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Strategies & Market Trends : The Stock Market Bubble
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To: bobby beara who wrote (1097)8/13/1998 8:29:00 AM
From: Moominoid  Read Replies (1) of 3339
 
On Australian Broadcasting Company Website:

NAB chief forecasts a downturn
'never seen before'
Thu, 13 Aug 1998


Dire warnings on the Australian economy have been sounded again by the nation's biggest and most profitable bank. National Australia Bank's Don Argus has foreshadowed further downward revisions to economic growth forecasts.
The audience for the bank's managing director has been business leaders hosted by the Committee for Economic Development of Australia. "There is no doubt we're in the midst, in my view, of our downturn that
many in this room have never, ever seen before," Mr Argus said. Earlier this year, the bank revised down its prediction for Australia's economic growth for 1998/99 to 1.75 per cent. "We have a thing under review, and it depends on what you put in you model, but I suggest that we will probably see it go under further. "This of course is a difficult environment to gain acceptance of taxation reform."

David Stern (have NAB put options)
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