Mike's Minute: NZ is better than we think

A friend of ours opened a new business last week. 

It was a soft opening and will be full steam ahead by the school holidays. 

So far he is going gangbusters. There's a lot of local support and it looks like a good news story. 

He is however, if you believe the headlines that have been supplied by his industry association, in very dark and difficult days. 

They don’t look difficult at his place. 

The GDP figures came out as we were away on the long weekend - up 0.8% for Q1. 

The Reserve Bank thought it would be 0.4%. Most banks thought it would be 0.7%. The reality was better than everyone thought. 

Nick Tuffley, the ASB's head man on economics, also on Thursday told us he still had growth in the second quarter just gone, April, May and June. He had us 0.3-0.4% up. 

Other commentary last week from manufacturing and services said we had hit a brick wall. If Nick is right there is no brick wall, the same way Q1 was not 0.4%, it was 0.8%. 

The point is this: is it possible we are in such a funk we don’t want to see reality? 

You know what else I read? Australia, the repository of so many disillusioned New Zealanders, is now losing more people than it has since Covid. A mass exodus is on. 

People are bailing out of Australia, healthcare is chronically bad, you can't get seen, the Government is sinking in debt, house prices have spiked past an average of a million everywhere, there are more people than ever since records began and people are working multiple jobs just to make ends meet. 

This is Australia, the golden answer for the miserable Kiwi looking for better. 

Maybe better is here? Maybe in a turbulent, troubled world the Land of the Long White Cloud is actually coming right and people like our mate and his new business sees it. 

And a lot of what's in front of us is attitude. Is there trouble in some areas? Yes. 

Are there issues still unresolved? Yes. 

But do we have growth and prospect? Yes. 

Do the numbers back that up? Indeed they do! 

Maybe the grass is in fact nice and just as green here. You just got to want to see it.     

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Episode Transcript

Speaker 1 (00:00):
Friend of ours opened a new business last week, soft opening,
full steam ahead by the score holidays. He tells us,
so far he's going gangbusters. A lot of local support.
Looks a good news story to my eye. He is. However,
if you believe the headlines, the headlines that have been
supplied by his industry association in very dark and difficult days,
they don't look difficult at his place. I can tell

(00:20):
you that for nothing. The GDP figures came out as
we're away for the long weekend. Of course you missed
that zero point eight for Q one. Reserve Bank thought
it would be zero point four. Most banks thought it
would be zero point seven. The reality was better than
everybody thought. Nick Toughly, asb's headman on economics, he was
also on the show Thursday, told us he still had
growth for the second quarter April May June, so just gone.

(00:44):
He edited at zero point three zero point four. So
other commentary last week, though from the Manufacturing and Services
said Wo'd hit a brick wall. If Nick is right,
there's no brick wall. The same way. Q one was
not zero point four, it was zero point eight. The
point is this, is it possible we're in such a funk.
We don't want to see reality. You know what else
I read? Australia, the repository of so many disillusion New

(01:06):
Zealanders is now losing more people than it has since COVID.
A mass exodus is on in Australia. What people are
bailing out of Australia healthcare is crike. You can't get seen.
Government's sinking in debt. House prices have spiked past an
average of a million dollars everywhere. More people than ever
since records began are working multiple jobs just to make ends.

(01:28):
Make This is Australia, the golden answer for the miserable
key were looking for better. Maybe better is here. Maybe
in a turbulent, troubled world, the land of the long
white cloud is actually coming right, And people like our
mate and his new business sees it. And a lot
of what's in front of us is attitude. Is there
trouble in some areas well? Of course there is? Are
their issues still unresolval, of course? But do we have

(01:49):
growth and prospect? Yes we do. Do the numbers back
that up? And do they do? Maybe the grass is
in fact nice and just as green. You just gotta
want to see it. For more from the microsk Breakfast,
listen live to News Talk Set B from six am weekdays,
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