New Zealand Christchurch Earthquake Economic Implication from HSBC

New Zealand Economic Comment
Earthquake is another set back





Today another earthquake struck Christchurch. The quake was 6.3 on the Richter scale and follows last September’s 7.1 quake which did significant damage to the Canterbury region. Reconstruction following last year’s quake was expected to be a key driver of economic recovery this year, though subsequent aftershocks had delayed it. Today’s event will disrupt economic growth and also delay reconstruction efforts further, posing a downside risk to the interest rate outlook (though we do not expect a cut). Rebuilding will still boost the economy, though the risk is this will occur later than previously forecast.

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Facts
- Another large earthquake struck New Zealand at 1251 on 22 February. It measured 6.3 on the Richter scale (compared with 7.1 for last September’s quake).

A peek into the future - Who needs humans?

When I saw the first few seconds of the video, I was like, "WOW!". I'm nowhere living near that but have you noticed how people nowadays are so busy with their gadgets? Imagine a family having dinner.. kids play games in their iPhones. Dad checks email in his blackberry.. mom reads magazines in her iPad. It's nowhere near the video I will show you but you can see it taking shape.



Looks cool, right? Who needs humans?

Here are some of the comments in that Youtube video:

> something trouble me a bit here, everyone living in virtual world and no one seeing each other in real live... do you not want to touch & hug your grand kids anymore??

> Cold cold world

> If the future is this 24/7 endless addiction to technology, shoot me now!

> This is how the life will become almost totally virtual...

> just hoping that humans can really communicate better for the good . . .