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Thursday 12th September 1996

International:

The United Nations General Assembly overwhelmingly adopted Australia's Comprehensive Nuclear Test Ban Treaty ending a thirty year search for a solution to pending global destruction.

The treaty was passed by 158 votes to 3 - with only Libya, India and Bhutan not endorsing the document... now who the heck is Bhutan?

India exercised a veto last month which meant that it could not be signed or approved by the UN, but the Australian ploy saved it at the last moment... and guess who's jumping up and down like an excited school boy saying "look at me, look at me".

Yes you guessed it... the venerable Foreign Minister Mr Alexander Downer who has been remarkably quiet since his series of downers during the first half of this year.

Australian Ambassador Richard Butler introduced the treaty via a protocol back door... (don't you just love bureaucratic double speak?) - but it will remain unenforceable until India signs. The treaty will run for three years while General Assembly members try to coax India to sign....

Political:

Fred Argy the architect of financial deregulation in Australia has warned that the government risked social disorder if they remained insensitive to the high rate of unemployment in Australia.

Argy, the author of the Campbell inquiry, also expressed concern at the growing tendency of financial markets to dictate economic and social policy.... now could this be my pet subject the "money power"?

He criticised the Howard government for not setting an unemployment target as part of its economic management.

Argy said, "How can they justify things like fiscal deficits, inflation and not targeting the thing that matters most to people in the community - unemployment and the quality of life?

"We're not going to see riots in the streets tomorrow but, looking at my grandchildren, I do worry for them about social unrest."

Business:

Australia's biggest company, the multination BHP, has lost more than Au$1.4 billion in market value in the last two days.

The shares traded at Au$16.12 after dropping 24 cents yesterday.. this on the back of analysts forecasts of profit downgrades... the analysts predicted the stock was heading below Au$16 and would find it difficult to recover for some time.

This follows BHP's closure of the Port Kembla stainless steel plant which was announced this week.

Profits are expected to dip from Au$1.97 billion to Au$1.77 billion this financial year.

Social:

It appears that being a "macho man" isn't all its beat up to be. A study has confirmed that men in some of the hardest jobs including mechanics, welding trades, buiders and farmers have the highest rate of defective sperm.

Queensland Fertility Group scientist, Keith Harrison's analysis of 554 couples resulted in him saying, "This study does not infer that motor mechanics and farmers are about to become an endangered species due to their inability to reproduce."

"What it does show is that some occupations are more hazardous than others from the point of view of reproductive toxicity. This has considerable workplace safety implications."

Personal trivia, from the global office:

Was out on the river on Bootlebumtrinket at "sparrows" this morning... absolutely beautiful. Amazing the strength of the current in the river as the tide goes out. Took some pictures, in this one you can see Scott's rapids - the first going up from the mouth of the Brisbane river, and only 100 yards from the Global Office.

Beautiful warm day, unfortunately, some of it to be spent in the big smoke.... the sacrifices, oh, the sacrifices!!! (Big grin).


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