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Re: [Fwd: NZ and OZ currency meltdown. Why]




Rob Schaap wrote:

> Well, everyone has a pet explanation.  The appallingly glamorous David Hale
> made a big splash when he smugly informed us we were a recalcitrantly 'old
> economy'.  No-one quite new what that meant, but they sold the Ozzie down a
> whole cent over the next two days.  That was the cent from 56 to 55 (three

Even if we really are "old economy", what other than irrational exuberance would
cause it to drop a currency *this* quickly?!

Bill

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