Australian Dollar is collapsing

[Yellowtail]

I am always amused by people claiming they "know" how the markets are going to move, particularly when they are wearing cheap shoes...

[Artisi]

1 hour ago, Yellowtail said:

I am always amused by people claiming they "know" how the markets are going to move, particularly when they are wearing cheap shoes...

I've never worn cheap shoes in my life, in my single days I wore handmade shoes, but couldn't predict the exchange rates ????

[still kicking]

3 hours ago, gearbox said:

It depends where your "condo" is...in Sydney any 2 bedroom apartment within 10km from the beach will swallow your OAP completely, and many would cost a way more.

I am in Perth I pay 240 AUD per week and haven't had a rent increase in 7 years and the rent includes water charges and I live near the city centre 

Edited August 15, 2023 by still kicking

[Olmate]

10 hours ago, still kicking said:

I am in Perth I pay 240 AUD per week and haven't had a rent increase in 7 years and the rent includes water charges and I live near the city centre 

Rent assistance helps of course.

[Adumbration]

Wow.  Collapse really picking up steam now with poor economic data coming out of China.  A full 1c decline overnight.  AUD now trading at 64c.  Next stop 60c.

[Adumbration]

18 hours ago, gearbox said:

Forex forecasts are like weather forecasts, but at 25+ AUD didn't seem to me to have much more potential to go further up, so I moved quite a bit of money from Oz to Thailand.. around 2 years worth of living expenses.

You should have moved all of it into THB and USD.  I should have also.  No way but down for the AUD.  China is doomed due to unsolvable inverted population pyramid resulting from one child policy.

 

It is frankly terrifying to think that the AUD is now trading at a level normal reserved for huge risk off events like 9-11 or Covid.  If it is trading at circa 60c and there is another black swan event it will break 50c resistance for sure.

 

Those living on the Australian OAP here need to start working on their plan B right now.  

 

Australia lorded itself as the wealthiest country on the planet because of ponzi scheme house prices.  A three bedroom fibro ex housing commission house in Mt Druitt is not worth a million dollars..not by a long shot.

 

But now the game is up.  Yes the meth lab house in Mt Druitt will still be worth one million dollars.  But that will only equate to 300-400 USD.

 

The RBA has also halted raising interest rates because the mortgage cliff has arrived.  That will apply further downward pressure on the AUD.

Edited August 16, 2023 by Adumbration

[KannikaP]

Way off topic. But I hope the Australian Women collapse today as well. 555

[Adumbration]

15 hours ago, still kicking said:

I am in Perth I pay 240 AUD per week and haven't had a rent increase in 7 years and the rent includes water charges and I live near the city centre 

Realestate.com.au is the oldest and most popular realestate website in Australia.

 

Here is a link to a filtered search for rental accommodation in greater Perth area.  Filters are for $250 per week and 2 bedrooms.  Search result: zero properties found:

 

https://www.realestate.com.au/rent/with-2-bedrooms-between-0-250-in-perth+-+cbd+and+inner+suburbs,+wa/list-1

 

You need to pray your landlord does not terminate your lease to get a higher paying tenant in.  I hear that is all the rage nowadays back in Oz.

 

What exactly is your plan if you get kicked out of the place you are currently renting?

Edited August 16, 2023 by Adumbration

[carlyai]

22 minutes ago, KannikaP said:

Way off topic. But I hope the Australian Women collapse today as well. 555

They will after they thrash the bloody Poms.

[gearbox]

14 minutes ago, Adumbration said:

Realestate.com.au is the oldest and most popular realestate website in Australia.

 

Here is a link to a filtered search for rental accommodation in greater Perth area.  Filters are for $250 per week and 2 bedrooms.  Search result: zero properties found:

 

https://www.realestate.com.au/rent/with-2-bedrooms-between-0-250-in-perth+-+cbd+and+inner+suburbs,+wa/list-1

 

You need to pray your landlord does not terminate your lease to get a higher paying tenant in.  I hear that is all the rage nowadays back in Oz.

 

What exactly is your plan if you get kicked out of the place you are currently renting?

His rental is probably one of the rare cases when the landlord doesn't have the financial incentives to raise the rent. I knew people in Sydney renting like that, the landlord was on partial OAP and would lose his health care concession card and whatever else with higher income from his apartment.

 

[Adumbration]

1 hour ago, gearbox said:

His rental is probably one of the rare cases when the landlord doesn't have the financial incentives to raise the rent. I knew people in Sydney renting like that, the landlord was on partial OAP and would lose his health care concession card and whatever else with higher income from his apartment.

 

Could be what you say, could be BS on his part and getting a deal from a friend or relative, or he could be way out east of Perth in the saltbush and mulga.  Regardless, he is in a world of hurt if he loses tenure on his current abode. Hundreds of stories now in the Oz press about the huge new wave of homeless OAPs.  Used to be they would just have enough money for rent if they switched off all the lights and eat no brand dog food in the dark.  Fact is now there is just nothing at all in the rental range that is remotely affordable on the OAP.  At least the homeless might have better food options.

Edited August 16, 2023 by Adumbration

[Adumbration]

Bye Bye 64 c now heading for 63c  

 

If there is an unexpected nuke in the Ukraine conflict or any movement on Taiwan hello 40c

[Sigmund]

The entire global prosperity and markets are slowly collapsing thanks to the USA and their full incompetence of the Biden administration plus their sanctions against Russia.

 

America is on the fall and is trying to take the rest of the world with them.

 

Europe has been foolish enough with the current leaders of the UE in Bruxelles to be the slaves of the USA.

 

Thank god however there are other countries in the OPEP+ or within the BRIC nations who don't give a hoot of the US bullying.

 

Sorry to my american friends and no offense. 

 

But Biden has caused the world far more trouble then Trump (who is what he is), but definately knows how to put business before absurd war politics on his agenda.

 

No offence please as we are talking about US politics and not making any unfriendly comments to the yankees in general ????

Edited August 17, 2023 by Sigmund

[KannikaP]

On 8/16/2023 at 11:34 AM, KannikaP said:

Way off topic. But I hope the Australian Women collapse today as well. 555

For the Confused member, YES they did, 3-1. Spain on Sunday.