Forum Archive Index - October 2000

["Jack D'Arcy" <jackdarcy@bigpond.com>]

The Olympics were brilliant, an experience of a lifetime but the self congratulation is getting a little sickening now so by going home tomorrow we will at least escape from that

My favorite headline in the last week "New Zealand wins a gold for pessimism"

From today’s The Australian

"Wake up now or dollar will be worthless"

The article talks about the reasons for the falling dollar

• Huge current account deficit
• Low growth
• Lack of overseas investment

And remedial action required (at least according to the writer)

• Totally new approach to research development
• Higher skills level in workforce
• Attract skilled workers from overseas and specail tax rates (brain drain to Europe and US)
• Increase total population (economies of scale)
• Revamp industrial relations i.e. reduce the power of the unions
• Increase savings rate
• Lower taxes
• Increased investment returns to attract new capital

Etc, etc. Sound familiar?

I was surprised to see the steep fall in the Fletcher shares today. I thought that the delay in the devolution strategy until early next year was common knowledge; I think I said as much in a post a few weeks ago. An announcement cannot be made until all the ducks are in a row and it is obvious that the Commerce Commission decision on the Shell buy out has to be released (and possibly amended and resubmitted) before anything can happen.

Oh well, back to the Land of the Long White Shroud tomorrow

Cheers

Mike Hudson