There might be a substantial number of people a bit gobsmacked that a Budget which started only last July 1 is after just four months some $16 billion out of whack. So out of kilter, in fact, that the Government today has had to effectively recast all its expectations and introduce some big-hit measures to get back on course.
Consumers who already are close to deciding that the next few years might best be endured down in the onion cellar with a supply of can food and batteries might now feel their instincts are right.
But this is what happens to a 21st century economy exposed to global markets which dip and dive frequently and have almost instantaneous effects on domestic economies. And the response to these fluctuations is important.
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To some Australians the high dollar is cause for celebration.
A great way to pick up a bargain over the internet or a cheap holiday overseas. But for many, including 100 workers at Caterpillar in suburban Melbourne last week, it means watching your industry become less competitive and suddenly finding yourself out of a job.
The cause of the high dollar is Australia’s mining boom.
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If you looked at the value of the Aussie dollar as a sign of our economy strength, things have never been better: since the currency was floated in 1983, it’s never reached such a high value. Here we found ourselves 27 years later practically rolling in money, with a dollar nearing parity with a value in the high 90’s.
Let’s ignore the negative for a moment, shall we? The good side of the value in our dollar obviously lies in how much our prices are going to drop – at least, that’s the way it’s supposed to go if we believe what we’re told. Sadly it seems the opposite is mostly the case.
As luck would have it though, the modern age has found a way around that, as it’s now much cheaper and easier than ever for you to go on the internet and purchase anything you’d like at cheaper prices overseas, thereby bypassing the expensive Australian retailers.
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