Re: NYT and pkt seminar

["Richard Nolan" <RNOLAN@xxxxxxxxxxxxxxxxxxx>]

PREFER BEFORE XMAS OR IN FEBRUARY FOR SEMINAR AS WILL BE AWAY FOR ALL
JANUARY.
Full employment and demand management is hot subject in Aus. as
reserve bank(equivalent of the fed.) is threatening to increase
interest rates if there is a wage breakout and/or the government
doesn't take steps to reduce it's budget deficit more quickly by
increased tax rates rather than
the automatic reduction which follws from increased activity and
increased tax revenue etc..  Interest rates have already been
increased twice following US rates and the "wage break-out" is a
response to this.  The $AU has alredy risen and is troubling Aus.
exporters.
his total reliance on monetary policy is emerging as one instrument
chasing multiple targets. The lessons once learned seem to get
forgotten very easily!
Regards Richard C.Nolan