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Official rates were increased today by 0.25% up to 3.25% with further increases expected in coming months.
Damage to me? The rate for $A vs $US [and other currencies] deteriorates even further and costs me $$$$ in real terms.
Oh well.
Where's this world recession? AdSense grows daily, even given the adverse $A, Amazon and other affiliate networks are performing strongly.
What recession? Is it all in the mind?
At FDR’s First Inaugural Address he said:
“Only Thing We Have to Fear Is Fear Itself”
Indeed, still very true today.
So be glad you're worrying about a few points on the exchange rate, and not where your next meal might be coming from. It is not all in the mind.
However, I do think the fits and starts in the recovery process *are* due to the fear you mention; Wall Street seems to panic quite easily these days, and the slightest negative factors (or failure of positive factors to further increase) seem to be amplified through their fear. I was thinking just yesterday that we'd recover faster if all news reporters were to take a year on holiday.
Jim
Read this
[independent.co.uk...]
Most governments in the world total ignore this. They tell to the people, we have overcome the recession, all is fine, all is good, and are driving full speed towards a wall, ignoring this wall.
Only one government makes honest preparations to this and will be the big winner in the next oil crisis: China.
I was thinking just yesterday that we'd recover faster if all news reporters were to take a year on holiday.
We have to deal with the real problems, to change fast away from fossil energy to renewable energy.
With this task, we would have high conjuncture.
Built up factories for photovoltaic and lithium batteries as fast as possible. Put in this change as much effort as 1942 to 1944 in US military expenses (37% GNP)
Higher energy efficency for all houses.
Change all cars to plug-in hybrid cars.
Change all cars to plug-in hybrid cars.
