Australian Dollar is collapsing

[HighPriority]

7 minutes ago, still kicking said:

I don't live in rural Australia I live in a city of 2 million and for your information I am married to a Thai keep insulting people you don't know a thing about Australia 

Some only have 1 skill...

[Olmate]

54 minutes ago, Adumbration said:

 

 

"GF shagged me stupid this morning." 

Going by your  prev. posting history that has been done all too often! ????

[owl sees all]

3 hours ago, Adumbration said:

If you are happy living alone in the boondocks of rural Australia good for you.

 

I prefer my house by the Andaman sea and waking up next to my beautiful young Thai GF.

 

I just renewed my Non-O extension myself for another year and 45 days early.  Cost me 1900 baht.

 

Yesterday I took my dive boat out to sea and anchored off a nearby coral Island.

 

I speared four big fish and then floated in the morning sunshine looking at the view and eating my lunch.

 

GF shagged me stupid this morning.

 

Tonight we are having a seafood buffet for dinner.  Fried red snapper, tempura squid, and steamed blue swimmer crabs....all caught be me.

 

Yep definitely more happy to be were I am and not in some tumble down fibro rental house skirting the desert in Kickatinalong South Australia and watching cricket on the TV for daily entertainment.

You mentioned cricket.

 

TBH, since the start of covid, I've lost touch. Have to get back with it.

[Adumbration]

16 hours ago, owl sees all said:

You mentioned cricket.

 

TBH, since the start of covid, I've lost touch. Have to get back with it.

I have just painted my front fence, PM me and I will give you my address so you can come over and watch it dry.

[Adumbration]

19 hours ago, Olmate said:

Going by your  prev. posting history that has been done all too often! ????

Actually I find sex clears the mind rather than cloud it.  And it definitely helps with my prostate issues.

[Artisi]

8 minutes ago, Adumbration said:

I have just painted my front fence, PM me and I will give you my address so you can come over and watch it dry.

Probably more exciting, ????

[Olmate]

9 minutes ago, Adumbration said:

Actually I find sex clears the mind rather than cloud it.  And it definitely helps with my prostate issues.

Seems not so today ????

[Adumbration]

Ah Ha....finally an economist has announced the opinion I have been posting on here for months.  That the RBA needs to raise harder and faster, that a cash rate north of 5% is needed, and that inflation will be higher and for longer than anyone expected:

 

Economist Steve Miller as advisor at asset manager GSFM said today’s hot inflation data “reaffirms the notion that the RBA’s comparative caution in raising the policy rate was at best premature and at worse egregiously misplaced.”

Mr Miller went on to criticise the Reserve Bank’s failure to raise interest rates fast enough in response to early signs of price inflation after the money printing in response to the pandemic lockdowns.

“The missteps in RBA communication through 2022, including the ’no increase in the policy rate before 2024, have been well documented,” Mr Miller said.

“However, it is more important to recognise that the substantive error that led to that flawed policy communication was the underappreciation of persistence, magnitude, and momentum in inflation. That underappreciation continues.

“It is not clear that the RBA has learnt the lessons of both recent (post-pandemic) history and lessons of decades past (the high and persistent global inflation of the 1970s and, in Australia’s case, well into the 1980s).

“In my view, the RBA should now be possessed of an acute inflation anxiety as it approaches policy determination in 2023 and that a policy rate well in excess of the 3.60 per cent previously implied by domestic interest rate markets may be a more optimal path to long-term sustainable growth in activity and employment.”

[Adumbration]

Top economist Warren Hogan is fuming about today’s inflation numbers and has taken to Twitter to express his displeasure. Mr Hogan also said the Reserve Bank should consider a 40 basis point increase on February 7 in response to today’s data.

 

Absolutely shocking set of inflation numbers just released in Australia. Housing and food up almost 10% over the year. Broad measure of non discretionary items up 8.4%. Major policy failure that can only be fixed with unpopular policy decisions. Sad day for the Australian economy

 

RBA board should seriously consider a 40bp hike at the Feb meeting. They are behind the game and hoping the economy slows enough to bring inflation down. Still solid demand indicators over summer and upside surprise on core inflation suggests the early pivot hasn’t worked

[Fat is a type of crazy]

For those whose retirement plans are primarily linked to wages, such as government employees on a defined benefit, this is not a good situation. Wages up at a significantly lower rate than inflation decreases the worth of what is received on retirement. The Labour party was supposed to be the workers friend but have offered wage increases way below inflation. 

