The RBA, politicised conmen with a gun to the head of the Australian economy

[Puddy]

They don't just raise mortgage rates.
They change the cash rate, which is the basis for all other rates, including the rates on credit cards.
In days gone by Australian mortgage holders weren't hocked to the eyeballs as they are today.
When you are paying off a large mortgage and living on credit cards, then when the rates for all those things go up, you find yourself in a financial pickle.

. It's clearly not working

 

[Number37]

. It's clearly not working

People kept voting for it.
Now that the chickens are coming home to roost they want to blame everyone but themselves.

 

[peetoo]

Are they for real? Good to know they acknowledge pain out there, bu people want more than sympathy

Shock RBA warning to hit 100 suburbs on watchlist — realestate.com.au

Reserve Bank boss warns more people could be forced to ‘sell their homes’, as new data pinpoints 100 suburbs on a watchlist for reduced price sales.

apple.news

 

[Sqotty from office works]

Are they for real? Good to know they acknowledge pain out there, bu people want more than sympathy

Shock RBA warning to hit 100 suburbs on watchlist — realestate.com.au

Reserve Bank boss warns more people could be forced to ‘sell their homes’, as new data pinpoints 100 suburbs on a watchlist for reduced price sales.

apple.news

If you overborrow you should expect pain at some point.
You can't have the super house, plastic overpriced rubbish furniture, plastic Chinese 4wds , children not walking,riding, or catching bus to school and obviously no parents grandparents advising you of a silly mistake you're making and blame the RBA .
Just laughable.

 

[peetoo]

If you overborrow you should expect pain at some point.
You can't have the super house, plastic overpriced rubbish furniture, plastic Chinese 4wds , children not walking,riding, or catching bus to school and obviously no parents grandparents advising you of a silly mistake you're making and blame the RBA .
Just laughable.

Don’t hold back. Victim blaming is a bad look

 

[Kram]

If you are going to take out a massive loan you really need to do some thinking and research beforehand..

 

[Kram]

Inflation to hit three-year low, but don’t expect a rate cut: Bullock​

Michael ReadEconomics correspondent
Updated Sep 24, 2024 – 5.42pm, first published at 2.45pm
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Reserve Bank governor Michele Bullock says she will ignore data due on Wednesday that is expected to show inflation falling back into the central bank’s target band for the first time in three years, warning government energy rebates will not bring forward an interest rate cut.
Announcing the cash rate had been left on hold at 4.35 per cent, Ms Bullock on Tuesday said a near-term cash rate cut was not on the agenda, despite markets pricing a 76 per cent chance of an interest rate reduction by Christmas.​

 

[peetoo]

‘Not tanking the economy’ oreally?

Not tanking the bits of the economy you give a damn about. The others can eat cake

 

[Seeds]

The state of economic journalism needs to dramatically improve. This writer doesnt even understand why the rba targets core inflation rather than headline inflation. And then he makes negligent predictions of when the RBA will cut rates because he doesnt understand.

The RBA governor has defended not cutting rates. But there's a problem with what she said

Figures released on Wednesday are likely to show inflation is extraordinarily low. They will only add to the pressure on the Reserve Bank governor to cut rates.

www.abc.net.au

 

[Seeds]

Don’t hold back. Victim blaming is a bad look

Its not victim blaming. Over borrowing to fuel house prices and consumption is part of the problem.

 

[sataris]

Chief best be ready to remove this soon to be illegal thread

Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 [Provisions]

On 19 September 2024, the Senate referred the provisions of the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 (the bill) to the Environment and Communications Legislation Committee for report by 25 November 2024. Submiss

www.aph.gov.au

" including harm to public confidence in the banking system or financial markets;"

 

[Chief]

Chief best be ready to remove this soon to be illegal thread

Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 [Provisions]

On 19 September 2024, the Senate referred the provisions of the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 (the bill) to the Environment and Communications Legislation Committee for report by 25 November 2024. Submiss

www.aph.gov.au

" including harm to public confidence in the banking system or financial markets;"

No more pump and dump schemes for you!

 

[Seeds]

Why would it discourage investors? They'll just average the cost to a weekly rate and add it to the rent.

Rent isnt determined that way. Costs rising dont do anything to rents in the short run unless ofcourse rents were artificially low to begin with. In the long run they only boost rents if new builds fall. But land supply releases is the constraint on new builds. Not lack of landlords.

 

[Rotayjay]

If you overborrow you should expect pain at some point.
You can't have the super house, plastic overpriced rubbish furniture, plastic Chinese 4wds , children not walking,riding, or catching bus to school and obviously no parents grandparents advising you of a silly mistake you're making and blame the RBA .
Just laughable.

It's amazing what people start expecting when their income goes up. Oh what? I can't drive a car that's not a brand-new giant SUV. Little Johnny can't choose between football, swimming and judo. I can't have an iPhone that's not the latest one. I can't just have Netflix - need Stan, Amazon, Paramount, Binge and Disney. Can't have a baby without a gender reveal party. Can't have just one bathroom in the house. Can't reach the age of 35 without having botox. Can't reach the age of 18 without getting lip fillers. Can't exercise at home - need a gym membership.

The list never ends.

 

[Rotayjay]

If you are going to take out a massive loan you really need to do some thinking and research beforehand..

In late 2021 I went to an auction. For a good two minutes or more, only two bidders were left, raising the bid by small increments. One bidder finally said they're out after their opponent bid an extra $10,000 or so. The auctioneer said something to the effect, 'Do you want to miss out for 10 grand? At today's interest rates that's about $25 a fortnight!'

A little red flag went up in my head and I thought, 'Well you can't bank on interest rates being at the lowest levels in history forever.' I wonder to what extent the eventual buyer could afford that house.