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The World's Worst Currency? Beware the A$.......

http://www.forexhound.com/article.cfm?articleID=122181

Forex Trading Forecast: Australian Dollar
GFT , GFT
Published 01.12.2009 12:08 GMT
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Aussie looks to struggle in 2009The forex trading forecast for the Australian dollar is not looking kind. The Aussie is likely to struggle in currency trading on the FX market in 2009 as the global recession continues, and as commodities find it difficult to make a comeback.

The Australian dollar is a commodity currency. It relies on the export of its natural resources to support the currency. With the global recession cutting demand for commodities, the Aussie is having a difficult time in currency trading.

In addition to concerns about commodities, economic stimulus might be needed, meaning that Australia could see interest rate cuts. And interest rate cuts are considered yet another factor that sends currencies lower on the FX market.
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The World's Worst Currency? Beware the A$.......

http://www.forexhound.com/article.cfm?articleID=122181

Forex Trading Forecast: Australian Dollar
GFT , GFT
Published 01.12.2009 12:08 GMT
Rate this article:
0

Aussie looks to struggle in 2009The forex trading forecast for the Australian dollar is not looking kind. The Aussie is likely to struggle in currency trading on the FX market in 2009 as the global recession continues, and as commodities find it difficult to make a comeback.

The Australian dollar is a commodity currency. It relies on the export of its natural resources to support the currency. With the global recession cutting demand for commodities, the Aussie is having a difficult time in currency trading.

In addition to concerns about commodities, economic stimulus might be needed, meaning that Australia could see interest rate cuts. And interest rate cuts are considered yet another factor that sends currencies lower on the FX market.
See Also
 

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Australia's Homeless: A National Epidemic

http://www.theage.com.au/opinion/hom...1228-766g.html

* December 29, 2008
* Page 1 of 2 | Single Page View

WHEN most people think of homelessness, they think of kids on the streets doing drugs, alcoholics nursing bottles of booze on park benches and people with mental illnesses wandering the streets begging for a gold coin.

But concealed in the official statistics are large numbers of single mothers struggling to bring up children in the most dire of circumstances.

While their plight attracts little in the way of media interest or community sympathy, they make up the majority of people flooding homelessness services in the hope of finding shelter for their families.

Most homeless single mothers are in this situation not because they fall on bad financial times or have problems with addiction, but because they are the victims of domestic violence, the foremost cause of homelessness in Australia.

Women who flee the family home most often do so to protect their children and to save themselves — 55 per cent of the women accompanied by children seeking assistance from homelessness services are running from abusive relationships.

But the statistics about women and children made homeless through domestic violence tell only part of a complicated story.

Many women who leave violent relationships seek the support of friends and relatives rather than go to refuges or shelters.

There simply aren't the resources to accommodate the number of women and children seeking shelter — almost half the women who do approach refuges will be turned away.

Those women often return to violence and abuse rather than have their children sleep rough in parks, in railway stations or in cars. That 42 women were killed by their intimate partners in Australia in 2006-2007 is a chilling reminder of just how perilous the home can be for some women. While single mothers spiral into poverty and homelessness, the perpetrators of violence often stay in the family home.

If the men guilty of violence were removed, women and children would not have to surrender their home, and the homeless numbers would decline almost immediately
 

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Sharp Recession in Australia Forecasted

Author: 123jump.com Staff
123jump.com
Last Update: 3:19 PM ET January 19 2009

Australian stocks rebounded after precious and base metals rose on the specualtion that the recent stimulus in Europe and the U.S. will drive the demand higher. Separately, a private economic forecast suggested a sharp slide into a recession. Western Australia property prices drop.


3:00AM New York, 7:00PM Sydney – Australian economy estimated to slide into a recession from a recent boom. Property values decline in West Australia.

Australian stocks on a rise in commodity stocks as metal prices increased on expectations that global government intervention will help to forestall a deepening global recession. Copper prices rose 5.1% and gold prices rallied 4% on Friday last week.

Realty stocks however pared gains on a report that showed that house prices are falling in Western Australia as resource boom fades.

In Sydney trading ASX 200 index rose 1.1% or 38.4 to 3,589.30.

