US$1 = AUS $1 How much more fucked up is the US economy going to get?
 

I just banked a cheque for US$5612 and it only made AUS $5684 after charges.

That's fucked up.

When I started the AUS $ was only getting around US 58 cents.

How much worse is it going to get? This is seriously putting a dent in my income now.

welcome to canada

yes, welcome to canada indeed.

I guess the best thing to do is look for more local programs to promote. The only trouble with that is the small population. Time to do some niche mining.

its gonna become way more exciting very soon
didn't I say that way back earlier that the USD is going to crash.....the party has not even started yet folks.

I did a calculation on how much money I lost in the last fin year due to it. It made me fucking sick when I saw I could have bought a nice new car with it. Not much you can do about but suck it up and work harder than ever.

1 U.S. dollar = 10.2125226 Mexican pesos

What they said.... seriously. :disgust

yep, it sucks here. I am starting to see more and more of it, especially with my mainstream biz and how it is effecting people.

Wow! i remember when it was $1 to 100 pesos.

It's been painful for sure. My life would be much different without GWB in office. Thanks guys!

PS: Good sites in Australia, please add to this list if you know of more!!

Abby Winters
I Feel Myself
Beautiful Agony
Girls Out West
Southern Cross Vision
I Shot Myself

I remember as a kid pesos was like pennies.

Did some checking it's a new peso. which eqauls 1 to 10, sorry for the confusion. The USD is still fucked, though

I can remember 48 cents to the dollars. It was sweet doubling my money plus coming away with a little more.

welcome to canada...LOL

Thanks Socks, I'll take a look at those.

http://finance.yahoo.com/currency/co...USD&amt=1&t=5y

Going in the wrong direction.

These forecasts look a little overoptimistic: http://www.forecasts.org/exchange-ra...hange-rate.htm

Hmmm....Minimum wage in Australia is $16/hr and the AUS dollar is 1 to 1 with the US. That's it, I'm going to Australia to work at MickyD's. Maybe I'll even be able to send some money home to the US.

Now the gringos can be the Wet backs of Australia.

Yup it sucks balls at the moment, but by the end of the year to middle of 2009, I can see the Aud back around 0.90 cents again. All it will take is an interest rate cut here and 1 rate rise in the usa, coupled with our deteriorating consumer/business confidence here.

2cents.

I remember when it was 28 for 1 US.

those were old pesos. Iw as there right after they changed those. Almost got scamed at flee market with old money.

same problem here too

a few years ago you could double your money
now you can't

its use to be nz 40 cents to the the us$ when i started

now its nz 80 cents to the us$

US.$100 use to be NZ.220 now its about NZ.$120

The banks were offering it at 10.03 yesterday.

CuriousCash of course !!!

:thumbsup

exchange rates mean shit !


lots of money coming IN the US . . lots of people EXPORTING their products . . lots of tourist go to the US to buy cheap electronics

trust me. . lots of people or making lots of money on the low dollar . . you are just not one of them . . hahaha

it goes back way further than bush. people are dreaming if they think a dem can come in and things will get better, unless they plan on doing the right thing and raising rates to 20something% or ending the fed.

high gasoline prices are based on the fact that gasoline is BAD for mother nature . . they want people to get motivated to use less of it .. .simple . .

exactly .. you have to be very naive . . to think all that goes wrong is Bush his fault . . and all good things that go on in the US every day .. are just not his responsibility . .cause you know . . every day lots of good shit goes down too . . dont just look at the bad things that happen to make up your mind about a person . .

Yea it is hurting alright :(

Can you believe it?

USD1.00 = USD1.00 since 1792. :))))))))

Was the Canadian dollar as low as 0.48? That was the USD-AUD rate in 2001. I did a couple of quick historical lookups of CAD in 2001 and the lowest (best) rate I could find was 0.63

So given that CAD and AUD are pretty much equal to USD these days, that means us Aussies have lost a lot more. :( (Unless the CAD has dipped to 0.48 at some stage...)

This is bad!! :(

If you're depositing those sorts of amounts regularly it may be worth doing a wire transfer, since banks will usually give you a slightly better conversion rate compared to a cheque. You'll need to calculate whether the extra fees - both at the sending end and any your bank charge on receipt - will wipe out the $ benefit of the better rate. The other gotchya, and this can be a biggie, is that you can't pick the best day to do the exchange; with cheques you can put them aside for a month if the rate is crappy (as I'm doing now)

From 1949 to present
High (18/01/2002) - $1.6125
Low (06/11/2007) - $0.9215

i remember for 10g's i would get 15g's, now it's even :/

Thanks for tip. However this particular host refuses to TT unless I have a minimum of $5K commission each month. It's a little sporadic and as I have 4 different accounts with them for tracking purposes, I'm screwed for now.

Right, so in early 2002 it dropped as low as 0.62
About 6 months earlier it was 0.48 in AU. Those USD 10 gs got 20.8 here.
USD AUD is currently at parity, a change of more than 100%.

Do you see now how we've lost more than you guys? :)

Probably worth asking your bank if they can give you a better rate or discounted fees anyway. Which bank are you with and how much are they charging you to deposit the cheques? Are they negotiated (converted on the spot) or sent off for 4-6 week collection?

I started out paying $35 per cheque at Westpac, ended up at Commonwealth paying $10 per cheque with a 28 day hold (which had a little bug, you could only hold a single payment, so a subsequent deposit released a previous hold :pimp:pimp:pimp ), then moved back to Westpac with unconditional on the spot clearance for $10 per batch of cheques. They've changed the goalposts a few times since then and I'm now paying $15 per 4, but it's still a pretty good deal.

I'm with Westpac too Rowan, $20 for up to 4 cheques, but the exchange rates there don't match those I see online at places like xe.com. Shafted every which way.

You are correct my friend, as much as I dislike Bush, there is an 8 year lag in the economy so this actually started with Clinton. As much as I hate most republican policies, a democrat in the white house will be an absolute disaster with the raised taxes and liberal low-income programs.

Either way we are fucked, I'm thinking about moving back to Europe. My wife already filed her dual-citizenship papers so when that goes thru she can sponsor me.

Fuck the good ole USA, it has cost me over a million dollars in lost real estate property values in the past year plus I still need to pay the inflated property taxes and insurances.

To make matters worse, wait until you see all the bank bailouts the gov will need to pay in the upcoming months, plus when they go and bailout GM when they go BK next year.

Hold on, it's gonna be a rough ride! Thank God I get some dividends in Euros :)

Yep, I agree. I deposoted $1,000 USD from my paypal to my bank account and it ended up to be $1,018 AUD. That's bad!