How many times in the last thirty years have we heard people...

How many times in the last thirty years have we heard people screaming, begging, pleading and wishing for a weak Australian dollar? After all this time how can it be that the only economic ace we have up our sleeve is to diminish and enfeeble the value of our currency?

People have short memories. In practice, the increased revenue effect of a lower $A is offset by bigger bills for imported goods. There are benefits to a lower dollar but most people are better off now at 85c than they were at 50 cents in the year 2000.

Its easy now to make a case for a much lower dollar. The $A is no longer a commodity currency, and is a victim of a strengthening $US against almost all comers. DXY ($US index) is up almost every day. 1 year chart.