'Dr Doom' Nouriel Roubini's firm warns of 20% Australian dollar slump

'Dr Doom' Nouriel Roubini's firm warns of 20% Australian dollar slump


Read more: http://www.smh.com.au/business/the-...llar-slump-20140922-10kc2e.html#ixzz3E1kSZP2w

 

Bloody iPad. Sitting at a pub, drinking wine, waiting for a babe.

I was going to add that the 20% drop in the Aussie makes silver a good backstop in a weakening economy.

 

"Dr Doom" makes him sound so dramatic.

UBS have been saying the same thing: http://www.abc.net.au/news/2014-09-19/australian-dollar-could-fall-to-73-us-cents/5756598

Deutche are saying 66c: http://forums.silverstackers.com/to...-to-drop-below-66c-benign-collapse-ahead.html

 

Isn't a lower AUD what the Reserve Bank is looking for?

 

It's a slump we will never recover from.

* The massive increase in energy and related costs will sound the death knell for any possibility of real investment in efficient nation-level transport infrastructure and networks.

* Our refineries will soon be all offshore.

* Our productive farmland and water rights are being transferred into the hands of offshore interests.

* Our potential for innovation is being shut down by international intellectual property agreements agreed to secretively behind closed doors.

* We have committed ourselves to the purchase of extraordinarily expensive (to buy and to maintain) future military hardware.

* Our existing infrastructure is decaying while the population is growing.

Over the past 15 years our window of opportunity has gradually closed and the current government simply bricked it up and are saving the last nails for our economic coffin.

 

SilverPete the 'Dr Doom' tag is already taken.

 

:lol:

 

Actually im a bit pissed at the AUD falling im about to make a significant OS purchase .....knew i should have bit the bullet last month

 

oh yeah we should elect the labor thugs because they know which side their bread is buttered is on Eddie Obeid and Steve Bracks and Joan Kirner the pillars of fiscal ineptitude.

Kind Regards
non recourse

 

Someone's cranky this evening.

 

aud interest rate are still high in comparison to the other western country.. so this should be temporary.

 

Just a bear with a sore head. If you have been stacking gold bullion for a number of years like I did in the late 1970's and then in early 1980, when Treasurer Paul Keating devalued the Aus $ we cashed in and used the proceeds for a 40% deposit on our first home. So it isn't a negative its a positive.

Too many posters on this site lack fiscal rectitude.

Kind Regards
non recourse

 

Unlike your blast from the past. Too many posters on this site are now subject to CGT (since 1984) and an over-inflated real estate prices.

 

China PMI data came in above expectations. Enjoy the blip in AUD strength.

 

There is nothing passe' about the income stream those properties produce and the GST is revenue neutral if you operate in the commercial world rather than the residential that people on this site keep banging on about.As for inflation unlike fiat the properties retain their real worth the inflated value is not a reflection of a bubble but rather inflation is government theft that is not the fault of property investors.

Kind Regards
non recourse

 

I was referring to the GST you would now be liable for if you made a gain on bullion. In your example where 'in early 1980' you sold bullion, you were not subject to any CGT.

 

It could be argued that demand from investors with multiple properties have affected supply, and hence had an impact on the price rises.
Price rises then are passed on through rents and mortgages, which are a major component of the cost of living, contributing to inflation.

So this government theft is effectively (in part) a transfer of wealth from those who have not to those who have.
Those who have not don't benefit from low interest rates, and it reduces the power of their savings.

While I respect your achievements NR, and appreciate the odd nugget of wisdom you offer, at times your sense of entitlement reflects a bygone age.

 

Considering the fees and charges that government through capital gains tax stamp duty, Rates, land tax, trust land Rich tax, planning permits, building permits, fixed supply charges for electricity and gas in many states (not Victoria) as well as use charges and....

The continued assault on individual property rights I beg to differ.

There is a lobby group that wants to saddle all property owners with "best use taxation" for the common good of the community which is weasel words for state expropriation of all privately held land.

With all due respect smk762 I see the politics of envy in your generation who have far more opportunity than most of my generation.

I like renovator have spent a lifetime educating myself to the legal means and laws pertaining to property ownership. I have also spent a lifetime building legal and financial structures to ensure neither I or my family will ever qualify for the palultry stipend 80% of the population aspire to.

Kind Regards
non recourse

 

What is "best use taxation"? Sounds like some sort of valuation based on idealised maximum potential land use rather than actual?

 

Property owners are sitting ducks when it comes to potential government and council charges. At some stage I'm sure governments will try to unlock some of that equity for themselves.