Australia had no problems till USA stuffed up. Housing here is still getting more expensive but interest rates at lowest in 60 years. If it wasn't for government that bush ran my damn holiday to cancun and USA woulbt have such a stuffed conversion rate. Went from 98cents to 65cents, WTF!!! Australia is holding up though. Hopefully Obama fixes USA up fast, it's screwing with my business big time
Bush f'ed up a lot of shit during his terms but this economic mess is not his fault. And much as people idolize Obama as savior of all things, the most he can do is to fix perception and confidence, not anything really concrete. US$ becoming more valuable has nothing to do with Bush. US$ is a safe heaven currency in time of uncertainty. There is a high demand for US$ right now, that's why your AU$ is not worth much anymore. Austrilian central bank can easily keep its currency from devaluating by raising the interest rate. But right now, the AU government probably rather lowers the interest rate to stimulate the economy (at the expense of devaulting AU$).
Unfortunately I had to make a budget this year and cancun didn't fit in, haha. Will look at it next year.
Aussie dollar dropped as soon as all the problems in USA started. It's bullshit how USA stuffs up and we pay for it
Like I said, currency is a like any other commodities, its value is determined by supply and demand. Any country's currency goes up when more people want to own it and goes down when less people want to own it. When there is an global economic crisis, people want to convert whatever they got into US$ and gold because those are more stable currencies. Look on the bright side, there are plenty of positive consequences of US$ being more valuable. For one thing, have you noticed the gasoline is much cheaper. OPEC sells oil in US$ so when US$ becomes worth less, the oil price goes up, and vice versa. And when a country's currency weakens, it's good for the country's export business. In order words, you guys will be able to sell a lot more boomerangs now. :lol:
The demand for the US dollar has gone down mate, it's 30% more expensive to buy. What you on about lol our exports have dwindled now. Petrol dropped for a few weeks but jumped back up. America got in shit with loans etc etc and has stuffed everyone with their exports and other stuff. If the home loans had been worked better world economy would be fine.
economics is a bitch i'm afraid ... the cost of commodities (petrol etc) has a direct correlation with currency valuations ... the same is happening in the UK, as the sterling weakens, we're seeing petrol prices slowly creep back up. Unfortunate, but thats the way it is Anyway, back to Mardi Gras BEADS AND BOOBIES ..... WOOOOOOOOOOOOOOOOOOOOOO
