The pound!

bingobob777

The current exchange rate is great for those sending money back to the UK every month. I could save it here in Australia and get 6% but figure that at the current exchange rate it's better in the UK getting 4%.

As far as house prices go, I reckon Australian prices as a ratio of wages are similar to the UK in early 2007, it just seems worse to people moving over because they're talking about spending 500k rather than 150k.

The rental market in Brisbane is ridiculous though, anywhere decent with 4 beds and a pool is upwards of $700 a week and usually ends up with multiple applications. A city wide search of Brisbane with just those two requirements will give you about 20-30 properties, most of which could be ruled out without ever seeing them. With the lack of availability I honestly don't see house prices falling that much as buying gives you many more options on house location and type.

Anyone who is in engineering should seriously consider coming over though, there is alot of money to be made in the next few years.

bingobob777

bendix wrote: »

Pull yourself together and give up the hyperbole - there's a dear.

If Australia is self-sufficient why does it - as Generali himself pointed out - import more by value than it exports.

No country is self-sufficient. The only one that has tried to be (North Korea) has failed spectacularly to the point that its people are starving and it resorts to drug trafficking and international crime to survive.

Irrespective of mineral wealth, Australia is NOT a manufacturing economy. Nor has it proven itsself to be particularly innovative in the past. Like every other country, it needs to trade with the rest of the world for the things it doesnt have and that - in a nutshell - is why the world economy is not a mirage and is not going to collapse - horribly.

I think the important part is that if the SHTF then australia could be self sufficient in important stuff, ie. food, fuel and water. they could get by without Volkswagen and Samsung if really necessary.

chewmylegoff

Generali wrote: »

Don't get me wrong, a strong Aussie is great for me. I bought an Aquascutum suit for AU$150 on my recent trip back to the homeland. 8 years ago it would have cost AU$1500 or more!

bit disingenuous this innit? these days £100 = AU$150.

8 years ago £100 would have be equal to about AU$250, so AU$1,500 would have been equivalent to about £600.

so basically the vast majority of your saving was as a result of you getting the suit in a sale.

Mr_Mumble

Depressing, bearish, piece on Sterling at Bloomberg today:
Sterling No Refuge as King Eyes Stimulus

Joe_Bloggs

There has been a competitive race to devalue the Dollar ,Pound, Euro against all other currencies. It looks like the UK won despite own goals from the Euro and Dollar.

Problems may arise when the exports are the under utilised brains who can find a better deal elsewhere on the planet.

J_B.

adyj73

bingobob777 wrote: »

I think the important part is that if the SHTF then australia could be self sufficient in important stuff, ie. food, fuel and water. they could get by without Volkswagen and Samsung if really necessary.

I agree Bingobob - if you level it out at survival only then Australia and Canada are very strong contenders. All this rubbish about importing more than you export is around luxury items you don't actually need to survive. Once society collapses and the global economy with it you are better living in these two countries than anywhere else in my opinion. Although South America could also be an option but not sure of their resource cache.

Unfortunately most people try to counter act this argument by looking at our society as it is today - high dependency on goods we don't actually need to live!! The current global economy is a mirage and is kept going only by sleight of hand on the part of big Governments and big business....

The future wars will be fought over water and food production capability and Canada has plenty of both :-)

StevieJ

adyj73 wrote: »

I agree Bingobob - if you level it out at survival only then Australia and Canada are very strong contenders. All this rubbish about importing more than you export is around luxury items you don't actually need to survive. Once society collapses and the global economy with it you are better living in these two countries than anywhere else in my opinion. Although South America could also be an option but not sure of their resource cache.

Unfortunately most people try to counter act this argument by looking at our society as it is today - high dependency on goods we don't actually need to live!! The current global economy is a mirage and is kept going only by sleight of hand on the part of big Governments and big business....

The future wars will be fought over water and food production capability and Canada has plenty of both :-)

Would that be as a slave of the Chinese or whoever after the invasion :eek: Or as Rabbie put it.

But, Mousie, thou art no thy lane
In proving foresight may be vain:
The best laid schemes o' mice an' men
Gang aft a-gley,
An' lea'e us nought but grief an' pain,
For promised joy.

adyj73

I think that's a fair point re the Chinese. Didn't Nostradamus say the Chinese would eventually rule the world and it will likely come true. Economic capitulation is much easier and cleaner than military domination....

heathcote123

Engeroosi wrote: »

Will the pound ever go back to being $2.50 Australian?

Will it ever be more like 2 euros?

Or are we forever going to be worthless?

I've just come back from 1 week in spain, and my guess is that we're somewhere near the bottom, it's pretty pricey out there.

I would short the euro v the pound, but that would guarantee the opposite outcome, so I won't for your benefit.

purch

Will the pound ever go back to being $2.50 Australian?

Will it ever be more like 2 euros?

Or are we forever going to be worthless?

Not sure you quite understand this Foreign Exchange milarky :eek: