I'm sick of the dollar gaining value

[trev]

The Australian dollar continues to gain value against the US dollar and other currencies, now being up around 90% from its low point against the US dollar during the Asian economic crisis. This massive rise is leading to the closure of many manufacturing enterprises and increased current account deficits.
So all you foreigners who have been buying our dollar at the current exorbitant prices, sellout before it reduces from its current unsustainable value and you lose your money and we lose all our factories.

[Lancer]

Travel!

[trev]

Lend me the money in a nonrefundable loan so I can afford to travel, I could not afford to pay it back

[Lancer]

I'll get back to you on that.

[Skanky Burns]

So what you are saying is, now is a good time to buy lots of imports?

[trev]

Yes, if shutting down our factories and putting Aussies out of work and increasing our debt to the world does not bother you

[Zkribbler]

Man, this would be a great time to start selling crap to Australia.

How much will you give us for Paris Hilton?

[Ecthy]

You'll have to increase productivity or lower wages, trev. The Chinese threat is real.

[trev]

The chinese are the main reason our dollar is high, they pay so much for our iron and coal, stupid hedge funds think our economy is booming and buy our dollars, in reality large sections of industry are shutting down or thinking of doing so.

[PLATO]

Originally posted by trev
Yes, if shutting down our factories and putting Aussies out of work and increasing our debt to the world does not bother you

Hey! This is an American idea! Go get your own!!

[DanS]

I'd suggest that you get used to the weak dollar. Could still have a ways to go on the downside, given our relative current account deficits (Australia's is slightly lower than that of the US).

[Zkribbler]

Originally posted by DanS
I'd suggest that you get used to the weak dollar. Could still have a ways to go on the downside, given our relative current account deficits (Australia's is slightly lower than that of the US).

Clarify for me. When you say "current account deficits," are you referring to the trade imbalance, the national debt, consumer debt, or a combination of these?

[DanS]

http://en.wikipedia.org/wiki/Current_account_deficit

[JimmyCracksCorn]

Re: I'm sick of the dollar gaining value

I'm not sick of it yet.

Its actually a similar situation in Canada - manufacturing got (and is still getting) hit pretty hard. But in spite of all the doom and gloom forecasts, the economy is still chugging along as well as ever. Even now as we approach parity with the USD.

And, as Lancer said: travel!