Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
New Zealand

A musical countdown to the biggest economic impact of 2022

David Boyle: Head of Sales and Marketing at Mint

David Boyle, Head of Sales and Marketing at Mint Asset Management, smashes his summer financial plan…

Mint Asset Management

2022 will be remembered in history as the year that promised much hope after emerging from the Covid fog of the past two years, but turmoil, conflict and change like we haven’t seen in years. Regardless of location or height, it has been a year that has had an impact on kiwis, and I am sure it will be a year that many will happily say goodbye to.

So instead of looking back at 2022 and throwing around economic jargon to predict what will happen in 2023, I thought maybe we could all do something a little more fun together. A perfect playlist for summer.

Get your Spotify app ready to discover the bangers that got us to where we are today. It will probably stay with us for quite some time in 2023.

10. “Working Class Hero” – Marianne Faithful

When the Covid mantle lifted somewhat in early 2022, it became clear that there was a significant gap in the workforce, especially in the retail and hospitality spaces. With little immigration and many of the workers retrained in other fields, there remained a large gap to fill. And it’s not just these two specific industries. For example, Auckland needs 500 more new bus drivers. This is not just a New Zealand issue. As many countries around the world grapple with skills shortages, where have all the workers gone? Retirement? Who knows, but this seems like a long-term problem.

9. “Age of Anxiety” – Arcade Fire

It’s a new song from an old band and a song that expresses what many of us are feeling. Climate change, political tensions, conflict, social media, rising costs of just about everything, and the highly volatile investment market that has impacted investors and his KiwiSaver fund this year cannot be underestimated. With the big R (recession) hanging overhead next year, it’s no wonder we’ve all been craving a break. Hopefully, the waves and the sun will wash away some of those fears.

8. “Let’s Do It” – Marvin Gaye

A great soul track that has stood the test of time. The sentiment of this song could apply to the global tensions that have been a part of every generation’s life on this fragile planet of ours. I’m not talking about the current conflict in Ukraine – that will come up later. This is about tensions between China and the United States. We’ve seen a lot of posture between these two superpowers, and it deserves attention. Let’s hope they follow Marvin’s advice and that love, not war, is the answer.

Number 7: “Can’t Get Enough” – Super Groove

We are happy to include hits from New Zealand in this countdown. Because it represents supply and demand. The big problem for the last two years is because it felt like we couldn’t get it no matter what we wanted. Watch this track go down the charts in the new year, though. Warehouses are on the verge of bursting, and rising interest rates are reducing demand for goods. There may be big bargains in the new year.

Number 6: “Money” – Flying Lizard

Wow, this track hasn’t been seen in years, but it’s back on the charts and it’s all about pay raises. Many industries and sectors, brought on by inflation and a general rise in the cost of living over the years, are saying enough is enough. I’m sure there will be more to come, but be careful what you want. If the Reserve Bank does well, staff demand may not be as high next year.

Number 5: ‘Moving on up’ – M People

That’s exactly what happened with the official cash rate this year. It was 0.75% in November 2021 and has since climbed to 4.25%, and many expect him to be closer to 6% in the new year. Homebuyers have taken advantage of the lowest mortgage rates seen in years, but find themselves in a challenging environment as their fixed-rate mortgages come due. Some people Let’s hope inflation subsides and these rates return in the not too distant future.

4th Place: “My Home” – Madness

A great 80’s track that will get most punters onto the dance floor. It wasn’t too long ago that I was laughed off when I said that house prices could go up as well as go down. Covid has done something few people could have predicted (and most people didn’t initially), helping home prices skyrocket. Low interest rates, New Zealanders returning to New Zealand, and homeowners looking to improve their properties after learning the world is not doomed have pushed land prices across the board above inflated highs. Like the 1969 song “Spinning Wheel” by Blood, Sweat and Tears, “what goes up always comes down” is exactly what happened in 2022. It shocked and terrified a generation that only knew about rising housing prices. Who knows what they’ll do next year, but I think it’s going to stay that way for a while.

3rd Place: “War” – Edwin Starr

The conflict in Ukraine has had a major impact on the global economy, and few countries have escaped the consequences of the war in any way. This has caused fuel and food prices to rise, impacting the cost of various goods and services. We hope that the conflict will be resolved quickly and positively so that Ukrainians can live in peace again.

2nd Place: “Higher Ground” – Stevie Wonder

If at the end of last year there were still people living in a bubble who didn’t believe in climate change, this year’s domestic and international weather events should have convinced them otherwise. It felt like few days went by without news that some parts of the world were suffering from extreme weather, including here in New Zealand. More companies are taking a much more proactive approach to tackling the impacts of climate change because they invest in companies that are doing everything they can to help. I hope this doesn’t make it to number one, but expect to see it on the yearly charts in the near future.

Number 1: “Inflation” – Ernest Jackson, Sugar Daddy and Gumbo Lu

Music is often an outlet for songwriters to express their political and personal frustrations. New Orleans singer-songwriter Ernest Jackson composed the song “Inflation” in 1975 after being adversely affected by the high cost of living. The funny thing is that it wasn’t released until this year. planet moneyThis is a great story because inflation is all around us all the time, but there have been times in history when it reared its ugly head. ‘s track. It’s a little unnerving to predict that we might even top the countdown next year, but let’s hope it doesn’t!

My bonus track is “Shake the Disease” by Depeche Mode.

Almost above the countdown of the past few years in unprecedented times, as many have said. And just when we thought things were going well, Covid has knocked on the door of another top 10 hit this year. It has brought so much pain and loss over the last few years and has had ripple effects like no other in my lifetime.

I wish you all a wonderful 2023. I hope next year many of these tracks will disappear from my list.

Disclaimer: David Boyle Mint Asset Management LimitedThe above article is for informational purposes only and is not intended to be investment advice.

Mint Asset Management is the issuer of the Mint Asset Management Fund.Download a copy of the Product Disclosure Statement here.

https://investmentnews.co.nz/sponsor/a-musical-countdown-to-the-number-1-financial-impact-of-2022/ A musical countdown to the biggest economic impact of 2022

Back to top button