Tigerandahalf wrote: » The trade war between China and the US seems to be getting worse which should weaken both currencies.
rainybillwill wrote: » To be fair it had dropped a lot when they posted. Started to recover after, maybe they effected the markets
cnocbui wrote: » Can you define tanking for me, as it's up 0.95% against the Euro the past 24hrs?
FernandoTorres wrote: » What stats are you looking at? The mortgage delinquency rate in Australia is 1.5% for over 90 days arrears. This compares to 6% in "booming" Ireland. .
pearcider wrote: » The oz collapse should have happened 6 years ago but the central banks dropped the interest rates to near zero. The collapse has been postponed. The collapse will still happen. It’s just going to be much worse now. Look at the stats pal, people can’t pay their mortgages and oz cities are full of half finished developments. The game is over.
FernandoTorres wrote: » What scenario are you predicting where the Australian economy crashes, along with the property market and banks yet Europe/Ireland continues as normal? The only thing that will crash the Australian economy is a large, global crash which would affect Ireland and Europe even more. Australia has very low national debt in comparison and has a lot more tools to weather a storm. Just look back to the start of this thread where people were predicting the Australian collapse 6 years ago. The reality is, nobody has a clue.
pearcider wrote: » My opinion I’d get out now as AUD is going a lot lower. The property crash is only getting started there but end result will be worse than Ireland. As we were tied to the euro, we were forced to take the pain instead of devaluation which is the RBA policy since before this thread got started. However the central bankers have only postponed the pop and blown more air into the credit bubble. Thus making the inevitable correction even more painful. The mortgage stress hasn’t even begun in Oz. When it does, it will sink the big banks. The writing is on the wall. Watch this video.https://m.youtube.com/watch?v=Fn0UdhisePw The AUD will truly tank when the government is forced to recapitalize and more than likely nationalise them. It’s going to be an absolute sh*tshow. Think Ireland in late 2008. And then some. Except we had the EU to bail us out. Oz has the printing press...The Oz government went nuts with their tax incentives negative gearing and that. My guess is the big 4 banks are all one credit crisis away from insolvency just like Anglo Irish bank was. The fact only one of them passed on the full recent rate cut is telling. Get out now. If you’re converting to EUR put 10% into gold and 10% into USD as a hedge. It sucks that we are in this situation where our own hard earned cash is at risk by reckless governments and central bankers. But you have the tools to protect yourself. Best of luck.
Low Energy Eng wrote: » Or China could stimulate like last time and commodity prices go nuts which would be bullish. Just putting it out there.
Brianb8802 wrote: » The dollar was going quite bad at the end of June when it was at its lowest point for 4 years skirting around at 0.60, outlook was pretty bleak. Now it's back up to 0.62 after a good two weeks trading, still pretty bad historically mind you but positive none the less. After 10 years we're going to move back to Ireland next year and now have to toss up the gamble of transferring the lump sum savings back now or this time next year. I know the basis of the economies are very different but I find it hard not to compare Australia's to Ireland's back in the day. Especially the construction and property sectors. How is everybodies else's crystal ball looking.
niva*sis wrote: » Forecast for the dollar to hit the .50cent mark for the euro next year. Pretty frightening for those planning on moving home.
Peregrinus wrote: » Assuming, of course, that their powers of future-predicting are good enough that they can be confident that it will improve!
cnocbui wrote: » Those heading back to Ireland could do worse than plonk their money into Australian investments, keep their bank accounts and enable online banking and then only shift money back when the exchange rate improves.
