3 ms·
I think the grandparent may have been referring to the prospect of $2AUD/litre petrol.
by whatusername 15y ago
I think the grandparent may have been referring to the prospect of $2AUD/litre petrol.
- jacques_chester 15y agoThis was my precise point. Australians have been buffered from the rising price of oil by the rising price of the AUD, but there's no reason why these two prices should continue in lockstep. If the AUD goes down, petrol prices in Australia will soar and the government's already dismal ratings will sink. Plus, as was pointed out, a weaker dollar would embolden the RBA to raise interest rates. Two nails, one coffin. Folk in Australia forget what a minnow this country is. Our mindshare of worldwide attention is utterly disproportionate to our economic status.
- nl 15y agoOh, right. Yes I agree with the petrol pricing thing. I think we are sometimes too eager to class ourselves as a small economy though. In GDP terms, Australia has a bigger economy than South Korea, and is close behind Russia and India - we rank 13th in the world [1]. Far from a big economy, but not a minnow either. [1] http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomin...