Certified Legendary Thread Covid, Life, UFOs, Food, & Wordle :(

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Gee Private Health Insurance snuck up quietly. Just received notification that it is going up.

Normally you hear about it in the media, gv't of the day say they are looking at it, then whatever the funds want, gov't looks good by cutting it down but this year have heard nothing.

Did I miss it?
 
Oops...

Not a Good Doctor

Don't need the 2nd Dose now then😉
 
Mar 5, 2002
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Gee Private Health Insurance snuck up quietly. Just received notification that it is going up.

Normally you hear about it in the media, gv't of the day say they are looking at it, then whatever the funds want, gov't looks good by cutting it down but this year have heard nothing.

Did I miss it?

Been on the news.
 
Gee Private Health Insurance snuck up quietly. Just received notification that it is going up.

Normally you hear about it in the media, gv't of the day say they are looking at it, then whatever the funds want, gov't looks good by cutting it down but this year have heard nothing.

Did I miss it?
I hadn't heard about the rise so was also quite (unpleasantly) surprised.
 
Gee Private Health Insurance snuck up quietly. Just received notification that it is going up.

Normally you hear about it in the media, gv't of the day say they are looking at it, then whatever the funds want, gov't looks good by cutting it down but this year have heard nothing.

Did I miss it?
It seems unreasonable as they must have saved heaps last year, considering very few people could actually use the services for the greater part of the year
 
It seems unreasonable as they must have saved heaps last year, considering very few people could actually use the services for the greater part of the year
It's the same with motor vehicle and home insurance. They've all gone up despite people driving a lot less (accidents down) and therefore being at home (house fires, burglaries etc down).
 
It seems unreasonable as they must have saved heaps last year, considering very few people could actually use the services for the greater part of the year

In Australia I think they would have had to pay out less than normal in 2020. But they would base pricing on risk and covid does increase their risk. In some other countries they would have had to pay out a heap more than normal.
 
Jun 10, 2014
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In Australia I think they would have had to pay out less than normal in 2020. But they would base pricing on risk and covid does increase their risk. In some other countries they would have had to pay out a heap more than normal.
The big problem all insurers have currently is low interest rates which is affecting the earnings on their float. Some would say that is their problem, not the policy holders, but an insurer must be able to honor its claims. So they must always have the right to increase base premiums to cover claims. But do the fkers reduce their premiums when they get better returns from their float...
 
The big problem all insurers have currently is low interest rates which is affecting the earnings on their float. Some would say that is their problem, not the policy holders, but an insurer must be able to honor its claims. So they must always have the right to increase base premiums to cover claims. But do the fkers reduce their premiums when they get better returns from their float...

That's a really good point. Years ago, I studied macroeconomics and the inflationary effect of low interest rates, but we never looked at that aspect - companies who make money from investing early payments needing to bump up prices to offset their reduced investment income.

I think you've got a big decision coming - to lecture in epidemiology or economics?
 
Jun 10, 2014
13,808
35,305
AFL Club
Collingwood
That's a really good point. Years ago, I studied macroeconomics and the inflationary effect of low interest rates, but we never looked at that aspect - companies who make money from investing early payments needing to bump up prices to offset their reduced investment income.

I think you've got a big decision coming - to lecture in epidemiology or economics?
I wouldn't want to limit myself to just those two areas, but alas, the world of acadaemia is not a place for me. The new HR policies that seem to be everywhere, well, they appear to be in conflict with my core values.

PS. Inflation might be a theme in Oz in the second half of this year, which might lead onto a rate rising scenario, on a heavily indebted household sector, which might see that housing correction many thought should have already happened...
 
I wouldn't want to limit myself to just those two areas, but alas, the world of acadaemia is not a place for me. The new HR policies that seem to be everywhere, well, they appear to be in conflict with my core values.

PS. Inflation might be a theme in Oz in the second half of this year, which might lead onto a rate rising scenario, on a heavily indebted household sector, which might see that housing correction many thought should have already happened...
We're in the process of getting loan approval to buy a house in SA. I'm now torn about whether I should delay due to real estate investment advice from an epidemiological lawyer with outstanding macroeconomic credentials and astute football club allegiances, despite that clubs stocks currently being low. Is it time to buy or sell Collingwood?
 
Jun 10, 2014
13,808
35,305
AFL Club
Collingwood
We're in the process of getting loan approval to buy a house in SA. I'm now torn about whether I should delay due to real estate investment advice from an epidemiological lawyer with outstanding macroeconomic credentials and astute football club allegiances, despite that clubs stocks currently being low. Is it time to buy or sell Collingwood?
Disclaimer: I have been expecting a housing correction for so long that I cannot be relied upon to make any sense. This inflationary/rate-rising scenario later this year is only my latest theme. Only thing I do know is I don't know.

