And now for news from Helengrad

Heres the latest news from that economic powerhouse, New Zealand. It seems that their Dear Leader, Helen Clarke, in true socialist fashion, has slapped on some nasty regulation on the national telecommunications carrier Telecom.

Dear Helen and her comrades told the proletariat that things would improve, access to broadband would improve and pricing would improve.

Shareholders weren't fooled:

Telecom, which has had $2.25 billion wiped off its value in 10 days after the Government announced it would take a heavier handed regulatory stance

You can't say they weren't warned. On the 3rd of May:

"This is regulation for the sake of regulation," Telecom General Manager Government & Industry Relations Bruce Parkes said today. "The Commission has failed to make a case for why fixed to mobile calls should be regulated, but is recommending that step nevertheless."

Socialism destroys wealth, creativity, profitability and productivity. Shareholders know this. Politicians like to ignore it, because after all, they get more power and influence as government expands its tentacles into the market.