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04 November 2010, The Day The Aussie Dollar Shows Its Strength


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I just had to post this topic, happy days for Aussies living in Thailand for sure.

Date 04 November 2010 Time 16:46:10 Round 4 Kasikorn Foreign Exchange Rate:

USD 50-100=29.29

AUD=29.365

Sure the outlook for the baht is that it will keep getting stronger, but for the time being so will the Aussie $.

Edited by patongster
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I wouldn't worry about tourism, its well made up for by the offset in the price off all the goodies in the ground, uranium etc, how many reactors are there in the US now? whistling.gif

The rising dollar makes the value of our resources decrease...since we charge in USD. Nickel for example has been rising in US$/tonne, but the AU$/tonne converted price is almost stable - sad.

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I wouldn't worry about tourism, its well made up for by the offset in the price off all the goodies in the ground, uranium etc, how many reactors are there in the US now? whistling.gif

The rising dollar makes the value of our resources decrease...since we charge in USD. Nickel for example has been rising in US$/tonne, but the AU$/tonne converted price is almost stable - sad.

I think its the falling US dollar not the rising AUS dollar see QE2 Edited by knehredlum
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What a misleading topic, there was nothing special about AUD on 04 November 2010, it is only USD that keeps falling down against all currencies and for sure no "happy days for Aussies living in Thailand", just an average exchange rate...

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Congratulations Aussies!

BTW, hows that Yank tourism promotion going now?

Put another shrimp on the barbie, but if you have to ask how much the shrimp is, you can't afford it!

Love it!!!!

By the way the AUD was higher than the USD a few weeks ago, who knows how long it will stay this way. I'm selling into Oz now starting to think maybe I charge AUD instead of USD.

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AU$ may get even stronger in the next few days/months because Oz has just put up interest rates and US is about to inject another $600 billion not $500 as originally planned.

The only question i have to ask is how hard will it fall when things turn around for US

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Love it!!!!

By the way the AUD was higher than the USD a few weeks ago, who knows how long it will stay this way. I'm selling into Oz now starting to think maybe I charge AUD instead of USD.

no fairy tales please! <_<

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AU$ may get even stronger in the next few days/months because Oz has just put up interest rates and US is about to inject another $600 billion not $500 as originally planned.

The only question i have to ask is how hard will it fall when things turn around for US

Well, this is a pattern that will continue. The $US dollar will not bounce back, neither will the UK pound. This IS the change in the world order that's been talked about for the past 10 years. Watch China and other Asian countries. The Aus dollar is reflecting the re-alignment. Have a read of Samuel P. Huntingdon's book on the new world order. Its happening and he said it 10 years ago. I think its good news. Also have a look at the UN publication released today on human development, particularly the projections for the next 20 years.

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AU$ may get even stronger in the next few days/months because Oz has just put up interest rates and US is about to inject another $600 billion not $500 as originally planned.

The only question i have to ask is how hard will it fall when things turn around for US

Well, this is a pattern that will continue. The $US dollar will not bounce back, neither will the UK pound. This IS the change in the world order that's been talked about for the past 10 years. Watch China and other Asian countries. The Aus dollar is reflecting the re-alignment. Have a read of Samuel P. Huntingdon's book on the new world order. Its happening and he said it 10 years ago. I think its good news. Also have a look at the UN publication released today on human development, particularly the projections for the next 20 years.

Not everybody agrees with this:

http://www.nytimes.com/2010/04/06/opinion/06brooks.html?_r=1&emc=eta1

Excerpts:

The United States already measures at the top or close to the top of nearly every global measure of economic competitiveness. A comprehensive 2008 Rand Corporation study found that the U.S. leads the world in scientific and technological development. The U.S. now accounts for a third of the world’s research-and-development spending. Partly as a result, the average American worker is nearly 10 times more productive than the average Chinese worker, a gap that will close but not go away in our lifetimes.

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Partly as a result, the average American worker is nearly 10 times more productive than the average Chinese worker, a gap that will close but not go away in our lifetimes.

and the average U.S. fairy tale is 10 times more "fairier" than the average Chinese fairy tale :lol:

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The NZ$ is keeping pace with the OZ$ and is up against the Baht great stuff.

Really shows how far the US has gone down since 2008 when the following study was done.

The United States already measures at the top or close to the top of nearly every global measure of economic competitiveness. A comprehensive 2008 Rand Corporation study found that the U.S. leads the world in scientific and technological development. The U.S. now accounts for a third of the world’s research-and-development spending. Partly as a result, the average American worker is nearly 10 times more productive than the average Chinese worker, a gap that will close but not go away in our lifetimes.

