re: current account deficit??? does it matter
You can easily buy shares in Xtrata. I think that its shareholder base is truly international. I suspect that the ownership of BHP is spread right across the globe. MIM was largely owned by international investment funds and Canadian miners.
I think that what is of concern is that on an individual basis people are seen to spend all their savings, and more, on non productive areas such as their house, car and lifestyle. This I think is blown out of proportion by the media. But anyhow that is their choice. It won't affect me. Possibly the decades of high inflation in this country has bred a "spend as soon as you get" mentality. Compulsory super' will rectify some of this although I am against this on principle. Taxation bias against capital gains is another problem.
