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Speaker 1: US stock markets had a bit of a panic attack overnight.

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Speaker 1: I think that's the best way to describe it. Investors

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Speaker 1: have been selling off, especially in tech stocks. The US

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Speaker 1: job data that came out on Friday seems to have

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Speaker 1: freaked the horses. Losses are being called back slightly this morning.

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Speaker 1: But everyone is on edge. Why well, it's the largest

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Speaker 1: economy in the world. It affects us all, and we're

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Speaker 1: all sort of teetering on the edge of an economic cliff.

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Speaker 1: It feels like at the moment we're all at the

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Speaker 1: mercy of our central banks and their rate cut decisions.

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Speaker 1: Will they cut, won't they cut? In this case, you've

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Speaker 1: got no cut last week from the Fed, and you've

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Speaker 1: got some bad data, and oh, we're going to recession,

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Speaker 1: and America's going to recession. The US feed obviously didn't cut,

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Speaker 1: and if ours doesn't cut soon, then we'll probably have

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Speaker 1: the same issues here. I imagine Bank of England, the

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Speaker 1: euro Central Bank they have cut. Here's the thing I

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Speaker 1: was thinking about this morning when the cuts happen. You know,

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Speaker 1: we've got a mortgage at my house we're going to

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Speaker 1: be refixing, So when they have I'm not going to

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Speaker 1: be running out and splurging on the credit card. You know,

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Speaker 1: there'll be no new TV or couch at my house.

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Speaker 1: There'll be no new car in the driveway, and I

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Speaker 1: won't be going to fancy restaurants all the time. I

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Speaker 1: won't be going to the clubs and making it rain cash.

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Speaker 1: Just because the rates have cut. This cost of living crisis,

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Speaker 1: coupled with the technical recession that we went through, it's

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Speaker 1: got me feeling a little sensible. If I'm being honest

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Speaker 1: with you, I'm thinking more about saving. I'm thinking more

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Speaker 1: about being strategic investing. You never know when the next

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Speaker 1: government slash, reserve banks splurge might fuel the next big thing.

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Speaker 1: You know, the lockdowns, then the loose purse strings, the

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Speaker 1: prolonged eye interest rates, So you've got to be prepared

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Speaker 1: for stuff. What does that mean for retailers who are

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Speaker 1: falling over to their knees all around us? I think, sadly,

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Speaker 1: things won't suddenly bounce back once Adrian Orr blows his whistle.

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Speaker 1: It'll be a long, hard slog yet. For more from

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Speaker 1: News Talk set B listen live on air or online,

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