Australia $ Value, Economic Direction?

Very true. There's also a bit of mythmaking going on. The economic credentials under the last Liberal government were poor for the time. However, the times were very good externally and hence government dividends were good. Just like investing in shares, it's easy to be a winning stock selector when the market's up overall. The true mettle is when the market's down. Some seem to think market = investor!

Appreciate the added comments and insights. Personally, I am very interested and love to engage in political "debate" and discussions. BUT, we have to "follow the rules" for these boards in not going there. I will follow with interest how your election battles play out in the next five months, but discussions here need to focus on cruises and certain of those indirect issues such as costs, currency values, etc., that impact our upcoming trips.

Australia and NZ have unique resources, histories, challenges, economics, etc., compared to other parts of the world. It's been fun to be reading and learning more on how all of those factors have played out and create the current situations in both countries.

THANKS! Enjoy! Terry in Ohio

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 129,387 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

Yes, that is why I do not talk politics or religion. I think optimism is a much better way of life when thinking about what may or may not happen in the future. When life gives you lemons, make lemonade.

BTW, dollar dropped again last night, down to $100.88 USD.:D

If our economy wasn't that good, we wouldn't have attracted so many new ships here. Nor had so much of an increase in cruisers locally that's brought the foreign lines here. Nor had so many Aussies able to travel overseas on holidays as they are.

 

Times have been good! Will they stay that way...?

I think one of the biggest reasons that ships have been attracted downunder is the wealth of our Senior Citizens.

They have the time and resources to cruise, whether it be self or government funded.

Where else in the world are Seniors so lucky?

The cruise lines are just chasing those discretionary dollars.

I think one of the biggest reasons that ships have been attracted downunder is the wealth of our Senior Citizens.

They have the time and resources to cruise, whether it be self or government funded.

Where else in the world are Seniors so lucky?

The cruise lines are just chasing those discretionary dollars.

 

Yes, the baby boomers have money to spend and they want a piece of it.:D

Baby Boomer, that's me, retired at 55 and been cruising and travelling for the last 10 years. You cannot use that Visa Card in heaven.

Adventure before Dementia ! Spend Kids Inheritance and all that. LOL.

Spend Kids Inheritance and all that. LOL.

Yes, I should have said the SKIers were enjoying themselves to the max.:D

My father has finally joined that group, had absolutely no interest in travelling the world, yet we scoured every inch of Australia growing up. Now he's retired he suddenly has a thirst for adventure, and is setting off in June over to Europe for the first time, loading his touring motorbike onto a ship and picking it up in the UK. Doing the LeMan's, then biking around the UK and Europe, and has somehow managed to get an invite to go yaghting in Turkey! All this from a man who said there was no point in ever leaving this country :rolleyes:

I've very proud of him for expanding is horizons, but I think I have to forget the idea of ever getting an inheritence ;):p

My father has finally joined that group, had absolutely no interest in travelling the world, yet we scoured every inch of Australia growing up. Now he's retired he suddenly has a thirst for adventure, and is setting off in June over to Europe for the first time, loading his touring motorbike onto a ship and picking it up in the UK. Doing the LeMan's, then biking around the UK and Europe, and has somehow managed to get an invite to go yaghting in Turkey! All this from a man who said there was no point in ever leaving this country :rolleyes:

 

I've very proud of him for expanding is horizons, but I think I have to forget the idea of ever getting an inheritence ;):p

Yes, but then you never know what is around the corner in anycase. At least he is enjoying himself. :D

I have been encouraging all my older relatives to go out and travel and spend their money. It is thanks to me that my grandparents started cruising and it was only after I went on one first and gave them computers, internet so they could discover more about it. Its better to enjoy your own money rather than some fat-cat banker or financial guru "stealing" it in the GFC.

Come September I will be very happy to vote out one part and get back in the true professionals. Australias boom times for me and my cruising was money earned and saved prior to when the current goverment came into power. Ever since savings and ability to earn have taken a tumble compared to pre 2007.

Ever since savings and ability to earn have taken a tumble compared to pre 2007.

If you can cast your mind back to 2007/8, a thing begun called the GFC.

It all began in the US. Not here, but you can blame the current Govt if it makes you feel better.

Honesty, where people in australia really that badly affected in the gfc. I could understand if you lost your job. But even though super funds took a hit most have bounced back. Not to the highs pre gfc. But mine returned 11 percent last year

Well!

After the original posts, the Australian unemployment rate for April was announced. it was lower than the previous month, so the idea that the Australian economy is about to go soft is not so likely now.

But with respect to cruises - tipping is just not done, unless your service staff perform the impossible! The prices for food are higher here, but so are the wages in the hospitality industry.

Australia is a very carefree and safe country, so enjoy your shore excursions!

As for our political situation, the differences are not as real as many like to imagine. The major parties huff and puff, and try to pretend everything will be different, but the numbers say something quite different!

