money talks

I know, I know, I havent blogged for ages. Well...I havent. Everyone else has been making really fun to read and exciting posts about this up coming trip and keeping this website alive so we can continue to post on it. I would have made a post earlier about the stock market crash and how that would have affected our trip in terms of currency exchange, but been a bit too busy *cough studying cough*. That and I couldnt remember the username and pw for the site and havent really been bothered to go to my email to get it back. But today since Im at home sick, I thought I might as well put in the effort. I'd talk about me being sick on my other blog www.xanga.com/janson21 (nothing wrong with a quick plugging of my site). So now that I do have time, I'll talk about the rocky Wall Street Crash in relation to our trip.

N.B. Can be extremely boring. Post might not even be finished because I would have bored myself to sleep.

We have seen the Aussie dollar plunge from a high of 98USc to something like 66c, which is very disappointing, because the higher our dollar is, the more of theirs we can get which means we can buy more stuff. But now...lower value = less stuff we can buy. And all this is because people overseas are selling their shares in our business markets and have flooded the market with aussie bills, and as such as supply exceeded demand, the value plummeted. I think thats what happened. Sounds reasonable. Anyway, the reason why everyone was selling off the shares was because their confidence in our business profits dropped because the U.S. might (if not already) go into recession which would cause our companies to not do as well because we sell a lot of stuff to the U.S. As the saying goes, when America sneezes, the rest of the world catches a cold. Which is what I kind of have now, with a bit of coughing, headache, dizzyness...ok Im getting off track here. Errr what was I saying? Oh yeah. How this impacts on us. Well since it dropped so low, it means we'll get less money when we exchange but since the government has actually gotten off its ass and done something, the markets are picking up, and so is our currency.


See See. All green. Except for the HK one but that'll pick up as well. So I suggest we all wait a bit for it to get higher, because I'd like to go overseas and be able to have as much money at my disposal as possible...you know with all the spending we're all planning to do. Anyway, I got the stats from http://markets.theage.com.au/apps/mkt/forex.ac so keep an eye on it and just hope it goes up and up.

Argh better get back to studying and trying to get better. Hope everyone works hard for their exams so this trip will seem even more satisfying after its all over and done with.

Janson Cheng