Que for Ozzies in Thailand. Do you think the THB/AUD will go down?

[StevieAus]

29 minutes ago, bazza73 said:

There's belief, and there's fact. The exchange rate during the Rudd/Gillard/Swan years was actually much better than it is now, and started tanking when Abbott got in.

http://www.xe.com/currencycharts/?from=AUD&to=THB&view=10Y

And the deficit, home insulation, National Broadband, boats bearing illegal immigrants etc etc?

[Laza 45]

3 hours ago, StevieAus said:

Whilst I agree the Libs and particularly Turnbull are useless I haven’t forgotten the mess created by the Rudd/ Gillard / Swan team I believe the deficit they created in part has caused the drop in the Aus dollar they spend as if there is no tomorrow.

....."the mess created by the Rudd/ Gillard / Swan team I believe the deficit they created in part has caused the drop in the Aus dollar they spend as if there is no tomorrow."...     

 

That is a myth created by Abbott and Co.. and the Murdoch press..   if you actually look at the facts... and there are plenty to support this view..    Australia was the ONLY OECD country to avoid recession after the GFC..   what was added to the national debt pales into insignificance when you look at the blowout since Abbott and Turnbull  came into government..  I believe that what is causing the $AU to drop is the lack of leadership and forward planning by the LNP at the end of the mining boom.. they have been ranting on like they are still in opposition instead of actually doing anything constructive.  Their whole effort has been to protect their big coal buddies, the banks, the electricity generators and distributors, the big irrigators.. and many other LNP doners from any change... Their big cuts to spending and the stall of wages growth has stalled the economy..  Another huge one is the housing bubble that the they have created by letting the banks do what they like... while interest rates are low...  mortgages are at an all time high.. sucking massive amounts of money out of the economy and into the banks ... people have less to spend because their repayments are so high.. when you add the lack of growth in wages to that it is easy to see why economy is struggling while the banks are making massive profits..  Rudd/Gillard certainly made mistakes.. but the current situation rest squarely with the LNP and their neo-liberal clap trap.. they have had years to show that they are the better economic managers that they claim to be... look at what they have achieved so far.. a huge debt blow out.. a national broadband system that is obsolete before it gets off the ground.. an energy sector that is in disaray... .. I won't go on.. but they have created a shambles.. the time to get rid of them is long overdue..

[InMyShadow]

The AUD does seem to be weakening. That's due to Reserve Bank policy, it wants a weak dollar so exports are cheaper and imports become dearer. We are just collateral damage.
Historically, the lowest it has ever been was 21 baht to the dollar during the GFC. There's been times it was above 30.
As long as it's not too far from 25, I'm not worrying about it.

yep it's called jawboning. reserve bank has been telling us all the dollar will drop the dollar must drop... and then it...

[bazza73]

10 hours ago, StevieAus said:

And the deficit, home insulation, National Broadband, boats bearing illegal immigrants etc etc?

The deficit has grown under the Liberals. National Broadband has degraded under Abbott/Turnbull, and is now a laughing stock in Asian countries. Offshore detention costs about $9 billion a year. It would be cheaper to give each arrival half a million dollars to piss off.  Negative gearing, CGT discounts and family trusts have completely deformed the Australian tax system. The budget deficit would be resolved overnight just by eliminating negative gearing.

If you want to believe Coalition BS, go ahead. I can't wait to vote the incompetent pricks out.

And another thing - the Liberals are definitely NOT an OA pensioner's friend.

Edited November 21, 2017 by bazza73

[Rancid]

Yes, the Aus Dollar has been sliding against the baht quite relentlessly. We keep believing our own PR about the strength of the Oz economy, whereas the reality is very different. The only booming industries are the housing bubble and renovation TV shows.

 

Mining has dropped off dramatically, we manufacture nothing, government red tape makes small businesses increasingly more difficult to start and it seems the housing bubble may be about to pop.

 

Not that many other countries are much better off, but seems the lucky country may soon discover that being lucky isn't good enough.