 

As for our political situation, the differences are not as real as many like to imagine. The major parties huff and puff, and try to pretend everything will be different, but the numbers say something quite different!

Couldn't agree more!

Honesty, where people in australia really that badly affected in the gfc. I could understand if you lost your job.

People were losing their jobs, including many in the mining industries.

Then there was a lot of government stimulus that boosted domestic confidence to reduce the number of layoffs, Chinese demand picked up and mining recovered. However, the rest of the global economy has remained in the doldrums so there's a lot of gloom that kept everyone cautious. So while there weren't a lot more layoffs in general, there wasn't a great deal more hiring either. It's at a degree of equilibrium.

People were losing their jobs, including many in the mining industries. Then there was a lot of government stimulus that boosted domestic confidence to reduce the number of layoffs, Chinese demand picked up and mining recovered. However, the rest of the global economy has remained in the doldrums so there's a lot of gloom that kept everyone cautious. So while there weren't a lot more layoffs in general, there wasn't a great deal more hiring either. It's at a degree of equilibrium.

Appreciate the various added insights and comments that help "educate" me on the various aspects of the Australia economy. The latest Aussie dollar is shown at $1.0014 this morning in the Wall Street Journal. Glad, for us, that things are moving in the "right" direction to help our US dollars buy more when we visit down under in early 2014. Obviously, what is "right" for us, might not be best for everyone. From following these issues, I now have a better idea for what has been happening recently with their economy. It will be interesting to see if and how their September elections affect these currency values.

From this original post I made on the Aust.-NZ board that attracted lots of comments from Aussies, this item was shared by Blue Elephant and I have posted it on our roll call: "with respect to cruises - tipping is just not done, unless your service staff perform the impossible! The prices for food are higher here, but so are the wages in the hospitality industry. Australia is a very carefree and safe country, so enjoy your shore excursions!"

I like that term "very carefree and safe"!! Very good and encouraging. Appreciate these various added background items and information.

From The Australian newspaper yesterday, they have this headline: "WA jobless reflects slower economic growth" with these highlights: "Unemployment in Western Australia has jumped above five per cent for the first time since February 2010 but the state still has the nation's lowest jobless rate. Last month, 5.2 per cent of people in WA didn't have a job, up from 4.8 per cent in March. It is a substantial jump considering the state's unemployment rate a year ago was 3.7 per cent. Western Australia still has the lowest jobless rate in Australia, slightly ahead of NSW at 5.3 per cent. Premier Colin Barnett admitted some of the heat had come out of the WA economy, particularly in the mining sector. 'While the WA economy is still growing faster than any other state, the pace is slowing from peak levels and that is reflected in the higher than anticipated increase in the unemployment rate for April,' he said."

Full story at:

http://www.theaustralian.com.au/news/breaking-news/wa-jobless-rate-up-still-nations-lowest/story-fn3dxiwe-1226638644409

THANKS! Enjoy! Terry in Ohio

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 5,089 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

Unemployment rates are not as simple as 5% not working. It is a bit more complicated one aspect is that they are looking for work and only then it is considered, if they are a couple that both are not in work. For instance, if you are working and your wife isn't but wants to, then she is not considered out of work.

There are a few more anomolies as well.:D

From The Age in Melbourne tomorrow morning, they have this headline: "Aussie dollar slumps below parity" with these highlights: "The Australian dollar briefly fell below parity with the US dollar early Saturday, ending a nine month run where the local unit has traded above its US counterpart. The Australian dollar fell to a low of 99.61 US cents during the New York session, before a late gain pushed the dollar back above parity to close the session at 100.25 US cents. The dip below parity caps off a wild week for the Australian dollar, which started trading Monday at 103.15 US cents. While the dollar last broke parity in June, the Australian dollar has mostly traded above 100 US cents since early 2011, which has put the squeeze on export-oriented industries. The latest moves are largely driven by renewed strength in the US dollar amid signs of confidence over the strength in the world’s largest economy. Currency strategists, meanwhile, expect the Australian dollar to remain under pressure as the mining boom peaks, the Chinese economy maintains its weak outlook and the US economy recovers."

Full story at:

http://www.theage.com.au/business/markets/aussie-dollar-slumps-below-parity-20130511-2jeaw.html

THANKS! Enjoy! Terry in Ohio

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 129,452 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

Unemployment rates are not as simple as 5% not working. It is a bit more complicated one aspect is that they are looking for work and only then it is considered, if they are a couple that both are not in work. For instance, if you are working and your wife isn't but wants to, then she is not considered out of work.

There are a few more anomolies as well.:D

Hi Mike

I am fairly sure that the scenario you are talking about (husband working, wife not working but wants to) works differently depending on whether you are looking at Centrelink benefits or the ABS unemployment statistics.

Wife would not be eligible for Centrelink unemployment benefit, but would be included in the monthly unemployment rate as long as she answered the questions that indicated she was actively looking for work.

How is all this related to cruising other than impact on prices of cruises purchased in the US.