Of the ASX 200 index stocks 127 increased, 52 declined, and 21 were unchanged. Dexus Property led gainers in the index shares with an increase of 8.8% followed by Australand Property gaining 8.2%.

Australia to Slip into Recession

Economic consultancy firm, Access Economics reported in its quarterly economic report released today that Australia is headed for a recession as growth continues to slow in the global economy.

The Reserve Bank of Australia is expected to lower its key lending rate to 2.5% at its next monetary policy meeting. However, after a sharp drop in interest in the last meeting may not require immediate cut in rates.

According to the report, the country''s unemployment rate may increase 7% in early 2010 and the current account deficit will increase to A$100 billion in the fiscal 2009, while the Australian dollar may declined to 56 cents against the dollar from 67.6.

Access Economics head Chris Richardson said, “The economy will be slip-sliding into recession. Australia''s recent prosperity will unwind scarily fast.”

Property Values Drop in Western Australia

The Australian reported today that the Real Estate Institute of Western Australia reported that the property market in West Australia is deteriorating as the resource boom unwinds.

Rents dropped 8% in Geraldton and in the northwest fibro shacks that were rented for A$1,000 a week are now vacant due to retrenchments.

Real Estate Institute of Western Australia deputy president David Airey said sales in Perth''s affluent western suburbs fell to 85 in the quarter to December from 150 in the previous quarter and 300 in the same period a year earlier.

House prices slipped 4% in Perth in the quarter to December, while the median prices of a Perth house fell to A$418,000 from $473,000 in December 2007.

“Properties priced up to $400,000 in areas popular with first-home buyers have either been steady in price or fallen only very, very marginally,” said REIWA.

Gainers & Losers

Dexus Property led advancers in the ASX 200 index shares with a rise of 8.8% followed by increases in Australand Property of 8.2%, in Newscrest Mining of 8%, in Linc Energy of 7.7%, and Pacific Brands of 6.9%.

Commodity stocks gained after copper prices soared 5.1% and gold prices increased 4% on Friday last week. In today''s trading gold prices rallied $19 to $839 per ounce and copper prices edged up to $1.5275 per ton. Acquarius Platinum gained 6.8%, Lihir Gold jumped 6.7% and Paladin Energy climbed 6.5%.

Centro Retail Group led decliners in the ASX 200 index shares with a decline of 17.5% followed by losses in Macquarie DDR TR of 12.1%, in ING Industrial of 8.8%, in HFA Holdings of 8%, and FKP Property Group of 6.8%.
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aussie jailed for insulting Thai king!

Author jailed for insulting Thai king

* Story Highlights
* Australian author jailed for insulting Thai king in a book
* Harry Nicolaides jailed for three years; cut from six for his guilty plea
* He was arrested last year, three years after the book was first published
* Defense lawyers deciding whether to appeal or ask for a royal pardon

BANGKOK, Thailand (CNN) -- An Australian author was sentenced Monday to three years in prison in Thailand after falling foul of a Thai law that makes it a crime to insult the country's royal family.

Harry Nicolaides was arrested last August over a 2005 book called "Verisimilitude," which includes a paragraph about the king and crown prince that the authorities deemed a violation of the Lese Majeste law.

Nicolaides, 41, was bombarded with questions from foreign journalists as he arrived at the court Monday, wearing shackles as he stepped from a prison bus. In tears, he said he would plead guilty.

"Truth is stranger than fiction," he said. "It's been an ordeal for months. It feels like a bad dream." VideoWatch shackled Nicolaides at court »

The Thai Criminal Court originally sentenced Nicolaides to six years in jail but cut the punishment in half because of the guilty plea. He listened calmly as the verdict was translated to him.

After hearing his verdict Nicolaides said: "I wish my family the best." VideoWatch Nicolaides' brother's reaction »

One of his lawyers said no decision had been made about whether to appeal or seek a royal pardon. King Bhumibol Adulydej has pardoned foreigners in other similar cases in the past.

CNN has chosen not to repeat the allegations made by Nicolaides because it could result in CNN staff being prosecuted in Thailand.

