According to the SMH today:
The surging Australian dollar ranks as a far bigger influence on profitability than the threat of further interest rate rises, a survey of chief executives says, in a sign of the growing strain the currency is placing on many companies.
The Australian Industry Group CEO survey, to be published today, underlines the challenges of the mining boom by nominating the high dollar as the top concern of business bosses - on a par with preparing for an economic upswing.
Well, no shit Sherlock.
As admirable as the team at AI Group is, this can hardly rate as kick-ass lobbying. A gentlemanly survey, of gentleman, by gentleman. It reeks of failure.
Where are the tactics deployed so effectively by the miners during the RSPT debacle? Terror, calamity, apocalypse! Investment collapse! Unemployment surge! HOUSE PRICE BUST!
We already know that this Labor government is a soggy lettuce when it comes to vested interests. The Opposition is an idiot but is trying to make noises on the issue. Give them something to run with.
Are you telling me Bob Katter, Tony Windsor and Rob Oakschott wouldn't be sympathetic to the parallel plight of manufacturers, education, tourism and agribusiness?
Seriously, if you want in, contact me at david.smith.media@gmail.com.
Update
Robert Gottliebsen, the past master of business hysteria and author of the "RSPT will crash house prices" meme offers a terrific insight into the kind of 'lower the dollar' campaign we need. From Gotti:
But the rise in the Australian dollar and the fear that eventually China will cave into the US demand to lift the yuan has turned off the China buying tap.
Suddenly Sydney apartments look expensive to those same Chinese investors and they can see the potential of a price decline. It seems better to leave their money at home.
3 comments:
Darth Vader was my childhood hero. Fittingly, you have taken his place. The Force is clearly with you David.
They will join us or die, my reader!
He he, quite. After our terms of trade reverse or our debt driven ponzi scheme has its day of reckoning I've a feeling everyone (asides from property spruikers and the like) will join in on the "too much debt = excessive risk" song. For now they're drunk on cheap credit from banks they believe are invincible and phantom equity in housing. And any suggestion that the punch bowl could run dry is considered downright offensive.
And I completely agree with your assessment of the current Government and Opposition. Neither side has the mettle to deal with our case of Dutch Disease and a glance at the RSPT debacle shows how hard it will be for any government to address the issue. Then again, John Hewson destroyed his campaign with a, well hilarious, GST backfire and two elections later John Howard used the GST to save his Prime Ministership. So the right mixture of political desperation and character (I refuse to use the word "courage") could see either side address the issue sometime. My Parents are small business owners and are heavily involved in the local Chamber of Commerce. They, along with the retailers and cafe owners just scoff at every bit of economic good news because every bit of it that trickles their way is almost entirely eroded by increases in interest rates or government bureaucrats finding more creative ways to make their lives difficult.
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