Forum Archive Index - September 2002

["Mr Nua" <mr_nua@hotmail.com>]

Hi Hoop,

 

I agree 100% with your "oh dear post".

 

Unfortunately, due to the nature of democracy - politicians retain power by pleasing the majority of the people - a very different motive than creating a wealthy economy. Thus, by the nature of our demographics the majority does not include Eric Watson, nor - I suspect does it include most of the people on this forum.

 

Rather than a lower tax for business people like Eric, I suspect that this government is more likely to "solve" the problem by creating some sort of "leaving tax". This is far more likely to please the masses. 

 

How do you change the direction of a country when the majority would rather see higher taxes for the "rich" because thay are not in that group?

 

A difficult one, which I do not have the answer to.

 

 

 

My other comment is toward your "Short term vs Long term" post.

 

Without wanting to open the TA vs Fundy debate. The comment that "one mistake in STI and you are dead" is simply incorrect. You can lose the lot in one mistake in STI or LTI.

 

However, there is NO chance of losing the lot if you do either approach correctly. A STI without a strategy (which you would have to be to lose it all on one mistake) is not a Short term investor, they are a punter.

 

I would go so far as to say that there is less chance of losing the lot in STI than LTI, because in an Enron type situation the STI will sell out before the LTI (who may never).

 

I believe that the biggest problem facing new STI's with a strategy is the "pecked to death by a thousand ducks" problem where capital is slowly eaten away by small losses and brokerage.

 

Anyway, food for thought. Good to see the level of posting up.

 

Nua 

----- Original Message -----

From: Richard Hooper

To: sharechat@sharechat.co.nz

Sent: Friday, September 06, 2002 12:43 AM

Subject: [sharechat] oh,,,,dear.. more bad news

The problem with a centre left Govt in New Zealand is that they turn a deaf ear to the rich,to please the poor non-productive masses that will vote for them in the next election........................Note....................nonproductive.........

 

Since the personal tax increase from 33% to 39% it seems we as a country has lost not only tax revenue but the our most productive personnal.

 

Eric Watston it seems, is another to go overseas  to join to mass migration of to rich NZers to Europe......We get nonskilled low wage type people in exchange for high skilled management ultra rich leaving....

 

Labour Govt please wake up ...........since you have raised the taxes from 33-39% you have created our best  productive personal to leave our shores and have not increased any extra revenue tax in this area.

 

If you are listening ...please .....please .... for the sake of our economy.

 

You have 2 years to recify this terrible sitiuation ..The last year (2005) you can please the welfare ..dole ..medical ...acc...benefit people which makes up for 50% of the New Zealand  voters...........

 

The bad news is the last statement .......too many people on the benefit........

 

What a silly situation .........the NZ Govt  forces the rich productive people to reside overseas by taxing the hell out of them ....welcomes the poor to come to NZ.......or create the situation for the poor to stay in NZ thru giving them benefits............

 

Overall Result........Lower Growth rate with our trading partners.......There is nothing we can do as a a nation until the Govt changes its economic policies. .........If  we the people want to lift our country up into a rich nattion status we have to protest .....something which NZer's seem to have forgotten to do

( due to our laid back attitude)

 

 

investors are thin on the ground and decreasing.

 

The future lies with us

 

Hoop

 

Disc:-    no political motive ....left /right   up/down .... just using common sense.