Telstra Shares Drop from $7.40 to $3.50 - This is Called Good Economic Management 31/8/2006
Telstra Shares Drop from $7.40 to $3.50 - This is Called Good Economic Management
Remember the Telstra shares the government told us to buy at $7.40 a share in 1999? They're worth $3.50 now.
They call this "Good economic management".
It's part of the gospel of privatisation that for the last 20 years has been chanted from Canberra like a mantra.
The truth is our major political parties receive enormous political donations from the banks and financiers and when our public assets are sold off the banks and financiers make money out of them.
When the first part of Telstra was sold our elected representatives told the "Mum and Dad" investors to buy them, and the result was the "Mum and Dad" investors did their money.
Our elected representatives didn't do their money.
These are the same people that put Pauline Hanson in jail for fraud.
Now they tell us Telstra needs an infusion of funds so it must be further privatised.
The Snowy Scheme, The Harbour Bridge, our network of national highways, our national rail system and participation in two world wars were financed without private investment. Unless the country is broke why do we need private funds to run essential services now?
One Nation can't tell you if you should buy Telstra shares, but we can sure tell you don't buy the policies of Labor or Liberal.