People will say you can't raise wages or there is more inflation.  Other times they say you can't raise wages because it is tough economic times. So workers cannot win and while those on benefits get a full CPI increase, and the sellers of goods I buy increase prices to maintain profits, it's the worker who is supposed to be stoic and cop the brunt. 

So from my selfish opinion bring on rate increases so my savings do better, and inflation comes down faster, and others, such as those with big loans, can bear the brunt. Sick of copping below inflation wage increases. 

Edited January 28, 2023 by Fat is a type of crazy

[Adumbration]

6 hours ago, Fat is a type of crazy said:

For those whose retirement plans are primarily linked to wages, such as government employees on a defined benefit, this is not a good situation. Wages up at a significantly lower rate than inflation decreases the worth of what is received on retirement. The Labour party was supposed to be the workers friend but have offered wage increases way below inflation. 

People will say you can't raise wages or there is more inflation.  Other times they say you can't raise wages because it is tough economic times. So workers cannot win and while those on benefits get a full CPI increase, and the sellers of goods I buy increase prices to maintain profits, it's the worker who is supposed to be stoic and cop the brunt. 

So from my selfish opinion bring on rate increases so my savings do better, and inflation comes down faster, and others, such as those with big loans, can bear the brunt. Sick of copping below inflation wage increases. 

Well written comment.  Thanks for posting.

 

The next meeting in February for the RBA is very critical.  If they fail they pause or fail to raise rates more than .25 basis points it will be absolutely clear they are sacrificing the Australian dollar in favor of trying to avert a residential property collapse.

 

Boomers have the largest voting mandate in Australia and 80% of all politicians have investment properties.  So it is of little surprise that the RBA has sold its sole.  Lowe and his cronies should be in jail.

 

As for the workaday Aussie, things are about to get much much worse.  40% of all residential mortages in Australia are about to reset from covid lows of 2-3% to 6-8%.

 

And, as I have posted here numerous times before, there has not been a single time in recorded economic history were inflation has been brought under control unless the cash rate has been increased to at least the rate of CPI.

 

The CPI print in Australia is already heading for 10% (probably much higher already) and inflation will not be dealt with unless the RBA raise the cash rate greater than 10%.

 

It is also my prediction that inflation will dip a little moving into the end of this year due to easing of supply constraints, but then a second wave will come in 2024.  Inflation is going to be higher and stay there longer than most economists and commentators currently expect.

Edited January 28, 2023 by Adumbration

[Adumbration]

On 1/27/2023 at 10:39 AM, Olmate said:

Seems not so today ????

The Australian dollar got a bump because of the unexpected high inflation print near 10%.  The market is assuming this means that the RBA will raise the cash rate more than .25 basis points at the February meeting.

 

If they fail to do this in the continued, criminal, and retarded attempt to try and save the Australian residential property bubble then the AUD is toast.

[Adumbration]

6 hours ago, Fat is a type of crazy said:

For those whose retirement plans are primarily linked to wages, such as government employees on a defined benefit, this is not a good situation. Wages up at a significantly lower rate than inflation decreases the worth of what is received on retirement. The Labour party was supposed to be the workers friend but have offered wage increases way below inflation. 

People will say you can't raise wages or there is more inflation.  Other times they say you can't raise wages because it is tough economic times. So workers cannot win and while those on benefits get a full CPI increase, and the sellers of goods I buy increase prices to maintain profits, it's the worker who is supposed to be stoic and cop the brunt. 

So from my selfish opinion bring on rate increases so my savings do better, and inflation comes down faster, and others, such as those with big loans, can bear the brunt. Sick of copping below inflation wage increases. 

You cant trust any politicians, regardless of political affiliations.  The real issue here was the criminal act by the Liberals of dismantling Australian unions.  Unions are corrupt also but in their abscence workers have been systematically raped in Australia over the last two decades.

[TimeMachine]

On 1/27/2023 at 10:24 AM, Adumbration said:

I have just painted my front fence, PM me and I will give you my address so you can come over and watch it dry.

In regards to knocking cricket as boring, that's fair enough, so I recommend the game of  Aussie Rules Football to you.