Nicolaides had been living in Thailand since 2003, lecturing at two universities about tourism.

He was about to leave Thailand when he was arrested on August 31 last year. It is not clear why the authorities waited three years after the publication of his book to bring charges against him.

"I think there are individuals who have exploited an obscure law for their own self-interest," he said.

Only 50 copies of the book were published, and only seven were sold.

The law Nicolaides was convicted of breaking is section 112, known as the Lese Majeste law.

It says: "Whoever defames, insults or threatens the King, the Queen, the Heir-apparent or the Regent, shall be punished with imprisonment of three to fifteen years."

Thailand's king is highly revered in this Buddhist nation, but even he has said in the past that he can be criticized.

Thailand's new prime minister, Abhisit Vejjajiva, also told CNN he is concerned about the misuse of the Lese Majeste law.

"There are cases in the past where this law has been abused for political purposes, and I agree this has to stop," he said.

Despite the rhetoric there's little sign the prime minister will change the law. Other cases are pending against both foreigners and Thais.
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Australia,Why do you hate Foreigners? Why Spit on Them? Why treat them like Dogs?

why australia? what posses you morons to treat muslims, indians, chinese and foreigners so badly? why? why put your cigarettes out in people's hair?

Why?


http://www.thenational.ae/article/20...80339/1015/ART

Australia no sanctuary for Muslims

Blayne Slabbert, Correspondent

* Last Updated: December 29. 2008 9:30AM UAE / December 29. 2008 5:30AM GMT

Muslims appear to be bearing the brunt of racism in Australia, with a new report revealing 80 per cent feel unsafe and unwelcome in the country and some describing their lives as similar to living in a conflict situation.

The research exposed bleak tales of racism, including being spat on, having cigarettes put out on them, verbal abuse and having their hijab pulled.

Nearly half of the women interviewed for the report by Islamic Women’s Welfare Council of Victoria said they were victims of racism and 90 per cent said they knew of other Muslim women who had experienced racism.

The report, Race, Faith and Gender: Converging Discriminations against Muslims in Victoria, said some women are hiding at home for up to a month following overseas terror attacks so as to avoid racist incidents directed at them.

Joumanah el Matrah, the report’s co-author, said while researchers had been aware racism was prevalent in the community, they did not know to what level it existed.

“What we were surprised by was the extent of the racism Muslims were experiencing, that it was a daily occurrence,” she said in an interview with The National. “We were also surprised the level of apprehension and fear the women lived under.”

However, Ms El Matrah, who is also the executive director of the Islamic Women’s Welfare Council of Victoria, said the biggest shock was the level of racism inflicted on children.

“The women felt quite disempowered by their children’s experiences of racism and how to deal with them. They were very good at protecting their children, but they didn’t know how do deal with the psychological and emotional victimisation of their children.”

The study involved holding focus groups in the state of Victoria with more than 300 Muslim women who were from low socio-economic groups and predominantly non-English speakers. Many had recently arrived in Australia.

One of those interviewed told the following story: “I was going shopping with my son, he is blind. These men followed us and one extinguished his cigarette on my head. I felt it burning. I started to run with my son. They came up and surrounded us, six of them, Australian and white.”

Another said: “I didn’t speak to anyone about it, just people in my community. I didn’t know who to go to. Besides, it’s not as if it happens once in a blue moon, it happens all the time – they spit at us and pull our hijabs and call us black.”

Kevin Dunn, a professor in human geography and urban studies at the University of Western Sydney, said the report confirmed findings in other western countries of a rise in racism following the September 11 attacks.

“Those attacks and the political statements and debates that swirl around those events provide perpetrators of racism with some sort of licence to act,” he said in the report. “The experiences of racism in the latter part of 2001 are shocking and the everyday racist incivilities that have carried on since reveal the unacceptable exposure of Australian Muslim women to racism. These hate crimes and incivilities against Australians should have been seen as a national emergency.”

Other findings from the report showed Muslim women were more likely to experience racism on the street, in shops and shopping malls. The wearing of the hijab was the most frequently cited reason for experiencing racism. Many said they experienced a consistent sense of low-grade fear and vulnerability and they no longer travelled alone.

