I am myself a bit bemused by all the arguments over exchange rates....
I remember comments from my friends and my first overseas trips:
2007 1 NZD buys 1 Swiss Franc, in 1975 it brought 3.3, in 1974 it brought
4.8 SFR (CHF)
2007 1 NZD buys .80 USD, in 1975 it brought $1.20 USD
It was then also higher against the Pound and the Australian dollar than it
is today if I recall correctly. I think if you go back further it was
higher again....the steady decline I recall arrived around the times of the
first oil shocks and Britain joining the EEC.
It seems to me that we are just getting back to where we once were. I am
not an economist but I do recall hearing that one of the essentials of a
healthy economy was a strong currency.
BTW Did you know you could Google
"1 NZD IN USD" and get the exchange rate ?
While I mention economists - here is a story:
[From The Scotsman newspaper]:
An academic is walking through the woods and sees that many trees
have had arrows fired at them. Each arrow is at the dead centre of a
bullseye target. The academic then meets the archer who is taking a
breather and praises him for his accuracy and asks how long it had
taken him to achieve his level of proficiency.
'Oh,' he replied, 'I only took this up this morning as relaxation
from my job - I fire dozens of arrows in all directions and whenever
one hits a tree, I draw a target around it.'
'Ah', the academic replied, 'you're an economist aren't you?'
From: offtopic-bounces@delp... [mailto:offtopic-bounces@delp...]
On Behalf Of Neven MacEwan
Sent: Friday, 27 July 2007 11:29 a.m.
To: NZ Borland Developers Group - Offtopic List
Subject: Re: [DUG-Offtopic] RE: [DUG] basic question
Before you swallow all the Government drivel Id suggest you read this
> 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
> NZ Borland Developers Group Offtopic mailing list
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