The Aussie dollar crashing I kind of don’t know what it means……..
Good for tourism, international investments, exports……
What’s the pros and cons of this?
I’m a redneck idiot that struggled to comprehend the macro.
But I try.
Discussion
Aussie savers getting rekt.. AU inflation will rise as foreign goods is more expensive. Over all - good for export, bad for import...
It is "bad for Aussies..." and thats why we #bitcoin 👌
It's crashing against the US dollar, because this is what the FED is doing to all other currencies.
The gov couldn't continue raising taxes, so they started borrowing causing interest rates to rise. When that wasn't enough they starting printing money. We need to remember that COVID was a manufactured crisis to mask the underlying financial stresses of their system, following the repo crisis in late 2019. They had no liquidity and had no choice but to print a huge sum, and they needed a reason to do so where people wouldn't figure it out... COVID.
All that did was kick the can further down the road, and soon enough the piper will have to be paid. Us plebs felt the brunt of this first, with prices for everything skyrocketing while these faggots told everyone inflation is transitory and there was nothing to worry about.
This time, it's not an issue isolated to a few economies, but all countries will suffer because of this. What we don't yet know is how they plan to move ahead, even though thier options are limited. I think another crisis makes the most sense. Distraction is what they do best.