Ms El Matrah said while physical attacks were becoming rare, verbal abuse and such acts as spitting were still happening.

“What we have to do is a great deal of anti-racism education so that people no longer felt they could do that and get away with it.”

The report made several recommendations to the government on how to deal with the problem, including setting up a not-for-profit centre against racism that monitors and evaluates the impact of bigotry, producing a racism survival kit for Muslim women and children and education programmes.

“For women it’s all about a practical response to their situation and their concerns. At the moment it is wait and see, but we are definitely going to pursue the government in this regard.”
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Kelings mistaken for Abos in Melbourne, kena thrashed daily

HAHA they cannot tell u abo or keling lar...just whack first loh.


Australia unsafe? Attacks on Indian students rise. ----------------------------------------

NEW DELHI: Train stations, bus stops, even pavements in and around Melbourne, the Australian city in Victoria which is home to thousands of Indian students, have increasingly turned unsafe with a good number of attacks on migrant youth being reported from the suburbs.

Some of these crimes bear the ‘us-versus-them’ racial overtone while most, according to Victoria Police, come as "assaults and robberies", and many other cases go unreported, possibly for fear of a backlash. The number of Indian students migrating to Australia has seen a continuous rise and over 35,000 boys and girls arrive in the island country every year as securing admission in most of its universities, including 39 run by the government, is much easier.

The Federation of Indian Students in Australia (FISA), which has taken up the concern with Victoria Police, local lawmakers, as well as the Indian government, says the number of attacks, "fortunately directed towards male Indian students only", could be as high as three per day. [...]----------------------------oooOooo---------------------------------- Link… http://timesofindia.indiatimes.com/A...ow/2774771.cms __________________
Last edited by imperialarms; 22-01-2009 at 09:24 PM.
 

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Prepare for a longer Aussie Recession

For those who voted Labor in the last Fed election, we finally see the true face of Labor as "economic experts"

They are doing exactly what US and the UK are doing - giving people money to spend and prolonging the technical recession by intervening into the unions and private sector against the true principle of a free market economy.

Anyway, I stick my middle finger at him when he is at a local function. In Singapore, I would be arrested.

Kevin Rudd confirms $4bn rescue for construction industry
AAP
January 24, 2009 05:44pm


THE Federal Government had to choose between doing nothing to save jobs or joining the big banks in a $4bn partnership to prop up the commercial property sector, Prime Minister Kevin Rudd says.

Mr Rudd confirmed the Government would join the four major Australian banks to set up a $4bn Australian Business Investment Partnership.

The banks will provide $2bn and the Federal government another $2bn to provide financial support for major commercial property projects including shopping centres, office towers and factories.

It would reduce the risk of Australian banks having to "fill the gap'' if foreign banks did not roll over their share of loans, Mr Rudd said at an Australia Day function in Perth.

"Our banks are strong and well capitalised and the (deposit) guarantee has enabled them to raise the funds they need to lend to Australian businesses,'' Mr Rudd said.

"But the Australian economy is global in nature and therefore affected by the health of foreign banks, as well as Australian banks.

"If banks do not allow clients to refinance as they would in normal conditions then companies can be forced to sell assets, often at low value.


Mr Rudd said lending by overseas banks represented half of the $285bn in syndicated loans issued to Australian businesses since 2006.

"Of those outstanding loans $75bn is set to fall due over the next two years,'' he said.

"If foreign banks do not roll over their share of these loans it would be difficult for Australia's four major banks to fill this gap on their own.

"The mathematics is fairly straightforward.''

Foreign banks carried more than $48bn or 28 per cent of lending to the Australian commercial property sector and were seeking to reduce their exposures, Mr Rudd said.

"That is why today the Government confirms that it will establish a $4bn Australian business investment partnership with the four major Australian banks.''

The move was a temporary contingency measure to provide liquidity support to viable major commercial property projects, the Prime Minister said.

The initial $4bn could be extended to up to $30bn of loanable capital through the issuing of government guaranteed debt, he said.

Mr Rudd said there was two options - to sit back and do nothing or act decisively.

"The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said
 
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