I regularly see so-called ‘financial gurus’ making statements about the NZ economy and the threat of the high NZ$ to our exports and general economy. They have predicted the NZ$ to rise to giddy heights; some even suggesting that we would hit .90$ against the US$. There are many of these commentators around. We watch them on TV, we hear them ion the radio and various others forms of media making all sorts of dire predictions about the Kiwi dollar.
Minions like myself and no doubt many other sort of ‘believe’ these people and wonder what will happen to our hard earned money and we worry about the flow on effects to our often precarious financial situations.
Today I awake to see that the NZ$ has slumped to almost .80 against the US$. How can this be, when we were heading the other way? Do these clever ‘experts’ not factor into their guesses about where we are headed or is it that they really are just making guesses or worse still---betting!?
I am left wondering who to believe and that any decisions I make about such issues should be based on the colour of the jacket the commentators where, something akin to picking a winning horse because of the pretty riding gear adorning a particular jockey. Damn, there must be thousands of people making a living out of ‘guessing’ the trends in the financial world. At least it doesn’t keep me awake at night. I suppose tomorrow all the trends towards a lower NZ$ could reverse again. Where does that leave ‘us?’ Oh well--- I think it means taking each day as it comes.