So labour it is. What will happen tomorrow morning. Will the stock markets collapse? I think there will be a market correction at some stage. This maybe the catalyst
But Winston already absolved himself of blame......
Tomorrow is 30 years since the Black Tuesday 1987 crash!
I remember going down to watch the carnage from the public gallery above the trading floor. It was a memorable if crowded experience. I ended up losing nearly 70% of my life savings - which was painful but I'd rather be schooled in the risks of speculation at age 21 when the amounts are small and i have a career ahead of me than at 51 when it's my retirement savings on the line.
As for the political pole vault to the far left, I'm voting with my wallet. The money I had planned to re-allocate to New Zealand will remain off shore for the time being. At a purely selfish level, a decent drop in the prices of some of our better quality shares and the NZ$ would be welcome.
Yes, I agree - but that depends upon the influence the Greens have in the equation, which we won't know definitively for quite some time.
I expect the markets to have some jitters tomorrow, but for long-term holders in quality companies, I can't see anything at this point, which would be cause for alarm.
I imagine the green party will have as much influence as the collective morning effluent of a small town after an Indian food festival. (No offence to Indian food I greatly enjoy it on the way in)
But if the mood of our new leaders is to reduce the value of the nzd and increase labour costs through reduced immigration....there will be a few companies I will certainly be keeping shy of for now
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Originally Posted by Ggcc
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