So buy it - borrow only on a P&I basis (better rate and you get repayment discipline), fixing a good chunk at the 4 year rate which is in the high 1s. Leave enough variable to allow for principal reductions during the fixed rate period. This is a long time to fix, but a 1.99% rate is primo.

As always, the above comes with the proviso that it's all good unless you lose your job. Then you are fkd.
 
Disclaimer: I have been expecting a housing correction for so long that I cannot be relied upon to make any sense. This inflationary/rate-rising scenario later this year is only my latest theme. Only thing I do know is I don't know.

So buy it - borrow only on a P&I basis (better rate and you get repayment discipline), fixing a good chunk at the 4 year rate which is in the high 1s. Leave enough variable to allow for principal reductions during the fixed rate period. This is a long time to fix, but a 1.99% rate is primo.

As always, the above comes with the proviso that it's all good unless you lose your job. Then you are fkd.

A friend of mine in investment claims that the reason why housing and the stock market didn't fall as expected is because with countries printing so much money for stimulus packages noone had any idea what would happen with currency exchange and they still don't really know if there will be a fallout. Thus traditional financial safe havens like bonds and financial accounts were no longer seen as safe havens, particularly when you throw in zero interest rates. Basically nothing became viewed as a safe haven - so they stored wealth in something tanglible - bricks, lands and parts of a company. Meanwhile bitcoin drifted up because bizarrely it is now seen as a relatively safe store of wealth, despite tis short term volatility, because they can't print extra bitcoin - there's a set amount printed each year.

So we are going to buy a house, but not because we have any idea about whether it will be a good investment - we need to try to get enough for retirement, but more importantly just to lock in and not have to think about it.
 
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Jun 10, 2014
13,808
35,305
AFL Club
Collingwood
A friend of mine in investment claims that the reason why housing and the stock market didn't fall as expected is because with countries printing so much money for stimulus packages noone had any idea what would happen with currency exchange and they still don't really know if there will be a fallout. Thus traditional financial safe havens like bonds and financial accounts were no longer seen as safe havens, particularly when you throw in zero interest rates. Basically nothing became viewed as a safe haven - so they stored wealth in something tanglible - bricks, lands and parts of a company. Meanwhile bitcoin drifted up because bizarrely it is now seen as a relatively safe store of wealth, despite tis volatility, because they can't print extra bitcoin - there's a set amount printed each year.

So we are going to buy a house, but not because we have any idea about whether it will be a good investment - we need to try to get enough for retirement, but more importantly just to lock in and not have to think about it.
That'd be the reason. Also known as kicking the can down the road.

If it is an investment property, you might get stung with an investment rate rather than owner occupied. Depending on your appetite/attitudes and because this is an internet forum, I can say you may wish to say you are buying the house to live in - if you don't need the rental income to meet servicing requirements.
 
200 million! Experimental drugs? How many people does non vaccine medical drug get tested on before it is first rolled out? - A heap less.

Well it was already Based on a Vaccine they where making for Normal Covid so they just Changed a Bit not the Whole Thing and Start from Scratch
 
How good was the government to get hold of the vaccine? ;)
The Andrews govt has done a magnificent job of securing Victoria's share and isn't evening giving it to himself early, but bloody ScoMo stuffed up and got us a dud, yet is giving himself the good one.;)
 
The Andrews govt has done a magnificent job of securing Victoria's share and isn't evening giving it to himself early, but bloody ScoMo stuffed up and got us a dud, yet is giving himself the good one.;)

Of Course he give himself the Good/Better One. Only look after Himself is Scommo
 
Of Course he give himself the Good/Better One. Only look after Himself is Scommo
Sorry TD I was taking the piss.

I think the Feds have received too much credit for Australia's covid response in general - I think they got really lucky. But I can't fault their vaccine play. They laid a really good bet on AZ, it may not get up though. Laid off with a really good smaller bet on Pfizer, (unfortunately the bookies aren't taking any more bets on that one for a while). They've since made a really good bet on Noravak or whatever it's called - in case AZ doesn't get up. They're going to get the country as safely and as well vaccinated as early as feasible. In terms of his own vaccination, ScoMo copied what every other leader before Jacinda Ahern had done - made a publicity stunt of taking the vaccine first in order to show his faith in it and to encourage the nation to follow suit and get the jab - I think that was the way to go, it may actually turn a few minds. Andrews's and Ardern's play is a publicity stunt for a different cause - there's no way that it will genuinely help with getting the country vaccinated - but I do like the statement that they're making. I think the Feds have nailed it in terms of the vaccine so far. Fingers crossed it works with all current and future strains
 
The rumour is that State Libs have given their leader until May to turn the boat around, because they fear they're actually going backwards against Andrews.


The fact that the Libs are no chance for power in Victoria before 2026 won't lose me too much sleep at night, but the pandemic has made the job of oppositions around the world more than a bit harder, and that's hardly a cause for joy.
 
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