So if the A$ is going down (and I think it is) You should pay up asap if you have a booking priced in US$.

With the dollar being high, and if you were planning to cruise overseas , say next year , is there anywhere you can buy your funds and put them on deposit till needed, without losing heaps in fees, and perhaps being paid a little bit of interest?

With the dollar being high, and if you were planning to cruise overseas , say next year , is there anywhere you can buy your funds and put them on deposit till needed, without losing heaps in fees, and perhaps being paid a little bit of interest?

yes, you can buy a "Cash Passport" card. Nominate whatever currency you want and the money is basically "parked" in that currency. But sorry, no interest earned. But no ongoing fees either, you only pay when you withdraw. Banks sell them, t/a sell them. It's a modern version of Travellers Cheques.

yes, you can buy a "Cash Passport" card. Nominate whatever currency you want and the money is basically "parked" in that currency. But sorry, no interest earned. But no ongoing fees either, you only pay when you withdraw. Banks sell them, t/a sell them. It's a modern version of Travellers Cheques.

Aren't they are really only good for a year though.:D

Each card has a few years life on it.

Each card has a few years life on it.

Thanks:D

From Wall Street Journal last night, they have this headline: "Currency Investors Turn to Unlikely Pair" with these highlights: "Investors bracing for slower growth in China are turning to a formerly little-used currency trade: selling Australian dollars and buying Mexican pesos. The bet is that Australia's economy, and its currency, will suffer as Chinese demand cools for raw materials like iron and coal. Mexico, with closer ties to the resurgent U.S. economy, is seen as more insulated if commodities prices fall. With interest rates near zero in most developed countries, heavily traded currencies like the dollar, euro and yen offer little or no returns. Investors are getting more creative about what they buy and sell. In the case of the Aussie and peso, that means embracing the extra risk that comes from trading two traditionally volatile currencies against each other. Investors said Australia and Mexico act as proxies for the diverging fortunes of their two biggest markets, China and the U.S. As China begins to pivot toward an economy that is driven more by domestic demand and less by exports and infrastructure spending, its appetite for raw materials is expected to slacken, denting the prospects for Australia's mining-heavy economy." Right now the Wall St. Jour. has cost of an Aussie dollar down to $0.9880.

Here are some added insights into the economy for Australia from this WSJ analysis: "IFor most of the past decade, Australia's reliance on China was viewed by investors as a reason to buy the country's currency. Australia's trade with China exploded over the past decade, with exports rising from $8.8 billion in 2001 to $77 billion in 2011. Natural resources such as iron ore and coal account for more than 80% of the country's sales to China. Booming resource exports helped Australia avoid a recession in 2008, and its central bank kept interest rates relatively high as other developed countries cut rates to near zero. But mining exports have slowed in the past year, and the strong currency has hurt tourism and other industries. On May 7, the Reserve Bank of Australia cut interest rates to a record-low 2.75% and warned that the Aussie's high value was limiting growth. The net bet on a stronger Australian dollar has plunged about 90% in the past month, according to the Commodity Futures Trading Commission."

From the Financial Review in Australia during the past hour, they have this headline: "Dollar dip boost for tourism groups" with these highlights: "The tourism industry is breathing a sigh of relief as the dollar dips below parity with the US dollar, but it needs to fall further to change the spending patterns of overseas visitors, they say. Visitors spend less and stay for shorter periods when the dollar is high. Tourism Australia managing director Andrew McEvoy said a 'slight fall' in the Australian dollar would be *welcome news to many international visitors. 'However, a few cents drop in the exchange rate doesn’t change the broader picture. The Australian dollar is still strong, this is not new and is something our industry is adapting to,' Mr McEvoy said. Tourism and Transport Forum’s Rowan Barker said spending was 'below what you would hope' due in part to the higher dollar. 'It has massively impacted on the buying power of particularly European and US travellers . . . they are opting for different accommodation options, they are opting for different attractions and entertainment options,' he said. Mr Barker said the dollar had been steady against the Chinese yuan, and Chinese visitors were propping up the entire tourism industry, with the fastest growth and highest spend per head. Australian Industry group chief executive Innes Willox welcomed the dollar’s move below parity. 'Even slight movements downwards in the dollar are welcome because they affect investment decisions, they affect buying decisions and they affect immediate business conditions,' Mr Willox said. He said the two years of the dollar at above parity has forced painful adjustments and job losses. 'Australian industry generally is competitive at about US88¢,' he said."

From those who live and work in Australia, do certain of these points and details seem on track and true? Other factors to consider as we plan for our Jan. 20, 2014, Solstice sailing from Sydney to Auckland?

Full stories at:

http://online.wsj.com/article/SB10001424127887324031404578481292791345084.html?mod=WSJ_hps_LEFTTopStories

http://www.afr.com/p/national/dollar_dip_boost_for_tourism_groups_G4FiOPuufNP5mS8Yo7KCsL

THANKS! Enjoy! Terry in Ohio

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at 5,588 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477