Oh yes the 48 cent days. But how strange, casual jobs picked up like crazy as manufacturing of "Australian made" quality goods made great export sense. Indonesians loved our American owned Arnotts biscuits made in Northgate Queensland.
But for that to happen the USD should appreciate. But what happens if QE is continued? For that matter what happens if it's curtailed?
In this topsy world either outcome just might push the USD up!!
What happens if commodities rise with a strengthening dollar? It's not logical but neither is a money tree (QE).
I don't own an economic dartboard but commodities look set for a spin. Cheap commodity miners look better than over priced 'high yielding' blue chips.
Nikkei could go for a trot too. CBA over $100 by end of year? S&P blasts through the 1,800 barrier, p/E ratios in the US get to >30, DOW knocks 17,00 on the head?
All major US markets have set records so remember this time. One way or another it will be remembered but I fear for notorious reasons.
