I think sometime back australian dollar was 50% less than USA dollar. So now Australian are 50% more richer than American.
Mining fever down there. They have their own bubble problems going on at this point, yet when you talk to your average Aussie they get a bit defensive and self-righteous about all of it. On the other hand, there are quite a number of countries that look far better than the US these days. Quite a change from a decade or so ago.
it was like 1 AUD = 0.50 US Dollar Cent a year ago? now 1.00 AUD = 1.0716 USD, also canadian Dollar is now higher than USD, for australians is Cheap to come over to USA but that a big question mark about the economy.
The Australian dollar is just one of many speculative bubbles around at the moment. It will unwind in due course. 4.75% overnight cash rate in Australia; 0% in the US. Where would you rather park money? (The average Aussie has shit for brains when it comes to economic literacy. They know about nothing except football, brawling, glassing and passing out.....then they getting a tattoo on their head!) Think I'm joking?
Australia's top 10 two-way trading partners and Australiaâs top 10 exports, goods & services Well if you're in the Chanos camp and believe China's bubble is going to burst, then the Aussies will get hit hard. I wonder how much of an impact the situation in Japan has hit them so far.