Australia $ Value, Economic Direction?

[MicCanberra]

That's what I said -- it has been a long SIX years! :) -and it has been very confusing over those six years . I just can't keep up with who is what Minister of State for what portfolio. Talk about a total shemozzle! :)

 

Barry

But 2010 is only 3 years ago.:confused:

[MicCanberra]

I don't believe the rate decision will be coloured by whether the election is called or not.

 

Odds are you are correct, but due to not knowing when the election was going to occur meant that businesses were waiting (another reason why the economy was slowing down).

Now we are in caretaker mode, these important decisions will only need to wait another month until the result is known and how the particular policies will affect them. :D

[mr walker]

Strewth, I think it is going to be a very long 33 days :)

 

I will make only one comment and then will sit back and wait the 78 days to our cruise:

 

I hope that whichever 'team' is elected has a majority in it's own right - this country cannot afford another 3 years of minority government. I fear though that this will not be the case.

 

Happy cruising.

[MicCanberra]

Strewth, I think it is going to be a very long 33 days :)

 

I will make only one comment and then will sit back and wait the 78 days to our cruise:

 

I hope that whichever 'team' is elected has a majority in it's own right - this country cannot afford another 3 years of minority government. I fear though that this will not be the case.

 

Happy cruising.

Sounds like a very good idea, :D

[bazzaw]

Tony Abbott has already said that he will not be the Prime Minister of a minority Government. I note that Kevin Rudd has not made such a statement. I think that, like Julia, power at any price is more his line of thinking.

 

Talking about minority Government, seeing as how Independents will probably not be so involved this time, I am wondering how the leftest of the left wingers/Greenies will place their second preferences this time around. I can imagine that they would rather cut off their right hands than give it to Kevin Rudd -- what with Manus Island and all. :)

 

Barry

[Jacs]

Thank god for the Palmer United party then, gives everyone a legitimate option for preferences :D

[The_Big_M]

Odds are you are correct, but due to not knowing when the election was going to occur meant that businesses were waiting (another reason why the economy was slowing down).

Now we are in caretaker mode, these important decisions will only need to wait another month until the result is known and how the particular policies will affect them. :D

 

The rate decision isn't affected by "businesses waiting."

 

And it'd be only in some issues where there is a difference of policy that a business may want to wait, not just generally.

[The_Big_M]

Tony Abbott has already said that he will not be the Prime Minister of a minority Government. I note that Kevin Rudd has not made such a statement. I think that, like Julia, power at any price is more his line of thinking.

 

 

Which is amusing given the Billion dollars Tony offered to Wilkie for a hospital just to get Wilkie to vote him in for a minority government last time around.

 

Clearly, he's realised how tough a gig it is and knows he wouldn't be up to it.

Edited August 5, 2013 by The_Big_M

[MicCanberra]

The rate decision isn't affected by "businesses waiting."

 

And it'd be only in some issues where there is a difference of policy that a business may want to wait, not just generally.

Apparently Holden is waiting, as are several new Mining investment plans.:rolleyes:

[MicCanberra]

Which is amusing given the Billion dollars Tony offered to Wilkie for a hospital just to get Wilkie to vote him in for a minority government last time around.

 

Clearly, he's realised how tough a gig it is and knows he wouldn't be up to it.

Yes, Tony has said there will be no deals with independents, but is still willing to form a Coalition out of several parties anyway.:D

[bazzaw]

Yes, Tony has said there will be no deals with independents, but is still willing to form a Coalition out of several parties anyway.:D

 

I have been just waiting for somebody to bring out this old (and still ridiculous) assertion. The Liberal Party and the National Party have formed a formal coalition BEFORE an election - thus what you see is what you get and you know this before you vote.

 

Barry

[Aus Traveller]

Yes, Tony has said there will be no deals with independents, but is still willing to form a Coalition out of several parties anyway.:D

What parties? The Liberal and National Parties have been in an official coalition for many years, but I didn't know that Tony was willing to "form a Coalition out of several parties". I don't want to quote that famous Redhead from Ipswich, but "Please explain". :D Maybe I have missed something in the news.

[icat2000]

Yes, Tony has said there will be no deals with independents, but is still willing to form a Coalition out of several parties anyway.:D

 

Missed the mark on this one :D Next.

[MicCanberra]

Yes, they form prior to the election but it is still a coalition of several parties (Liberal Party, Country Liberal Party, National Party and the WA Nationals).:D

[Aus Traveller]

Yes, they form prior to the election but it is still a coalition of several parties (Liberal Party, Country Liberal Party, National Party and the WA Nationals).:D

 

It is a long-standing coalition of the Liberals and the National Party - two parties not several parties. The Country party changed its name to the National Party in 1975 (I knew it was years ago so checked it out). The Country Liberal Party you mention is in Northern Territory only and is not relevant in the Federal scene.

 

The coalition of Liberal and National Parties is not formed prior to the election, it is a formal coalition that has been in place for many years.

