The rand is tanking

Ockie said:
Why are some countries allowed to artificially devalue their currencies like China does? Surely that is against some kind of international trade agreements? Why then do other countries float their currencies and let the market determine their value?
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There are probably diplomatic efforts around issues like this, but very few countries (and none of the big ones) will forfeit sovereignty over their monetary policy.
 
Sheesh - almost 21 ZAR to the pound.

cerebus said:
Well, seems like I'm now earning dollars...
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Multi-currency contract?

“What rand decline rate do you get? [...] something in -6% to -10% territory,”
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Thinking I need to speak to family members about restructuring their finances. This isn't going to fly as is...
 
amost R21 to the pound [edit... I see it hit R21 earlier]
 

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China was a big user of resources. Once their economy started tanking you get the knock on effect on countries like SA and Australia.

The mines in SA are really going to struggle now
 
nfbs said:
China was a big user of resources. Once their economy started tanking you get the knock on effect on countries like SA and Australia.

The mines in SA are really going to struggle now
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I hope they fire all those winty mineworkers so they can get real jobs and stop being such arrogant numb nuts.
 
Garson007 said:
Which means people are buying local alternatives? That's a macroeconomic win.
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Yeah, we'll just get our chips from the new $3 000 000 000 fab down the road. What? There isn't one? Well then we'll just get someone to build one, I'm sure they'd love to deal with BEE, power cuts, a lazy workforce with room temperature IQs, an unstable currency, unpredictable government and tiny local market...
 
Drunkard #1 said:
Yeah, we'll just get our chips from the new $3 000 000 000 fab down the road. What? There isn't one? Well then we'll just get someone to build one, I'm sure they'd love to deal with BEE, power cuts, a lazy workforce with room temperature IQs, an unstable currency, unpredictable government and tiny local market...
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... He was talking about Chinese imports, most likely textiles - which, yes, the local market can provide.
 
cerebus said:
Yeah seems like, except it'll be remote for a while. I'm hoping for a long while.. don't much fancy the Bay Area.
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What do/don't you like? I know the area quite well, and although I prefer to live closer to the east coast myself, I could probably make a few recommendations (there's a lot of variation there). PM me if too off topic...
 
Garson007 said:
... He was talking about Chinese imports, most likely textiles - which, yes, the local market can provide.
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Why don't you ask the local textile producers how much they're enjoying the strikes, ridiculous pay demands of unproductive workers, and power failures? Sure, we can provide textiles, but even with the current 70% duties, we're still uncompetitive.

Besides, we consume a lot more than textiles. Every time I buy a TV it's R8 000, I can buy 10 years supply of t-shirts for that money. Every time government buys a steam turbine it's hundreds of millions leaving the country. You're not going to offset these things with textiles, you need high margin goods like Lodox scanners and cars, and manufacturing these things need stability and a pro-business government.
 
cguy said:
What do/don't you like? I know the area quite well, and although I prefer to live closer to the east coast myself, I could probably make a few recommendations (there's a lot of variation there). PM me if too off topic...
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As orbitaldawn said, it's not the area itself, it's the cost of living. My salary to rent ratio is going to go down the toilet, and the CEO said as much. I'm not like a super high powered IT guy currently so I'm on quite an average salary to support a family. The job is in Redwood City area which from my little bit of investigation is quite a roundabout to commute from almost anywhere affordable - closest is probably Fremont.

Eh, I don't mind, I'll move if I have to, but I love the idea of working remotely, even when I'm in the US. Offices are a hassle to me.
 
cerebus said:
As orbitaldawn said, it's not the area itself, it's the cost of living. My salary to rent ratio is going to go down the toilet, and the CEO said as much. I'm not like a super high powered IT guy currently so I'm on quite an average salary to support a family. The job is in Redwood City area which from my little bit of investigation is quite a roundabout to commute from almost anywhere affordable - closest is probably Fremont.

Eh, I don't mind, I'll move if I have to, but I love the idea of working remotely, even when I'm in the US. Offices are a hassle to me.
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You would be looking at $2200-3000/m for a 2 bed rental in Redwood city and a bit under $2000/m in Fremont. $3k in Fremont might also get you a small house (3br). Yeah, the rent is bad, but many things are cheaper which helps to compensate for it (car, gas, Internet, phones, etc.). Another important thing about the U.S.: Try avoid an HMO medical plan if you're offered one - choose a PPO if you have a choice.
 
Alright, at 06:45 this morning it hit R13.7131

It's trading at 13.6669 at the moment, but guess what...

NFP.JPG
 
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