.