 

I don't want to sound 'nit picking', but the previous comments give an incorrect impression.:D It is better to be accurate with comments. :D

 

PS - Apparently the Northern Territory party called Country liberal Party does stand candidates in the Federal election and currently have one member in the House and one in the Senate. I don't know whether they join the Liberal-National coalition or not. This party if NT only and is closely aligned with the Nationals in the rest of the country. I am not a member of any party and don't live in the NT.

Edited August 6, 2013 by Aus Traveller

[MicCanberra]

It is a long-standing coalition of the Liberals and the National Party - two parties not several parties. The Country party changed its name to the National Party in 1975 (I knew it was years ago so checked it out). The Country Liberal Party you mention is in Northern Territory only and is not relevant in the Federal scene.

 

The coalition of Liberal and National Parties is not formed prior to the election, it is a formal coalition that has been in place for many years.

 

I don't want to sound 'nit picking', but the previous comments give an incorrect impression.:D It is better to be accurate with comments. :D

 

PS - Apparently the Northern Territory party called Country liberal Party does stand candidates in the Federal election and currently have one member in the House and one in the Senate. I don't know whether they join the Liberal-National coalition or not. This party if NT only and is closely aligned with the Nationals in the rest of the country. I am not a member of any party and don't live in the NT.

Yes, all those parties I have mentioned are Federal members and Senators in the coalition (obtained from the aph.gov.au website) and the fact that it has been a long time and is several parties that are similar doesn't change that the coalition is made up of sevral parties.

I know I was only nit picking (being pedantic) but I knew I would get a bite. :D

 

Anyway, back to topic, is the AUD going to drop lower than $0.87.

[Aus Traveller]

Which is amusing given the Billion dollars Tony offered to Wilkie for a hospital just to get Wilkie to vote him in for a minority government last time around.

 

Clearly, he's realised how tough a gig it is and knows he wouldn't be up to it.

 

When Julia Gillard signed agreements with the independents, she had to promise a lot for them to come on board. I think it was acknowledged later that it would not have been possible to deliver on the poker machine regulations Wilkie wanted. It has been obvious how difficult it was for Ms Gillard to govern with a minority government and 'herd all those cats'. Maybe Abbott isn't prepare to make the compromises necessary to put together a minority coalition when the different parties have such different agendas.

 

Let's wait and see.:)

[The_Big_M]

Yes, all those parties I have mentioned are Federal members and Senators in the coalition (obtained from the aph.gov.au website) and the fact that it has been a long time and is several parties that are similar doesn't change that the coalition is made up of sevral parties.

I know I was only nit picking (being pedantic) but I knew I would get a bite. :D

 

Yes, but on the 'nit picking' you wrote "willing to" which means that it hasn't happened or been confirmed yet. However, it is already in place.

 

Anyway, back to topic, is the AUD going to drop lower than $0.87.

 

Yes, in the fullness of time. :D

[MicCanberra]

Yes, but on the 'nit picking' you wrote "willing to" which means that it hasn't happened or been confirmed yet. However, it is already in place.

Fair enough, or maybe some of them aren't so willing.:rolleyes:

 

 

Yes, in the fullness of time. :D

Yes, the RBA makes it's announcement soon.:D

[MicCanberra]

Rates have been cut by 25 basis points (0.25%).

The AUD has bounced up from 89.25 this morning to 89.52 (USD) just after the announcement. Probably only temporary, but who knows what the AUd will be tomorrow.:D

[Aus Traveller]

Rates have been cut by 25 basis points (0.25%).

The AUD has bounced up from 89.25 this morning to 89.52 (USD) just after the announcement. Probably only temporary, but who knows what the AUd will be tomorrow.:D

I'm glad we have some extra US cash from our last long US series of cruises. It should be enough for purchases on our planned cruises where we will need US$.:)

[MicCanberra]

I'm glad we have some extra US cash from our last long US series of cruises. It should be enough for purchases on our planned cruises where we will need US$.:)

Yes, we have some that was bought at $1.04, if I had known what was going to happen I would have bought several $K more (at that stage economists were predicting that it would rise to $1.10).

[Aus Traveller]

Yes, we have some that was bought at $1.04, if I had known what was going to happen I would have bought several $K more (at that stage economists were predicting that it would rise to $1.10).

 

But consider that the drop is a little over 10%. If you keep this US cash for two years you would have done just as well if you invested the Aussie dollars at 5% interest (provided you could get that rate). I am just making a point that often we stress out too much over a drop in the exchange rate, particularly when (as in our case) it is only one component of a trip when the main costs are paid for in AUD. The US$ are spending money.

[MicCanberra]

But consider that the drop is a little over 10%. If you keep this US cash for two years you would have done just as well if you invested the Aussie dollars at 5% interest (provided you could get that rate). I am just making a point that often we stress out too much over a drop in the exchange rate, particularly when (as in our case) it is only one component of a trip when the main costs are paid for in AUD. The US$ are spending money.

 

Very true, and if I had the money at the time I probably would be spending it on the mortgage anyway.:D

[Aus Traveller]

Very true, and if I had the money at the time I probably would be spending it on the mortgage anyway.:D

I'm glad we don't have that to worry about any more. Paying off your mortgage is a great feeling. Better than Toyota's great feeling. :D:D