And inflation is a BAD thing. The problem for government is how to reduce
consumer spending. OCR is very crude tool but other measures (limit
overseas investment, capital gains tax, etc are dubious and very hard to
parlimentary support for). Kiwisaver MIGHT reduce expenditure but I'll bet
sharemarket soars as fundmanagers desparately try to find places to invest
will in turn put more pressure on dollar.  Shame government didn't have to
balls to tackle the property market 3 years ago.


----------------------------------------------------------
Phil Scadden, GNS Science Ltd
764 Cumberland St, Private Bag 1930, Dunedin, New Zealand
Ph +64 3 4799663, fax +64 3 477 5232

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