Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (62420)	4/21/2005 7:11:20 PM
From: Elroy Jetson	Read Replies (2) of 74559

There is a great fear of Australian exports diminishing as the value of their currency rises, but there is no great evidence of this occurring. On the other hand the strong currency did give rise to a surge in imports, especially electronic items, and especially during the Christmas season. Fortunately this did not result in a rise in credit card debt as Australians paid off the bill by February. The Australian Reserve Bank is fearful of Australia becoming another quagmire like the United States where people borrow against their rising home values to buy imported crap from China. This is why the ARB has been rapidly rising rates to kill off real estate appreciation. Export industries continue to consolidate to achieve lower costs. Brewer Fosters is purchasing Southcorp, a holding company for largest wineries in Australia. Australia tends to worry about these things in anticipation. I can't imagine the unrest were Australia to be in the position America has been in post-Reagan where we routinely spend 6% more than we earn. .

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