Re: Recession
 

Europe is the big worry. Strap your seatbelts on. I think the next 12 months will be a doozy.

Australia is one of the strongest economies in the world but events beyond our control in Europe will affect us. selfishly I am very glad to be here, but I take no pleasure in the state of European economies.

Re: Recession
 

Be careful about subscribing to the "Eurozone is doomed" theory. Data out today shows France hanging in there (ie. not in recession) and Germany still roaring ahead. Even the Eurozone as a whole is not yet in recession.

But if you believe the Tories it's the Eurozone dragging the UK down :huh:

Blighty has plenty of problems (and debt) of its own without needing to look across the Channel

Re: Recession
 

Looks like the UK was right to stay out of the Euro.

Re: Recession
 

Wait and see when the OZ dollar is .60 to the US $:sneaky:


just saying ......

Re: Recession
 

isnt that what the exporters are hoping for?

(FYI the average rate in the past decade or so was 70-80 US cents)

Re: Recession
 

When the pound was 2.20 I predicted 1.5 and got same response.

Lets see in 9 to 12 months:D

Re: Recession
 

not good for o/s travelers and online shoppers but could be good for local industries.

Re: Recession
 

France is considered to be doomed because they have lent so much to Spain, Italy, etc.

When Greece goes down, the other PIIGS are in the direct firing line, and with them France as the paymaster.

Kicking Germany out of the Euro for six months, and redirecting QE money to new exporting business creation, seems to be the best route out for the EU.

Re: Recession
 

Europe is collapsing very soon, and now my country wants to be a part of it. What idiots of politics we have in past 20 years. I don´t think AU is in recession, as the matter of fact, I wanna immigrate downunder since childhood.

Re: Recession
 

I'd cope ;)

Re: Recession
 

It's been there before - and worse.

We'll manage.

Re: Recession
 

I think I remember sub-50 cents about 11 years ago? Bizarre to think it. And most of us will feel like we've taken a massive pay cut if it comes to that

Re: Recession
 

And it was 60c 3.5 years ago...

Re: Recession
 

gosh i remember converting my USDs into AUDs that time! :D

if that happens again, the exporters will be very happy :thumbsup:

Re: Recession
 

The problem is its only mining that really exports anything, the high dollar decimated what was left of manufacturing.