Money - Dr. Bollard of the Reserve bank says we should spend. Maybe so but on what. If we spend on TV's and other similar goods (imports) I can't see that can help us. Spending on long term infrastructure (ie Government spending) seems more sensible. But what do I know.
The media are going on and on about interest rates coming down are good and yes that is right - but.
I wonder what most workers would say if we told them that they cannot change jobs to increase their income and that their wages would be cut by 50%. This is what is happening to the retireds section as they see a halving of interest rates.
Then again we are not rational:
Scenario 1: Would you travel 10 minutes to save $10 on an item normally priced at $25-00.
Scenario 2: Would you travel 10 minutes to save $10 on an item normally priced at $600-00.
Most would say yes to Number 1, but no to Scenario 2.
Yet the saving is the same. We look at the total cost - that is we wouldn't argue over $500 in a house sale of $300,000.
Weather - hot as hell. Most days well over 20 and approaching 30 at times. Really hot for us and the sun is really bright. Hotter still in Melbourne where it has been over 40 degrees.
