Today is July the 4th in Australia so happy Independence Day for my American followers. The Australian dollar has dropped to a six year low, so its cheaper to visit us. As I've stated previously our waning Mining Boom should see the Australian dollar slide, along with some mixed economic signals out of China. Personally, I can't see how a Communist dictatorship can manage the economy better than the free market in the long run, and my prediction is some type of Japanese style financial shock. The smart money is flowing out of China into our Sydney property market. That's good for us, I actually support the vision of, 'a Big Australia', with higher immigration and a faster growing economy, perhaps increasing our population above fifty million by 2050.
That means of course a bigger Sydney, and thats whats happening already with lots of cranes on the horizon building more apartments and of course our new Barangaroo complex on the harbour, which will be a combination of entertainment and residential apartments including another casino for the high rollers.
As I've said before Sydney is a great base for the Asia/Pacific Region, and there is a big American expatriate population here. If you get the opportunity to get posted here definitely take up the chance to live here for a couple of years, or stay forever. Why, so much Asian Capital is moving here is of course our strong Property Rights based on the English system of law that we inherited of course, similar to the United States. We are a 'safe haven' in this turbulent region.
So, if you thinking about visiting us, now is a great time.