 

[still kicking]

3 hours ago, TimeMachine said:

In regards to knocking cricket as boring, that's fair enough, so I recommend the game of  Aussie Rules Football to you.

 

He is just a troll I just watched T 20 exciting game and yes, I love footy as well 

[Social Media]

Flame removed and responses to it.

[still kicking]

On 10/14/2022 at 9:57 AM, Adumbration said:

There is absolutely no way you can live well in Australia on the OAP unless you have free housing. None whatsoever.

Just for your information the AUD stands at 23.86 baht today 

[Adumbration]

4 hours ago, still kicking said:

Just for your information the AUD stands at 23.86 baht today 

No it doesn't.

[still kicking]

10 minutes ago, Adumbration said:

No it doesn't.

Yes it does just keep posting 2222

[still kicking]

17 minutes ago, Adumbration said:

No it doesn't.

If you think you are so smart, why don't you get a job at the reserve bank? But I guess you need education. 

[Adumbration]

I thought it would be China's move on Taiwan that would initiate the collapse of the Australian dollar.

 

Turn's out it is actually the Ukraine conflict and China's role in it.

 

Very shortly America will impose additional and severe economic sanctions on China.

 

The bulk of most of Australia's exports are to China.

 

The collapse of the Australian dollar is now well on track.

 

 

[still kicking]

1 hour ago, Adumbration said:

I thought it would be China's move on Taiwan that would initiate the collapse of the Australian dollar.

 

Turn's out it is actually the Ukraine conflict and China's role in it.

 

Very shortly America will impose additional and severe economic sanctions on China.

 

The bulk of most of Australia's exports are to China.

 

The collapse of the Australian dollar is now well on track.

 

 

Pull the other leg

.

[Olmate]

2 hours ago, Adumbration said:

I thought it would be China's move on Taiwan that would initiate the collapse of the Australian dollar.

 

Turn's out it is actually the Ukraine conflict and China's role in it.

 

Very shortly America will impose additional and severe economic sanctions on China.

 

The bulk of most of Australia's exports are to China.

 

The collapse of the Australian dollar is now well on track.

 

 

The bulk of most of what you post is incorrect.

[HighPriority]

29 minutes ago, Olmate said:

The bulk of most of what you post is incorrect.

But it is shouted with extreme conviction.

[Artisi]

6 minutes ago, HighPriority said:

But it is shouted with extreme conviction.

Shouted or sprouted, a big difference? 

[HighPriority]

19 minutes ago, Artisi said:

Shouted or sprouted, a big difference? 

Personally I think its typed with 1 hand so spurted would be more (in)appropriate...

B)

[nigelforbes]

12 hours ago, Olmate said:

The bulk of most of what you post is incorrect.

The exports part is correct but the rest of it is nonsense

 

https://tradingeconomics.com/australia/exports-by-

country

 

As for why AUD "collapsed"....it's a USD story, just as it has been with every other currency last year, it's got sod all to do with China, Ukraine, Taiwan or the number of penguins in Antarctica.

 

https://www.abc.net.au/news/2022-10-10/asx-australian-dollar-wall-street-us-rate-hike-recession/101517662

Edited February 25, 2023 by nigelforbes

[thaibeachlovers]

On 10/13/2022 at 6:21 PM, Sparktrader said:

Hit 31 baht per aud. But Thailand prices hardly changed in 10 years. 500 baht room still 500 baht. 40 baht noodle now 50 baht.

 

35 baht train 

 

 

That 50 baht meal was about 25 baht 40 years ago. Seems the Thais have done quite well for themselves in comparison to western countries.

[thaibeachlovers]

On 10/13/2022 at 4:37 PM, Adumbration said:

A policital decision to try and prevent total collapse of Australian property market. 

Speaking as one that is suffering because the housing market is out of control with regard to increasing prices to buy/ rent, and in a country where people are living in cars or motels ( at taxpayer expense ), a collapse in the property market would be a very good thing, IMO. If so called investors ( IMO gougers ) lose out, I would not lose any sleep over that.

[Artisi]

2 hours ago, thaibeachlovers said:

That 50 baht meal was about 25 baht 40 years ago. Seems the Thais have done quite well for themselves in comparison to western countries.

40 years ago today's Bht 50 meal was Bht 5, 20 years ago Bht 10/ 15.