Korean Girls - What is Going On??

[charmingninjaman]

Also don't forget about the AUD and the Oz economy.

The AUD is probably the worst performing currency in the OECD right now. Been tanking against the USD since 2021, and also tanking against the KRW for the last 1 year. Take a look at the 1-year and 3-year conversion charts of major currencies against the KRW. USD, GBP, EUR, all of them are in the green, but AUD is in the red. That means earning AUD for these girls would be much less desirable than any of those other currencies.

Then there is the Oz economy. This actually relates back to the strength of the currency. Our economy is EXTREMELY fragile because the ultra-high levels of mortgage debt makes it impossible for the RBA to increase the interest rate sufficiently to combat inflation.

People always cry foul about interest rates making life tougher for all, as if it adds to inflation. Well, that's only because our economy was abnormal to begin with. A normal functioning economy shouldn't have had so much invested into mortgage debt, shouldn't have had such high property prices. Now the only tool that can beat inflation has become unusable.

The end result is, our real inflation levels are a lot higher than anywhere else in the world, and our currency is tanking because of it.

Maybe we can think of K-girls in the shops as some sort of "canary in the coal mine", lol...

Yeah our currency exchange rate is definitely getting battered - and all these people crying about their mortgage and hating the RBA for interest rate rises don't understand that we are importing inflation because the RBA has been so TIMID with the rate rises compared with the rest of the world.
I'm in tech - and my expenses for staff and infrastructure has gone up significantly due to our exchange rate. This in turn gets passed on to my customers that are here.