Stupid Australian $

[GoktimusPrime]

Their economy is also heavily reliant on exports which are suffering under the inflated yen.

[kup]

The good news is that the dollar has been making its way back overnight (if slowly). I am waiting to see what happens tomorrow before I make payment on an ebay auction I won yesterday.

[MV75]

I am under the impression that the Japanese Yen is a very safe and strong because they have a very self reliant economy

The Japanese have to import everything to then manufacture it into items. They are very very dependant on imports and would collapse without them. Self reliant is a joke phrase to use with them. Heck, they even ran out of butter of all things last year.

The strongness of the yen is unsustainable under current government practices.

http://en.wikipedia.org/wiki/Japanes...t_price_bubble

As for us, it's all media driven. I'm at the "gates" to retail and building every day and there is no shortage of spending going on at all. People are buying more than ever.

[Lord_Zed]

Yeah I heard the Japanese government was pushing a plant to lower the value of the Yen as part of thier economy resuce plan, but there's be no concensus just like America and most of the world for matter. Everyone says something has to be done but no one can agree on what.

[GoktimusPrime]

The Japanese have to import everything to then manufacture it into items. They are very very dependant on imports and would collapse without them. Self reliant is a joke phrase to use with them. Heck, they even ran out of butter of all things last year.

The Japanese economy is strong because suckers like us sell them raw materials which they manufacture into finished products and sell back to us at multiple times the value of the materials that the bought! The Australian economy is too reliant on primary industries IMHO.

[Golden Phoenix]

The Japanese have to import everything to then manufacture it into items. They are very very dependant on imports and would collapse without them. Self reliant is a joke phrase to use with them. Heck, they even ran out of butter of all things last year.

The strongness of the yen is unsustainable under current government practices.

Ah. Thanks.
Funny that they ran out of butter.

Saw this and couldn't stop laughing

[MV75]

The Japanese economy is strong because suckers like us sell them raw materials which they manufacture into finished products and sell back to us at multiple times the value of the materials that the bought! The Australian economy is too reliant on primary industries IMHO.

Their economy is not strong, an economy based economy is doomed to failure. They don't produce anything without the reliance upon imports. We produce materials/goods that the world needs, japan doesn't. Having a primary industry that you can sell to the world without reliance upon that world to produce the materials/goods is a great thing.

Also, we are the world leaders at alternative energy research amongst other intellectual properties in the medical fields. Just a shame they sell out to the californians.

Plus we have a strong service based side to our economy as well.

Either way, China/India is the future.

[GoktimusPrime]

Golden Phoenix: There's something I'd like to say, but I'd be violating the board rule about no political discussions.

MV75: But investors perceive it as a strong economy and reliable currency and that's enough to keep pumping the value of the JPY, even if it's not really "worth it."

Also, we are the world leaders at alternative energy research amongst other intellectual properties in the medical fields. Just a shame they sell out to the californians.

That's pretty much what I'm saying is the weakness of our economy - we keep letting foreigners take our profits. (-_-)

[Golden Phoenix]

Golden Phoenix: There's something I'd like to say, but I'd be violating the board rule about no political discussions.

PM me if you want.
If it is a problem, I do say a lot of things in jest, so if I offended you, or anyone, I'm sorry. Just ask and I'll remove whatever it is. I won't take it personally
If it is a joke, I'm always up for a laugh

[STL]

As for us, it's all media driven. I'm at the "gates" to retail and building every day and there is no shortage of spending going on at all. People are buying more than ever.

Have to completely disagree with you. I have friends who are accountants for the top accountancy firms in Australia. Their figures reveal the truth. I agree that the media does create a frenzy but it's naive to think that at this point there are more people buying than ever. Retail sales will be hit very hard in coming months and given the worse is still to come, there will be a nasty vicious cycle that will take its toll on the economy.

With more rate cuts, that makes me expect the AUD to drop a bit more. I'm not sure how much but if we reach US rate levels, our AUD could flop a great deal.