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How do I rate?

July 16th, 2009 at 04:10 pm

and now there's a new reason for saving. The rating agency Fitch is looking at downgrading New Zealand's credit rating because our national debt levels are so high. That means higher interest rates on money borrowed overseas. They say increasing household savings will help reduce the current account deficit.

I'll let the economists argue about it. I still reckon it's good for my personal economy.

1 Responses to “How do I rate?”

  1. Linda Says:

    I wish our government was that smart, right now the banks are seeing profits that are surprising considering the fact that 6 months ago they were, or at least said they were going bankrupt. I just wonder how much of that was hype and how much was truth. It seems no one can tell the truth anymore. Perhaps if the government of the U.S. would have said save, save, save, we would have been better off.
    I wish we had more to save, but we don't, so we are putting all our extra money into our home, which is paid for, its not much, but we can make it comfortable. It is nice to have a place that we can go and read, and relax and enjoy it without fear of loosing it.
    We are also thinking of changing to a credit union here instead of a bank, they have a safer situation and better interest, and we could open a savings account that would do better than the bank type does.
    You are a sensible person,laceshawl, too bad more people in the governments round the world aren't.trying to save money, might have saved the economy.

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