The Australian economy to collapse.

[flybyknight]

my guess is someone in the media or with connections, wants to buy some assets in Australia.

you get these little scares to knock the au$ from time to time.

good to help save a few quid.

things look great here though, lots of building and no unsold houses, development on a mad scale tbh.

if theres gonna be a recession, someone forgot to tell Australia about it.

if things change, ill report back.

[Johndoe]

The biggest problem for the Australian economy is that growth is almost totally reliant on mining, all other sectors are struggling.

 

[h=2]Exports in Australia increased to 25746 Million AUD in March of 2013 from 25598 Million AUD in February of 2013. Exports in Australia is reported by the Australian Bureau of Statistic. Historically, from 1971 until 2013, Australia Exports averaged 8473.99 Million AUD reaching an all time high of 27963 Million AUD in August of 2011 and a record low of 434 Million AUD in October of 1971. Rich in natural resources, Australia is a major exporter of commodities. Metals like iron-ore and gold account for 28 percent of total exports, coal for 18 percent and oil and gas for 9 percent. Manufactured goods constitute 33 percent of the total exports with food and metal products and machinery and equipment accounting for the biggest share. Agricultural products, particularly wheat and wool make up 5 percent of trade outflows. Australia's largest export markets are China (27 percent of total exports), Japan (17 percent), South Korea (7 percent), India (6 percent) and the European Union countries[/h]

[northshorepom]

To be fair to HB (even though I don't agree with most of his posts on this thread), that info says nothing about trends or changes over time of manufacturing.....also IMO food should be stripped out as it's not really "manufacturing", if indeed manufacturing is what you are concerned with

[Johndoe]

To be fair to HB (even though I don't agree with most of his posts on this thread), that info says nothing about trends or changes over time of manufacturing.....also IMO food should be stripped out as it's not really "manufacturing", if indeed manufacturing is what you are concerned with

 

If it is "processed" food, made from raw materials, then it would be, (in the strict sense of the word), manufacturing. Seeing as wheat is mentioned under "Agricultural products" then I assume that "food" is indeeed classed as manufactured goods.

[newjez]

Seriously???

 

​

my guess is someone in the media or with connections, wants to buy some assets in Australia.

you get these little scares to knock the au$ from time to time.

good to help save a few quid.

things look great here though, lots of building and no unsold houses, development on a mad scale tbh.

if theres gonna be a recession, someone forgot to tell Australia about it.

if things change, ill report back.

[Guest chris955]

I think we must assume it was tongue in cheek

 

Seriously???

 

​

[Parley]

Did George Soros make a motza on the fall of the $ ?

[RioMarina]

What a ridiculous post heading!:rolleyes:

The Reserve Bank is always adjusting the official interest rate up and down in response to economic conditions. It usually happens a couple of times a year. It is probable it will go down 0.25% at their next monthly meeting.

However the other banks aren't obliged to alter their rates accordingly.

 

And as for bank lending being "far worse than the UK and America" ????? :err:

Before the GFC Australian banks were lending somewhat more liberally than they are now, but they had nothing like the sub prime mortgage lending of the US. And no Australian bank had problems like UK banks such as Northern Rock or the Bank of Scotland.

 

All "big four" of the Australian banks are rated in the top 18 safest banks in the world - only 1 UK bank is (and no US bank).

 

LOL, Might not have been so ridiculous as you thought. Oz Dollar dropping like a stone. Currency rates don't lie. Time will tell, sooner rather than later.

[KIRK AND CO]

 

LOL, Might not have been so ridiculous as you thought. Oz Dollar dropping like a stone. Currency rates don't lie. Time will tell, sooner rather than later.

roll on the good times £3.00 to $

[BOB T]

roll on the good times £3.00 to $

 

Maybe $3.00 to £1 would be even better.

[Peach]

LOL, Might not have been so ridiculous as you thought. Oz Dollar dropping like a stone. Currency rates don't lie. Time will tell, sooner rather than later.

 

So what's your interest, for the past 13 months you've posted almost exclusively in this thread to tell us the sky is falling? :wubclub:

[KIRK AND CO]

 

Maybe $3.00 to £1 would be even better.

could of put the willeys up some with that error cheers LOL

[Skani]

LOL, Might not have been so ridiculous as you thought. Oz Dollar dropping like a stone. Currency rates don't lie. Time will tell, sooner rather than later.

