U.S dollar crashes against the aussie $

Well today we have reached a first. the aussie $ is now worth over $1.06us. this is the highest ever in history. those of us above 35 can remember only back in the 90's you were lucky to get 70c for a u.s$. its making top news here as its history making. gold has also reached over $1500.

While not knowing the specific implications, i would hazzard a guess that means the u.s.a is really doing poorly. bargain time for us aussies and internet shopping from overseas has really taken off as we dont pay the 10% gst on items under $1000. the big end aussie retailers are crying in their cornflakes.

... Damn! That's good news for you all ... USA keeps melting down without actually opening up!

However, they shot themselves in the foot when they went to attack Libya, when they had no money anyways!

Oh well ... These things happen ... Unfortunately, a lot more often these days

It's the whole concept of ... What goes up, must come down ...

USA became so big headed that it just went a bit doolaali with everything ... Then they made mistakes and now they're coming down the ladder of success ...

Unfortunately, they didn't remember to be nice to the people they met on the way up, coz it's the same people they're meeting on the way down!


The News Link

reply to post by punterdeb


Bargain time?
More like seeing Australian tourism crash. Exports rise in price. Oh you'll have better purchasing power, but it won't matter much when you're economy tanks. A strong currency is only a boon for large economies like the US, Euro, Yen and Yaun. Even then it's still going to have the same implications.. it just won't be felt as hard as on a smaller economy. Sorry mate.

trust me i would much prefer a stronger u.s than what it is. they are our main allie and dont forget we are only 22million people with a country like indonesia with over 200 million mainly muslim's right on our doorstep.

the way to success...use a straw

the people that are leading this parade of the willing
once they have used the willing
to do the unwilling
they will do to themselves
what they have been doing to others
once thats done
they will be too

and we can go on doing
what ever it was we were doing
before they done come around here
to do us
in the first place...


PS i just bought a really nice guitar pedal board for half price
brand new on ebay from the US in canadian D...not bad
the opposite of the kind of shopping US tourists were doing here
when their dollar was 45 cents over ours...

reply to post by Rockpuck

Bargain time? More like seeing Australian tourism crash. Exports rise in price. Oh you'll have better purchasing power, but it won't matter much when you're economy tanks. A strong currency is only a boon for large economies like the US, Euro, Yen and Yaun. Even then it's still going to have the same implications.. it just won't be felt as hard as on a smaller economy. Sorry mate.

Spoil sport , True thou ,except China, all the ore and gas they buy from us is fixed price from years ago. Other exports are in trouble, thats unless other countries need what we have, mmmmm barley, which makes beer wheat for ya wheata bix we should be right for a while in these areas but I would rather see it lower then higher. makes for a false sense of richness, and Australia dont need that

Wal

reply to post by punterdeb


"You Beauty" Cheap goods for us! I must say I do feel sorry for the Americans because this is hurting the average Joe. I encourage all Australians to help a little and buy something from our US brothers and help them out a bit as they need the business and you can get a bargain! I also remember the days when Bob Hawke "Floated" the Aussie dollar as well as going as low as 60c!

Rabbitohs tut tut tut .... Just joking, Go the Eels!

the more the dollar falls, the less cheap that cheap labor becomes, maybe our jobs will come back home where they belong!! I was reading the other day where all the big corps are crying for a tax holiday, so they can bring their money home, and invest in their business here......

why have they kept it offshore all this time to begin with, oh ya, to avoid having to pay the taxes!!! the only way I'd be willing to give them a "tax holiday" is if they promised to bring their manufacturing back home, and well, there was some stiff fines in the bill for when they broke that promise! heck with them and their "tax holiday" one of the big reasons why we are in this mess is because they've allowed so much of the money to flow to the top, and then off to offshore, we can't tax it bank accounts.....maybe they should give their overseas slave laborers better pay I guess, so they can buy their products......because, well, don't think they are gonna have the consumer base in the US they once had anymore.

Its a bit off topic but what ive always hated about our economy is that instead of sourcing everything from our own country we always have deals with china and japan or other nations instead of using local produce. Examples would be sugar being bought from Brazil when theres mountains of it being grown in north Qld... With a stronger dollar this is only going to increase until everything is just outsourced and theres nothing left in Australia, so the government does have a challenge on there hands to keep our economy balanced.

i dont know how closely the above aussie posters follow the economic situation in australia...but those of who do will probably agree is australia is in for trouble. BIG TROUBLE.

Thing are going to get very bad very quickly. there is growning evidence that the australian housing bubble is about to pop.

www.bubblepedia.net.au...

the moment china slows down and there is growing evidence that this is starting to happen australia will be up the creek without a paddle. in the last 2 decades aussies have borrowed and borrowed big. a lot of people have borrowed against the equity they had in their homes they bought for $50,000 in the early 80's. they have funded trips, cars, holiday and even their own children into their own homes all of the back of equity.

the only reason we avoided the gfc is that the howard government had a big kitty put away. this is what was used to fund the whole stimulus programs and that is now gone.

hard times are ahead my friends....hard times indeed.

reply to post by phatpackage


up the mighty mighty south sydney rabbitohs. lol

Same story in Canada. For most of the last century, the Canadian dollar has been about 90-95 cents US, and I can well remember through the late 80s and 90s when the C$ dropped as low as 67 cents US.

Now our dollar is worth $1.05 US. It makes for good shopping in the US, but ultimately it's not so great for our economy. The US is our biggest trading partner. Traditionally we export a lot of resources (wood, oil, minerals) to the US, and if their dollar is weak they don't buy as much, meaning we have job problems as well.

There are advantages to a weak dollar. I believe this process is what tptb are looking for tbh.

Reduce relative value of US debt.
Increase US exports.
Increase tax revenue.
Growing exports produce jobs.
Increase tax revenue.
Wages rise.
Increase tax revenue.


It's the marketeers version of austerity.

As America's economy goes so goes the rest of the world. Trade in all your aussie bucks for dollars and come on over if your so happy. I hear theres plenty of tourist activity to be had in the gulf region.

I guess this means that my area of southern California is gonna get flooded with foreign tourist money. I am gonna have to make myself a good costume, stand out on Hollywood Blvd, and take pictures with tourists for tips.....

Sheesh

reply to post by Rockpuck


But Australia's tourism industry has always been in the bin, simply because its so f'n far away.
But our mining sector is increasing, thanks to china and the newer industrialising nations.

I dont think we'll tank, we may drop off again like in 08 but tank?

The thing I hate is hearing politicans and people go on about how good our economy is going and that its booming, with the AUvsUS $ as sign to this.

Thats BS, we are not doing that good, its just that the US is doing that bad!

reply to post by punterdeb


Time for you all to come on over for a visit.

Everything is on sale in this country.

I was in over in Australia about 4-5 years ago and loved it. I think that you'll find the people here in the US enjoy you Aussies as well.

Originally posted by Wildbob77
reply to post by punterdeb

 

Everything is on sale in this country.

Just be prepared to pay lots of taxes, regulatory fees, and government bribes.