In three years since I have been earning US dollars - the
fracking currency has gone from
0.70 USD for 1.00 AUD to the current price of 0.87 USD to 1.00 AUD. See
this chart. For example if I had a 1000 USD three years ago it would be
equal to 1428 AUD. Today that 1000 USD is only 1149 AUD. Considering 'real'
inflation in both US and Australia is about the same - this means that my 'deal'
in the US has got considerably worse.
What frustrates me is that the USD to AUD situation is not unique. It is not
the AUD which is super strong it is the USD which is insanely weak. However
there is next to no press in the US that their currency has turned to dog sh*t.
This currency weakness certainly places pressure on guest workers like
myself. We will start looking for more profitable geographies to live and work.
One can only hope that the lack of faith which the world has placed in the USD
is related to the currency political crisis in the US. That crisis will
naturally resolve itself next year (unless they cancel the election - which
would probably cause the USD to completely 'tank').