[BEVUP]

1 minute ago, Rancid said:

Yes, the Aus Dollar has been sliding against the baht quite relentlessly. We keep believing our own PR about the strength of the Oz economy, whereas the reality is very different. The only booming industries are the housing bubble and renovation TV shows.

 

Mining has dropped off dramatically, we manufacture nothing, government red tape makes small businesses increasingly more difficult to start and it seems the housing bubble may be about to pop.

 

Not that many other countries are much better off, but seems the lucky country may soon discover that being lucky isn't good enough.

Why do they call it the Lucky Country ? Is it because all who come there can get benifits (I pay big time through my taxes - No such thing as free anything )

There's only a housing bubble due to offshore investors who pay rediculus sums for houses leaving prices out of range for locals

& you forgot to mention that many companies are about to drop a lot of people & Auss just lost it's whole car industry, this time there is no mining boom for them to try & get a start 

There will be a depression So as far as im concerned it's not a lucky country (I'm an Auss ) as they don't look after their Cytz jobs (like Asia ) 

 

[InMyShadow]

As always, a depression and burst housing bubble will provide opportunities for those cashed up.

 

 

[Aussieroaming]

16 hours ago, GreasyFingers said:

ba****d. i need to bring money in.

yes I sympathize. I get paid in $US, so I've lost about 10% of my earnings in currency transfer to the Baht in the last 2 years. I only send about $40K/year to Australia, but a drop in the $AUD does help.

 

Most of my cash is either tied up in the Baht or still sitting in the holding account as $US. 

[Aussieroaming]

19 minutes ago, BEVUP said:

Why do they call it the Lucky Country ? Is it because all who come there can get benifits (I pay big time through my taxes - No such thing as free anything )

There's only a housing bubble due to offshore investors who pay rediculus sums for houses leaving prices out of range for locals

& you forgot to mention that many companies are about to drop a lot of people & Auss just lost it's whole car industry, this time there is no mining boom for them to try & get a start 

There will be a depression So as far as im concerned it's not a lucky country (I'm an Auss ) as they don't look after their Cytz jobs (like Asia ) 

 

They call it the lucky country because they have to convince a nation that's being taxed to death that they are lucky to be there. Tell me that a person with a million dollar mortgage on a sh*tty 4x2 is lucky or that a person who hasnt had any real wage growth for 5 years is lucky. The only people there that are lucky are the politicians leeches who suck the life out of the general taxpayers

[Laza 45]

1 hour ago, BEVUP said:

Why do they call it the Lucky Country ? Is it because all who come there can get benifits (I pay big time through my taxes - No such thing as free anything )

There's only a housing bubble due to offshore investors who pay rediculus sums for houses leaving prices out of range for locals

& you forgot to mention that many companies are about to drop a lot of people & Auss just lost it's whole car industry, this time there is no mining boom for them to try & get a start 

There will be a depression So as far as im concerned it's not a lucky country (I'm an Auss ) as they don't look after their Cytz jobs (like Asia ) 

 

Much of what you say is true.. but the sooner the LNP is dumped and a real government is elected the better... at least Labor has some policies that will benefit many people and the economy.  Australia is a lucky country.. maybe not as lucky as it used to be but Australia has many advantages that other countries would long for...  Australia is not only rich in minerals and hydrocarbons it has a vast agricultural base.  All of which are valuable assets in the world going forward.. Australia also has vast renewable energy sources.. Australia should be leading the world in this area and still can with the right policies to ensure investment... any country having vast cheap renewable energy will have a competitive edge.  The education system has taken a bashing from the LNP but Australia is still seen as a safe and cheaper option for higher education by many countries... education is a multi billion dollar industry now.. and can grow.  Get rid of the Abbotts, morrisons, Duttons and Turnbull and give the country a chance to prosper.  Don't grumble too much our pension is still the envy of expats from many countries.. 

[farq]

19 hours ago, natway09 said:

Grabbing the bull by the horns, when will the Aussie $ go up?

Silly question

Not until they get rid of the Liberal coalition wrecking machine!!!

[bazza73]

2 hours ago, Laza 45 said:

  Don't grumble too much our pension is still the envy of expats from many countries.. 

