A lighthearted look at business and finance in New Zealand, largely through the eyes of the cartoonists of the Manawatu Standard and The Dominion Post. - Alan Ireland, journalist at the Standard from 1972 to 2011.
"No experience needed — your account is managed for you. No investment required — your account starts at $100."
That's the sales pitch from prelaunchx. Sounds too good to be true. But for the time being, I'm giving them the benefit of the doubt. As far as I can see at this stage, one has nothing to lose by signing up. I'll report on any interesting developments.
Remember how the free market was going to bring unprecedented prosperity to everyone? Remember how they told us — and are still telling us, in some circles — that there was/is no alternative to unfettered capitalism? Are we mad enough to continue on our present course? Yes, probably.
The cartoon is from the Manawatu Standard of May 18, 2012.
Although I feel sorry for those who lost their savings in the financial crisis, I think that, to some extent, they are the authors of their own misfortune. They didn't have to put all their money into high-risk investments. They could, and should, have been little less trusting, a little more suspicious of the promises made in prospectuses. As I approached retirement, I put all my money into (a) a retirement scheme that is backed by a government guarantee, and (b) long-term bank deposits. The returns are lower, but the peace of mind is much, much greater. And the latter is what you really want in old age.
The cartoon is from the Manawatu Standard of April 27, 2012.
Retired journalist and financial commentator. Webmaster of kiwidollar.com, a blog that takes a lighthearted look at business and finance in New Zealand. I was born in England in 1940, and have lived in Australia (1960-62), Japan (1962-72) and New Zealand (1972-present).
