Forum Archive Index - June 2000

["Mark Hubbard" <mhubbard@es.co.nz>]

----- Original Message -----
From: Phil Eriksen <phil@acepay.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: 3 June 2000 11:51 AM
Subject: [sharechat] Nasdaq etc


> NEW YORK (CBS.MW) -- Fresh signs that the U.S. economy is
>                  slowing was a welcome event on Wall Street, helping the
> Nasdaq score
>                  its best weekly gain ever.
>
> I've seen this sort of thing in a number of different places.  Having
> justified high stock prices because of strong growth, it seems the new
> justification is lower growth.  I can only live in hope that US
> investors decide to apply Nasdaq multiples on the NZ stockmarket due to
> the excellent prospects for sub-standard growth in the economy.


:))

Nice try Phil, but not quite a comparable situation. Firstly, the US economy
is going through, historically, its longest period of sustained growth ever,
and this 'slow down' is simply to knock off the head of the inflationary
pressures that are building because of this - as for NZ, well, no such past
growth I'm afraid.  Secondly, the US don't have the political risk that NZ
now has with its communist, whoops did I say that, rather Left (actually,
hard left) government that seems determined to bite off the hand that feeds
it, despite the latest cosmetic affectations of Cullen.

This is all IMHO of course.


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