I'm just wondering how long that statement will continue to be true. The Liberals tightened up the goalposts in terms of assets after the last election. Of course, they said nothing about it in the lead-up to the election. There are rumours the family home will be included in asset testing for the OAP if they get in again.

I think I can only point to one positive idea the Coalition has had in the last 13 years. That was when Costello established the Future Fund in 2004 to fund the superannuation commitments of retiring public servants. Since then, the Liberals have been a policy vacuum in terms of doing things to benefit the average Australian.

[Laza 45]

47 minutes ago, bazza73 said:

I'm just wondering how long that statement will continue to be true. The Liberals tightened up the goalposts in terms of assets after the last election. Of course, they said nothing about it in the lead-up to the election. There are rumours the family home will be included in asset testing for the OAP if they get in again.

I think I can only point to one positive idea the Coalition has had in the last 13 years. That was when Costello established the Future Fund in 2004 to fund the superannuation commitments of retiring public servants. Since then, the Liberals have been a policy vacuum in terms of doing things to benefit the average Australian.

Hopefully the LNP will be dumped sooner rather than later before they can do any more damage..  I doubt they will do anything drastic before the coming election... bashing pensioners isn't a good look.. Mind you... murdering refugees isn't a good look either.. but then who cares what the rest of the world thinks .. they can't vote anyway..   My cynical thought for the day! 

[GreasyFingers]

5 hours ago, Laza 45 said:

Don't grumble too much our pension is still the envy of expats from many countries.. 

That is if they give it to you. After 45 years of working and paying taxes they will say no if you spent too much time in Thailand.

[bazza73]

30 minutes ago, GreasyFingers said:

That is if they give it to you. After 45 years of working and paying taxes they will say no if you spent too much time in Thailand.

Not quite correct. As long as you have the 35 years working/resident in Australia, AND you are in Australia on the day you become eligible for the pension, you will get it, subject of course to income and asset tests. The expats here who trip up with Centrelink rules neglect to make sure they are in Australia when claiming the OAP. Then, they have to do two years penance for their sin of omission. A carryover from the days of transportation. I can't think of another country/government that does it.

[watcharacters]

On 11/21/2017 at 4:13 PM, Aussieroaming said:

I'm hoping the ass falls out of the Aussie dollar, then i can transfer money to Australia 

 

 

 

I'm sure every Aussie on the forum appreciates your hopes and wishes .

 

 

 

[Laza 45]

56 minutes ago, GreasyFingers said:

That is if they give it to you. After 45 years of working and paying taxes they will say no if you spent too much time in Thailand.

Not quite true... but if you have been away for a long time before your pension is due you have to spend 2 years in OZ before you get it.. with 45 years you would be entitled to a full pension.. 

[GreasyFingers]

19 minutes ago, bazza73 said:

Not quite correct. As long as you have the 35 years working/resident in Australia, AND you are in Australia on the day you become eligible for the pension, you will get it, subject of course to income and asset tests. The expats here who trip up with Centrelink rules neglect to make sure they are in Australia when claiming the OAP. Then, they have to do two years penance for their sin of omission. A carryover from the days of transportation. I can't think of another country/government that does it.

Sorry Bazza but you are not correct. You have to prove that you reside in Aus. Even though I had a company there, all my bank accounts there, still paying taxes, I failed the reside clause as I had benn in Thailand on and off for three years before. I was in Aus when i made the appication and failed again with three reviews.

[Aussieroaming]

23 minutes ago, watcharacters said:

 

 

 

I'm sure every Aussie on the forum appreciates your hopes and wishes .

 

 

 

I'm sure they are stoked. To fair I appreciate their concern if they have to transfer money from Australia. For me the opposite applies hence their loss and my gain or vise versa. I'm sure if the aussie dollar rises they won't be clammering for a reduction on my behalf.

[GreasyFingers]

6 minutes ago, Laza 45 said:

Not quite true... but if you have been away for a long time before your pension is due you have to spend 2 years in OZ before you get it.. with 45 years you would be entitled to a full pension.. 

