steve_kelly_and_boys

this is what
the worst in ten years or the worst ever ?

aliread

umm with the help of the unions

MartinLuther

I think it's fair to say that if the mining industry was still going in the UK the country would still be in trouble. Although they may have been reaping the rewards of a low exchange rate now, uncompetitive mining would have sucked tonnes of money out of the system for the last 25 years (as it was before that). Money better spent else where. Shame they decided to spend some of it propping up Rover for so long.

Not sure where people think money comes from but I can tell you the government doesn't make it* and it doesn't come from subsidies. It has to be made from work, enterprise and materials. (Of course, Robbie Williams makes it by singing, but that's a different story )

* They can make more notes but that is not the same as making more money.

koalakim

Talking of Robbie Williams - I see he wants to live down under because his new wifey had a premonition about it. Bet he won't have to jump through the hoops most of us had to to get the visa

Mind you even his millions will be worth a lot less now if he comes here.....so it's not just us with our few quid.

However a too strong $ for the Aussies will bite soon - no migrants, no tourists, exports expensive. Shame the only thing the UK has to export now is it's people.

I think I'll just give up looking - it's getting too depressing.

koalakim

Going back to the post with the link to the housing data on it....it's very true what they are say. People sell houses for lots of different reasons and part of the prices dropping were those people who had to sell.

We sold our place pretty quickly in two months - we had a few offers but just stuck it out and then one of them offered a bit more so weighing it up we felt it was reasonable in the current climate and the situation we were in.

So you could say even in the good times housing data is never accurate anyway.

Made me laugh about the Brits being obessed about house prices - blimey they should come here. Aussies are even worse - they go into mass panic if the auction (or oction) clearance rates drop a tad one week!

nigel and wendy

i hate to post this guys but.......

http://www.theage.com.au/business/rb...0917-ftot.html

*snipit*
THE global financial crisis has delivered the Rudd Government an unprecedented windfall in the form of massive Reserve Bank profits that will slash billions from the budget deficit.

The Reserve Bank has handed Treasurer Wayne Swan a record $5.2 billion in August as a partial payment of its 2009-10 dividend, well up on the $1.4 billion it handed over as a full payment the year before. A further $750 million will be delivered in 2010-11.

This will make a huge dent in the budget deficit, forecast in May to blow out to a record $57.6 billion. With another $6 billion boost from better than forecast tax revenues as a result of the faster than expected recovery, this figure is set to be revised to somewhere between $40 billion and $50 billion when the forecasts are updated in December.
*end snipit*

i`m no economist,but i think this will only help the A$ get stronger,what with the gorgon gas project and other mining projects firing up.
theres alsoreports that consumer credit is being paid at a faster rate as well.

MartinLuther

That's a bit of a result.

Swerv-o

I must profess to having been sceptical of the government's stimulus plan, and thought that it really should have been targetted at small business etc.

However, there are indications that it has been more successful than I would have thought, particularly this latest bit of good news.


S

nigel and wendy

thats not nice .........its is for us in oz,and for peeps coming over who have already changed there money.

nigel and wendy

agreed ...........oz seems to be doing what the uk should have done 18 months ago,instead of waisting tax payers money bailing banks out (one of the reasons i left).

Swerv-o

Personally, I was more in favour of giving tax relief to small businesses on the proviso that they retained staff. I also think that some of the handout money could have been better spent too.

Still, it's the end result that matters, and things are starting to look up.


S

asprilla

The AUD is a pretty small currency compared to others across the globe.

I've got no doubt that the good things happening inside Oz do have a small impact on the AUD value, but I reckon that it is largely at the mercy of the strengths/weaknesses of the other, bigger currencies.

nigel and wendy

yea i know where you are coming from,i`m not a big fan of of the FHBG,(bear mode on )its just artificailly inflated house prices to a daft level ! which will hopefully correct as i`m looking to buy (bear mode off) but i suppose its kept the tradies alive.

as you say ,its the end result that matters

nigel and wendy

as i said i`m no economist !! i just look at what goes on around the world and it seems to affect things currencie wise ! it seems the bigger currencies are tanking though ,GB pound prinitng press`s still running,US dollar falling etc etc.......i`m getting in above my head now

i feel for a lot of peeps in this thread though...........its very stressful trying to decide "should i sell pounds or wait"..........it did my head in for a couple of months !!

MartinLuther

I did hesitate before posting. However it is good news even for those coming as it means there'll be less pressure to raise taxes to pay the debt. Something like 20% of the debt repayment has appeared out of left field. It's a good result.