Quote:
Originally Posted by AstroJunk
You have me to thank for that.
I spent my (and my wife's) stimulus money on US gear and obviously the economic boost has lead to increased confidence in the US money markets which led directly to an greater propensity for US companies to enter into foreign trade deals and thereby lessening the effects of the inflated US$ brought on by the transitory fiscal protectionism.
I think so anyway.
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I honestly believe that it is unwise to rely on one currency as a central pin to world economic stability. That is fraught with danger. This isn't the first time the US dollar has had issues (and brought the rest of the world's economy downwards), and it won't be the last. The US government is an incredibly irresponsible spender. Trillions of dollars on an unneeded war in Iraq, when there's half a million homeless? You have got to be kidding me. Their medical system and welfare system is close to collapse too. The US is a "I only care about me, screw you" society, and that is unhealthy imho. It fosters greed, and it fosters uncaring attitudes about your fellow humans, something which I believe leads to a downward spiral in social behaviour.
Sadly, the Australian dollar is so tightly linked to the US dollar that it places Australia in a high risk zone. I'd personally like to see us become less dependant on the US - for our own long term good.
Dave