Was just talking to someone about the terrible decline in share prices,
and we looked at BHP*, which gives an interesting perspective.
I can't get back before 10 years ago, but wasn't the price then
considered okay?

We are nowhere near as low as that price, although, an adjustment for
CPI would be interesting - except that the CPI index doesn't take into
account land prices, so how useful is that?

It seems to me that the bubble must be in part due to overproduction of
money, but also due to demand for raw materials in the mad housing and
infrastructure boom.
What, I wonder, is the proportion for each?
There was already a housing boom in Australia and the US in 1998.


Sheila N


* BHP Billiton is a significant, global resources company - find out more about
our organisation, Board, history, structure and annual results.
www.bhpbilliton.com/