Sunday, August 24, 2008

PPP and My Love Affair with Australia

Ok, so this summer has been a lesson in the different between nominal and real exchange rates. In 2002 when I left my real of australian living, the AUD was approximately US$0.5. Despite higher nominal prices when I converted to usd I was saving tons of money. Now, despite its recent tumble, the AUD is still $0.85. Not only does that mean things are expensive by 2002 standards, it means they are expensive by US standards!! The little noodle shop charges (like a takeout panda express joint) $12!!! This is nuts! The AUD is waaaay over ppp. What's that mean for me? I will not be returning to sydney after this trip until the aud drops a LOT. Fyi the same noodles in indonesia cost about us$0.75.

Meanwhile, modern australian fusion cuisine is a delight! Where else do people insist on drinking wine with every cuisine, including indian and pizza! I'm at a modern oz chinese joint where the word shoyu is sprinkled liberally across the menu. No idea if shoyu has a chinese meaning but in japanese it means "soy sauce". I guess shoyu sounds fancier than soy sauce and that japanese trumps chinese on the "pretensiometer". Sorry Shanghai Tan! On that note, I hate it when I am breaking my ohashi the they don't break evenly and one is shorer than the other.

Today's australian accomplishment: meat pie, flat white

Tomorrows goal for my australian relaxation holiday: vegemite toast, turkish pizza, Cascade