Well the AUD has surged to over US$1.05 from 98 cents just 2 weeks back and the USD Index is under 75: Source: Bloomberg While I agree that the AUD will not keep rising, what's the view of the forum as to the temporal proximity of its next correction? How much longer can the political parties pretend that its business as usual with their high taxing, wealth redistributing, big government, welfare state mentality before reality smacks them in the face? Let's face it, with the USD collapsing, their government collapsing in disarray because of the gigantic debt burden they have to finance and the Federal Reserve printing money to buy more debt to pay the interest on the old debt, their ability to sustain their military excursions into world policing have to be questioned by more people than just Sen. Ron Paul. What's Oceania look like without a financially strong US military? How does Australia rate as a sovereign risk without strong US backing? Brown and Gillard and Abbott all laughing along, living it high on the back of the tax payer while Rome is burning all around them. Reminds me of the fish slapping dance. [youtube]http://www.youtube.com/watch?v=IhJQp-q1Y1s[/youtube]