Must be pretty competitive on the 'war spending' front as well.

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Oh the times they are a changin! This is the beginning of a larger world change. For those interested read the latest UN report on human development out yesterday, particularly the projections for the next 20 years, fascinating stuff. USD and the pound will continue down. This is not another cycle, its here to stay.

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Partly as a result, the average American worker is nearly 10 times more productive than the average Chinese worker, a gap that will close but not go away in our lifetimes.

and the average U.S. fairy tale is 10 times more "fairier" than the average Chinese fairy tale :lol:

At times. But automation is an integral part of manufacturing in the US. In China, it's mostly manual. I was there a few years ago, watching them build a road. The boulders were being broken by hand with relatively small hammers and chisels. I mean boulders as big as a car. The rubble was carried by hand to a small truck. Can't imagine how long it would take them to finish it. In the US, it would be all done by machines.

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automation is an integral part of manufacturing in the US

that's overall productivity and does not justify a comparison of "average worker productivity".

Now don't get technical on me. My first career was as a programmer developing corporate and sales forecasting models for Herman Miller. Extremely complex, in COBOL and run on a mainframe. Showing my age now. Then I developed productivity models for their manufacturing line. Showing productivity gains via use of their products. Then majored in corporate finance and statistical research for my MBA. Worked for Knapp Communications (Architectural Digest, Bon Appetit, etc.) for several years doing their corporate and sales forecasting. I got smart and moved into the sales side of financial modeling software...tripled my income and didn't have to sit and look at a terminal all day. I don't normally tell people my accounting and econ background. Not many folks are interested in that! :whistling:

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i am very much impressed and totally flabbergasted Craig because i neither have an accounting background nor an MBA degree. however, i still don't see a connection between your professional experience and the productivity of the "average chinese worker".

B)

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Partly as a result, the average American worker is nearly 10 times more productive than the average Chinese worker, a gap that will close but not go away in our lifetimes.

and the average U.S. fairy tale is 10 times more "fairier" than the average Chinese fairy tale :lol:

At times. But automation is an integral part of manufacturing in the US. In China, it's mostly manual. I was there a few years ago, watching them build a road. The boulders were being broken by hand with relatively small hammers and chisels. I mean boulders as big as a car. The rubble was carried by hand to a small truck. Can't imagine how long it would take them to finish it. In the US, it would be all done by machines.

Does make you wonder............

Of course if I am the worker I would prefer a big old machine myself but...............

To say because of automation...the average American worker is nearly 10 times more productive than the average Chinese worker

It does not look at the whole picture. If you figure the costs of that productivity.

How much does the machinery amortize out to per job? How much is the fuel & maintenance costs?

Could be the reason why so many Chinese are now working & so many Americans are not.

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It is an amazing sight to see, I wonder how long it will last or if it will go further.

Baht exchange rate is roughly the same as it has been for a few years. In fact five years ago I remember 31. Nevertheless, it's a real result when you consider pound, dollar, euro.

Lucky old Aussies !

It may well last a couple of years too.

USD could really tumble.

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i am very much impressed and totally flabbergasted Craig because i neither have an accounting background nor an MBA degree. however, i still don't see a connection between your professional experience and the productivity of the "average chinese worker".

B)

I think you read too much into my reply...maybe an MBA degree would have helped? :(

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It is an amazing sight to see, I wonder how long it will last or if it will go further.

Baht exchange rate is roughly the same as it has been for a few years. In fact five years ago I remember 31. Nevertheless, it's a real result when you consider pound, dollar, euro.

Lucky old Aussies !

It may well last a couple of years too.

USD could really tumble.

, it was

It was only 2 years ago that the $AU was at record lows to the Thai baht, $1=20 baht, today its $1= 30.046, Quite a nice turn around.

I agree I am in China now and the Aussie worker is 10 time more productive than the Chinese worker. But that is mainly down to the eduction systems. The Chinese aren't trained to think laterally, that is to problem solve. So any problem stops production.

A quick story on automation. When I worked for GM Holden, workers in the weld shops complained about the heat in the summer, the company didnt like the regular stops of production for heat relief, so automated the weld shop, but then the robot couldnt work in the extreme heat and the factory had to be airconditioned. The end result millions spent on automation and airconditioning, hundreds of jobs lost, and no nett increase in production.

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i am very much impressed and totally flabbergasted Craig because i neither have an accounting background nor an MBA degree. however, i still don't see a connection between your professional experience and the productivity of the "average chinese worker".

B)

I think you read too much into my reply...maybe an MBA degree would have helped? :(

i will consider it :lol:

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