Where does it stop

[YSS]

As per today for 1$ AU you get
US $ 68 cent
Euro 48.50
Swiss Franc  72 cents ( four weeks ago 1.02)

What will do this to our country and its people? This is a 20% inrease for imported goods in one month .

[Nathan S]

I don't understand it at all. The US economy is going to shit, ours is supposedly going well, and yet our dollar is doing the swan dive?

And FFS, in what sane universe does a bunch of people in another country, buying houses they can't afford cause all this shit for us? I mean, I've got an economist friend who explained how it all works, but my argument is that it shouldn't work that way.

Maybe the end of capitalism is nearer than I thought. The current model is obviously unsustainable - be interesting to see whether it can be propped up or if its already a basket case.

[Tim754]

 GET our piss weak politicians here and in NZ (Libor, Laberal, and their lap dogs the Country bogans Treehuggers etc etc and those dangerous ultra right wing mobs run by religious groups)  To tell the world and the "multinational companys" that well " you lot you want our iron ore ,coal ,gas , bauxite etc etc pay for it in our new valued Australian Dollar that will be fixed at %110 of the US dollars rate or straight trade for respectably priced Oil !!!!  dont want to do that. Piss off . We have to  Seize and nationalize the resources we have, this "free market with fork all relegation shit has failed!! Oh and good bye to private Banks of all types!!!!!

[YSS]

There is alot of merit in that Tim. 

[YSS]

What worries me , nobody is alarmed and most people just shrug their shoulders.  The fallout will be massive.

[oldfart]

How many of you can remember having a mortgage in the late 80's when interest rates where at about 18 percent, and some bone head politicians saying it was the recession we had to have ( Bob Hawk - Paul keating )

World markets seem to regulate almost every thing these days , sign of the new generation thingy
 Australia is unable to wing it alone, as they rely on other countrys.
  

[mike1948]

I've got to agree, Nathan.  The only trouble is I haven't got an economist friend to explain it to me, so I still don't understand.  Great to have a huge budget surplus, but it means Jack S**T on the world market.  And yes, I had an 18% Mortgage.  However, food in comparison to today was reasonably priced.

[oldfart]

Walter- It's not as bad as it seems. The market was too hot and  money was easy to get ( hence the USA ) The average bloke could not see what was going to happen , hence the Reserve bank putting up interest  rates to slow our spending.

[mike1948]

I don't have a problem with understanding the US credit crisis, and the effect on world share markets.  I changed my Super investment choice to cash at the end of last year when things started to appear unsettled,so missed the big drops.  It's the relationship with the $US whit upsets me.  If our contracts are to a large extent written in $US, we should at least achieve something close to parity. 
The last couple of products I've won on Ebay from the US don't seem such good bargains after all.

[TM BILL]

I think Tim is on the right track , unfortunatly these days a strong economy seems to fall well down the list of priorities behind making sure that all dead beats are well cared for , that the greenie maggots are taken seriously,that education and health services are deprived of any funding that could possibly make them function effectivley and that spotty faced arseole kids are given more rights than their parents   and sucking up to that war criminal Bush.

Going by the law of averages i should (accidents ,assasination or illness aside) be on this earth for another 40 years   I despair to think what this world will be like by then i can only imagine that we will all be living in bubbles for our own protection from ourselves  

The government through their various media campaigns have convinced me that there is no way i will possibly be able to retire as according to statistics i should have started saving 1.5 x my annual income since i was a fetus  

Its no good relying on the younger generations to look after us in our twilight years as most of the mutants they call kids today cant pronounce anything more than a 2 sylibul word or even spell their own bloody name. Of course it doesn,t matter of course as they know it all anyway. Should one rise above and show any sign of potential they are quickly stopped and reducated that everyone is equal and they must all gravitate towards the lowest common denominator so nobody feels bad  

So enjoy it while you can   VMX is for me so much more than riding restoring old bikes , it is a chance to step away from this politicly correct (who the fork came up with that phrase ) world and enjoy a short time with real people and reminiss the good old days

[Doc]

in times like this having little means losing little

yes everything will go up and so will my hourly rate to compensate, it always seems to level out and we just lose a little more each time..thats how it works..rich get richer and the poor get the picture, middleclass is well and truly a dying breed and it also means no OS buying for me till things improve..luckily I got in just before the collapse and sent myself bankrupt on a buying frenzy it all arrived in the mail today but I wished I'd payed the postage a week ago

[paul]

my dad work hard all his life  and invested wisely in good shares ,he died a few years ago and he made sure that my mum would be able to live ok for the rest off her life .
she informed me today that her shares and investments have de valued 250k in 3 weeks .shes a tad worried

[husky61]

As usual the market will bottom out, we will have recessed market/economy for a period of time .

The market will grow and away we go again.

Like they always say , buy low.

Buy now .

Or perhaps wait a little longer . But buy soon and if you can buy alot.

[YZ250H]

Couldn't agree more 61.  I almost put the money I was saving for the 465H into shares....almost.
Still a little way further to go down I'd say.  If only I was a financial advisor, but I'm not :'(

[mx250]

my dad work hard all his life  and invested wisely in good shares ,he died a few years ago and he made sure that my mum would be able to live ok for the rest off her life .
she informed me today that her shares and investments have de valued 250k in 3 weeks .shes a tad worried

Tell her to relax. In 12 months they will be back to where they were and in 5, maybe 10, years they will be doubled .

Global Warming not withstanding, Australia is less dependant on America than in the past. It will impact but it's not a case that 'America sneezes and Australia get a cold' as in was in the 60's 70's and 80's. It will impact on us China, India and the rest of the world but there is still enough fundamental demand for resourses to keep things percolating.

As for America, I think she has managed to shot herself in both feet . And things don't appear ready to change. I don't like her chances with either candidates .