25 Sep 2011

WEAK AUSSIE DOLLAR....WHAT A LOAD OF RUBBISH!!!

Michael Pascoe

The Greenback's on Viagra!

Headlines about a ''weak'' or crashing Aussie just demonstrate that it's human nature to have the attention span of a gnat.

Or do gnats accuse each other of having the attention span of a human?

As usual, we tend to think it's all about us. Part of the Aussie's rally came from our economic credentials - our terms of trade, status as a China proxy, a strong, growing economy with relatively high interest rates.

A large part was just the flip side of the US dollar's weakness - a faltering economy, very low interest rates, massive and growing government debt, the government wanting a weaker currency, the Federal Reserve printing money.

The political paralysis in the USof A and a bleak decade or so ahead.

None of those fundamentals has changed, so before thinking the Aussie has gone bananas, consider that maybe the greenback has slipped a half tab of Viagra.
AMERICAN DOLLARS
DON'T HAVE A VERY THICK SKIN

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