On: The US dollar is on track for its worst year in modern history

[mindok]

Not in Australia. Our dollar has taken a beating too. I guess digging holes and selling property to each other at ever higher prices isn’t that interesting to the rest of the economic world.

[patrickhogan1 → mindok]

Australia printed a lot more money relatively than the US from COVID-19 until now, largely to capitalize on a booming commodities sector. A factor that led to some do weakness.

But I think any weakness is temporary. With a stable government and abundant natural resources that will be even more sought-after in an AI-driven world and largely insulated from automation Australia’s long-term prospects look strong.

[lifestyleguru → mindok]

> I guess digging holes and selling property to each other at ever higher prices isn’t that interesting to the rest of the economic world.

Wow this is the case in most of the Europe too, what a coincidence. Fancy investing in our premium real estate?

[actionfromafar → mindok]

If that doesn't work, let's try "one part of the population chasing another part into concentration camps!" That'll attract investors.

[defrost → actionfromafar]

Australia's already tried that one: https://en.wikipedia.org/wiki/Aboriginal_reserve

[lifestyleguru → actionfromafar]

Every empire starts with free labour. Cheap labour is too expensive.

[actionfromafar → lifestyleguru]

While there's a lot of truth to that, I think that works better in undeveloped economies, and in the past, than now.

[mensetmanusman → mindok]

The Hole just got 10 ft deeper!

[brummm → mindok]

Lol, Australia and Canada seem to be very similar in this regard.