 

The Oz dollar is dropping because the currency traders are feeling so gung ho about the US economy after some statements by the chairman of the US Federal Reserve - and are putting their money into US dollars. The US dollar has risen against all the major currencies.

 

There are many people in Australia who are hoping the Oz dollar will drop much more - because its high rate has adversely affected exports. I live in a state which has mostly non mining exports. It has been exporting more in volume but receiving less in money because of the high Oz dollar. Many of those exporters are hoping the Oz dollar will drop to around 80 US cents to make a real difference.

[Paul1Perth]

LOL, Might not have been so ridiculous as you thought. Oz Dollar dropping like a stone. Currency rates don't lie. Time will tell, sooner rather than later.

 

Your comments have nothing to do with the issues skani mentioned. The Aussie dollar falling from it's record highs is not going to affect the viability of Aussie banks. In fact all we've heard lately is how the high Aussie dollar is hurting the manufacturing industry so a lower dollar should be good for that sector.

 

For us on the street though all it's meant to us is petrol prices went up from $1.34 last week to $1.48 this week. The petrol companies are certainly making the most of it. Expect they'll blame it on the high cost of doing business in Aus.

[Battleneter]

The Oz dollar is dropping because the currency traders are feeling so gung ho about the US economy after some statements by the chairman of the US Federal Reserve - and are putting their money into US dollars. The US dollar has risen against all the major currencies.

 

There are many people in Australia who are hoping the Oz dollar will drop much more - because its high rate has adversely affected exports. I live in a state which has mostly non mining exports. It has been exporting more in volume but receiving less in money because of the high Oz dollar. Many of those exporters are hoping the Oz dollar will drop to around 80 US cents to make a real difference.

 

The US has indicated it will slow down on printing money, mean while funds and individuals are abandoning there position in Gold and the $US is rising.

 

There is so much cheap printed $US currency (excessively created out of thin air) bouncing from one speculative bubble to the next one at the moment, the entire system has become a giant unproductive casino.

 

The only prediction possible is seeing these huge swings in Shares/Gold/Currency continue for the next decade and that's assuming the money printing stops now.

[Guest chris955]

Maybe $3.00 to £1 would be even better.

 

At $3 to £1I would be almost tempted to go back to Australia.....almost

[newjez]

I would go at that rate - assuming I could sell the UK house.

 

​

At $3 to £1I would be almost tempted to go back to Australia.....almost

[Paul1Perth]

I would go at that rate - assuming I could sell the UK house.

 

​

 

Assuming the Australian economy hasn't collapsed and you would be able to get a visa and find a job.

[newjez]

I have citizenship - at that rate I could afford several houses and live off the rents, and I'd take any job. My best option would be to work remotely and still be employed in the UK. But I don't think my bosses would go for that.

 

Assuming the Australian economy hasn't collapsed and you would be able to get a visa and find a job.

[Petals]

Money printing is definitely a false way of saying things are on the improve. So I am not convinced, USA has huge debts. So it will be interesting times. Of course a lot of the talk is meant to settle the unsettled money markets, and wishful thinking of journos and economists alike. Who saw the US home problem, a lot of people in hindsight but did they that is the question?????

 

The Aus economy has been going down the gurgler for years and years according to who you read and which paper it is in. We in the rust bucket States are used to doom and gloom and I often wonder how we managed to increase our population so much when we are doing so bad in these States. They are still the most preferable place to live in Aus.

 

The one thing about the Aus economy is that Aussies are innovators and our farmers and other exporters are used to doing it alone without government interference, we have been on the level playing field for years, alone playing along ourselves, we will be fine. We know how to knuckle down and get on with things.

[RioMarina]

Oz has one of the highest base interest rates in the western world. The US is at 0.25. Europe has been low for awhile. RBA has room to stave off recession, or at least reduce it's impact. The sky is not falling, IMHO.

 

Amazing how things can change in a year or so!!!

 

http://www.theaustralian.com.au/news/features/sinking-feeling-in-the-boom-state/story-e6frg6z6-1226658953484

[wakeboard1980]

Amazing how things can change in a year or so!!!

 

http://www.theaustralian.com.au/news/features/sinking-feeling-in-the-boom-state/story-e6frg6z6-1226658953484

 

What does that mean?

[Guest chris955]

I assume he means a year ago the economy was powering along and now there is a marked downturn.

[RioMarina]

What does that mean?

 

As it says mate.

[wakeboard1980]

I assume he means a year ago the economy was powering along and now there is a marked downturn.

The downturn that they speak of hasn't just happened now.