Forum Archive Index - May 2000

[ril <ril99_99@yahoo.co.uk>]

Your chat group seems to have ignored the important macro events today:
To-wit: NZ dollar's new low at 46.6 and Brash interest rate rise. Stats.
emailed to me by friend.

Now this is serious. Brash has bumped up rates and still dollar fell.
How high is he doing to have to push rates to stop dollar fall and
inflation from imports? Who knows. But right now investors are running
and the stockmarket is going to get pasted. My guess OCR to 8% by year
end. Mortgage rates over 10%.

This is going to slow recovery which is supposed to be occurring -
according to stats - but God knows where according to my contacts.

So Brash will throttle off economy to keep dollar up and lose jobs in
the process. He should of course drop rates and let dollar find own
level but he and the B.Com's in Treasury and RB won't let it happen.
They chant price stability in their sleep. If they did let it fall
exports would boom and the deficit would regulate back to visibly
surplus. But price stability they chant...

As I've said before:

If you've got a brain, you're on a plane
If you're a clown, you'll hang aroun(d)

BAIL, BAIL, BAIL!

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