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- POST OLYMPIC MISERE -
Australia, as host to the 2000 Olympics, has been on a four year high.
Australia's Prime Minister John Howard has been in the limelight. He has been photographed with Aboriginal gold medallist Kathy Freeman (who can now credibly accuse him of racial discrimination) and gave a cheesy grin with our shooter gold medallist's mum (look everybody, I am really a pro gun, caring person!).
New South Wales politicians have been strangely (perhaps wisely) reticent. Bob Carr, the bellwether politician, is away kissing babies in the bush.
Withdrawal starts next Monday.
The omens are not good. Our currency (exchange rate) is dismal. Telstra shares continue on a vicious downward spiral. The state of NSW has made a huge (Olympic) financial loss, and the mainstay building industry is in bloody decline. Add to that the crashing (non-US) world economy and the crushing rise in the price of oil.
Our taxation system is a shambles and recent rampant inflation will result in a crippling CPI tax burden on an economy already suffering the impact of a new 10% GST. Australian income taxes do not have indexed brackets & basic exemptions, but imposts (excise and other fixed taxes) are fully indexed to the CPI.
The happiest thing is that it
is raining. :)