2022 Off-Topic Chat Thread - PART I - yeah its early but youz'll get over it

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cats_09

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Jun 21, 2011
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After missing out in 2006, good to see that triathlon will be held in Geelong in 4 years time

The Victoria 2026 Commonwealth Games will be the regional games for regional jobs.

Four regional hubs will be established in Geelong, Bendigo, Ballarat and Gippsland, each with an athletes' villages. Shepparton will also host events, and the MCG will host the opening ceremony.

Affordable housing and modern sports infrastructure built for the games will leave a legacy and attract future major events.

And of course, it's going to create thousands of jobs. 600 before the first sports start, 3,900 during the games, and 3,000 beyond the Closing Ceremony.

Victoria 2026 is going to welcome the world to every corner of our state.

Here are the sports so far:

Aquatics (Swimming, Para Swimming and Diving) - Geelong
Athletics and Para Athletics - Ballarat
Badminton - Gippsland
Beach Volleyball - Geelong
Boxing - Ballarat
Cricket T20 - Geelong, Gippsland, Ballarat, Bendigo
Cycling - Gippsland to Bendigo
Gymnastics - Geelong
Hockey - Geelong
Lawn Bowls and Para Lawn Bowls - Bendigo
Netball - Bendigo
Rugby Sevens - Gippsland
Squash - Bendigo
Table Tennis and Para Table Tennis - Geelong
Triathlon and Para Triathlon - Geelong
Weightlifting and Para Powerlifting - Bendigo
 

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cats_09

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Remember, it's that much of a "race" that you must do a dozen different takes each time to ensure the angle for tv...

 

Art Vandelay_

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I do my best impression of one.
I only partly paid attention in that class at Uni, focussing more on Accounting/Auditing.

Explain to me why this wouldn't work, it seems like it shouldn't work long term, and would create more problems than it solves.


A maximum of 3% interest on home loans to save Australian homeownership

Liberal and Labor’s trillion dollars of debt ($1,000,000,000,000 – a million million) will increase home loan rates to 4% in two years and to over 6% in three years.

At 4%, over 60% of Australians will default on their mortgages and will lose their homes. At 6% or more over 80% of Australians will lose their homes.

The real estate market will then collapse and foreign buyers will flood our real estate market as they will have the money to buy up our properties. We have to stop Australians from losing their homes!

The United Australia Party will introduce a maximum interest rate for all home loans of 3% per annum for the next five years to save Australian homeownership.

This is electoral candidate research btw, and the UAP candidate for Corangamite has virtually no info.
 

catempire

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I only partly paid attention in that class at Uni, focussing more on Accounting/Auditing.

Explain to me why this wouldn't work, it seems like it shouldn't work long term, and would create more problems than it solves.




This is electoral candidate research btw, and the UAP candidate for Corangamite has virtually no info.
The interest rate bit is essentially a price cap and when you cap prices you artificially prevent transactions occurring that otherwise would. So it would mean a bunch of people couldn’t get a home loan at all because banks wouldn’t be willing to lend at 3% to them, not that they would get it at 3%.
 

Art Vandelay_

TheBrownDog
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The interest rate bit is essentially a price cap and when you cap prices you artificially prevent transactions occurring that otherwise would. So it would mean a bunch of people couldn’t get a home loan at all because banks wouldn’t be willing to lend at 3% to them, not that they would get it at 3%.
The cash rate set by the RBA is affected by market forces, and it fluctuates based on numerous factors. This seems to me to be market manipulation that after that 5 years is up could make things worse.

Hypothetically if the economy is progressing over the next 5 years in a direction that sees the RBA increase the rate numerous times, going beyond 3%. let's say to 4.25%. 5 years expires. Cash rate that banks charge home loan customers then has to jump from the UAP capped 3% max and jump massively in one hit to 4.25% that it should have been does it not?

I would have thought that the independent RBA was in place as to stop government manipulation making things worse in the long term as politicians will always take their short term vested interests over the long term. Self preservation 101.
 

catempire

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The cash rate set by the RBA is affected by market forces, and it fluctuates based on numerous factors. This seems to me to be market manipulation that after that 5 years is up could make things worse.

Hypothetically if the economy is progressing over the next 5 years in a direction that sees the RBA increase the rate numerous times, going beyond 3%. let's say to 4.25%. 5 years expires. Cash rate that banks charge home loan customers then has to jump from the UAP capped 3% max and jump massively in one hit to 4.25% that it should have been does it not?

I would have thought that the independent RBA was in place as to stop government manipulation making things worse in the long term as politicians will always take their short term vested interests over the long term. Self preservation 101.
A bit to unpack here and more than I have time for on Easter Saturday!
 

catempire

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The cash rate set by the RBA is affected by market forces, and it fluctuates based on numerous factors. This seems to me to be market manipulation that after that 5 years is up could make things worse.

Hypothetically if the economy is progressing over the next 5 years in a direction that sees the RBA increase the rate numerous times, going beyond 3%. let's say to 4.25%. 5 years expires. Cash rate that banks charge home loan customers then has to jump from the UAP capped 3% max and jump massively in one hit to 4.25% that it should have been does it not?

I would have thought that the independent RBA was in place as to stop government manipulation making things worse in the long term as politicians will always take their short term vested interests over the long term. Self preservation 101.
So, a couple of thoughts.

In theory, yes I think you’re right. If rates were held down artificially for a period then you’d expect them to bounce back to their real level after the regulation ended.

However, per my earlier response, what we would expect to happen if banks were prevented from setting rates above 3% is that they’d stop or significantly reduce supplying mortgages. So in practice it’s unlikely that you’d have rates held down and then jumping up; they just wouldn’t be lending.

In general any sort of price regulation doesn’t often work well. If you cap prices you simply create shortages of the product you’re trying to regulate. So also agree with you that the government shouldn’t be playing with mortgage rates. Leave it up to market forces, the RBA and the banks.
 

Sensible Cat

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Wouldn't banks just put their money into the debt market if the rates were above 3%?
Government bonds and other safe debt etc.
Rather than lend to people who may possibly default and only get 3%?
 

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cats_09

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Just read this review on TripAdvisor - someone not happy with other people enjoying their experience at the restaurant

Beige and previous reviewers need to be mindful that their ratings are not helpful
I reviewed previous feedback and maybe this made me feel that this was going to be an experience better than what it was. It is a good local restaurant - all four patrons rated the their meals about 6/10, pork belly, pasta and steak, average at best. Not the experience I was expecting, service was mediocre, food average, prices ok and beverage list ok. I certainly wouldn’t rave about it, there are limited local opportunities, so please keep this in mind when selecting. I don’t want to be disrespectful to other reviewers, but for me, would I go back, the answer would be no.
 

cats_09

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1650190456231.png
 

BotsMaster

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Tribute song to Leslie "Bull" Allen. Australian medic that saved many lives at PNG in WWII.


Lest we forget.
 

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