Laza, I am entitled to the pension as long as I reside in Aus. As soon as I leave it will be stopped until the 2 years of residing are done. My pension would have been less than $50 per fortnight because of other income on which taxes were paid. That is how I can still live here and the government can take a flying jump. If you need the relevant legislation I can send it to you.

[Aussieroaming]

12 minutes ago, Laza 45 said:

Not quite true... but if you have been away for a long time before your pension is due you have to spend 2 years in OZ before you get it.. with 45 years you would be entitled to a full pension.. 

Yeah, as applies to me. After spending years paying well over a $100K/year in tax i have to re-qualify for a future pension. Given that I dont plan on returning to Aus for 2 years in order to do that I've scrapped any notion of ever receiving an Aussie pension in the future and am building my own pension plan.

[Laza 45]

1 minute ago, Aussieroaming said:

Yeah, as applies to me. After spending years paying well over a $100K/year in tax i have to re-qualify for a future pension. Given that I dont plan on returning to Aus for 2 years in order to do that I've scrapped any notion of ever receiving an Aussie pension in the future and am building my own pension plan.

$100k in tax.. I wouldn't think you need a pension.. what did you earn to pay 100k in tax ?! 

[Aussieroaming]

1 minute ago, Laza 45 said:

$100k in tax.. I wouldn't think you need a pension.. what did you earn to pay 100k in tax ?! 

I work in a high income bracket.....more that $500k/year after tax

[DavisH]

On 11/21/2017 at 11:58 AM, steven100 said:

Not worth worrying about ....  you can't change it and it certainly not worth sending thousands of dollars just to get in any earlier.

AUD $1   =   24.80     

It hit about 22 back in 2009, which was just in time for me to put money into the stock market. If it gets anywhere near there again I'll be buying AU dollars. 

[Laza 45]

1 minute ago, Aussieroaming said:

I work in a high income bracket.....more that $500k/year after tax

You don't deserve a bloody pension! 

[Laza 45]

The LNP have betrayed us as a People and Sovereign State to international corporate bodies. Our energy producers are mainly international corporations, as are many of our water holdings, our financial sector is controlled by international banking, our petroleum managed by international manipulated pricing, much of our food produce, delivery and resale … we are being squeezed for every penny we have in both our savings and future prospects. The LNP has sold us down the river to these voracious corporations for their own personal gain … which if we read their philosophies so clearly stated on their IPA manifesto of 100 (or whatever it is) wish-list … decrees quite openly if a tad convolutedly that it is a case of every person for themselves and if we but peruse the property portfolios of that end of the political town, we can see they have achieved that end with more than a degree

 

Full article here..  https://theaimn.com/the-machiavellian-egg/

[Aussieroaming]

1 minute ago, DavisH said:

It hit about 22 back in 2009, which was just in time for me to put money into the stock market. If it gets anywhere near there again I'll be buying AU dollars. 

Yes and it was pretty healthy by 2012, so buying AUD in 2009 would have resulted in a very healthy yield by 2012

[Aussieroaming]

1 minute ago, Laza 45 said:

You don't deserve a bloody pension! 

hahaha well i did contribute handsomely to the money pool. Maybe instead of the pension Australia can do the same as Thailand and issue us with a special badge called the tax suckers badge

[DavisH]

2 minutes ago, Aussieroaming said:

Yes and it was pretty healthy by 2012, so buying AUD in 2009 would have resulted in a very healthy yield by 2012

My investment (albeit small) has more than doubled in that time, even after portfolio manager's fees and taxes. I've also reinvested all dividends. I have another retirement fund I pay into in Thailand, but I will have no OZ pension coming to me later. 

[Aussieroaming]

Just now, DavisH said:

My investment (albeit small) has more than doubled in that time, even after portfolio manager's fees and taxes. I've also reinvested all dividends. I have another retirement fund I pay into in Thailand, but I will have no OZ pension coming to me later. 

Me either, hence why I'm setting my own pension funds up with stocks. To be frank who can guarantee what the Aussie pension would look like in 15 years anyway. I would rather sustain myself than rely on the pension system if given the choice.