Sharemarket boom
Sir,—One page of your newspaper reports a sharemarket boom while the next reveals a balance of payments situation that can only be described as a crisis. Since our nation’s economic health depends on overseas trade and the payments one wonders how
such a boom comes about. Obviously a massive redistribution of the nation’s wealth is taking place. I question the morality of economic policy and management which lowers the purchasing power of those who produce the wealth and who have no responsibility for our problems, while raising that of speculators who do little or nothing for productivity. I fear the boom is not sustainable. Who, then, will pay the price of readjustment? A sharemarket boom during a wage freeze and a bogus price freeze is a gross and fundamental injustice that should raise the social conscience of all who are truly concerned for the nation’s future.—Yours, etc.,
JOHN FURSDON. July 30, 1983.
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Press, 3 August 1983, Page 20
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154Sharemarket boom Press, 3 August 1983, Page 20
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