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

[Gralin]

campaigners

 

[greyhound punter]

How dare the rba!

Mortage holders are just trying to get ahead. Where are our unearned capital gains?

 

[adogsfan5]

Timely announcement on cup day.

Bunch of cu*ts.

 

[Number37]

campaigners

What did you expect them to do?

The casino (stockmarket) bet large sums of money on a rate rise.

 

[Gralin]

What did you expect them to do?

The casino (stockmarket) bet large sums of money on a rate rise.

Oh well if the market bet on it I guess they have to do it......

Not like it's their job to decide or anything.

Not like the causes of inflation were things other than the majority of people having too much free cash

 

[Number37]

Oh well if the market bet on it I guess they have to do it......

Not like it's their job to decide or anything.

Not like the causes of inflation were things other than the majority of people having too much free cash

Ever watched the doco "Eat the rich"?

 

[Gralin]

Ever watched the doco "Eat the rich"?

Don't think so

 

[peetoo]

Guessing they've also done no analysis of housing supply shortages leading to huge rent rises with interest rate increases leading to increases in the CPI they are trying to decrease with rate rises.

Too obvious to us economic ignoramuses

 

[peetoo]

Timely announcement on cup day.

Bunch of cu*ts.

That’s only melbourne though?

 

[adogsfan5]

That’s only melbourne though?

Melbournians aren’t the only people in the country who watch the melbourne cup.

Was literally 30 mins before the main race .

 

[Golden_6]

Ahhh yes this interest rate rise will finally be the one to control the price of oil, electricity and increased rents.

 

[Gralin]

god they talk a lot of s**t

Statement by Michele Bullock, Governor: Monetary Policy Decision | Media Releases

At its meeting today, the Board decided to raise the cash rate target by 25 basis points to 4.35 per cent.

www.rba.gov.au

no mention of the actual drivers of inflation

keep talking about too many people having jobs

keep talking about nebulous services rising as the problem

oh and they managed to get a China could be to blame in as well, but yeah the two wars happening right now, nah

 

[Mofra]

Melbournians aren’t the only people in the country who watch the melbourne cup.

Was literally 30 mins before the main race .

The first Tuesday of every month is their standard time though, irrespective of month

 

[Gralin]

The first Tuesday of every month is their standard time though, irrespective of month

yeah and its pretty much always at that time as well as far as I recall

 

[Mofra]

god they talk a lot of s**t

Statement by Michele Bullock, Governor: Monetary Policy Decision | Media Releases

At its meeting today, the Board decided to raise the cash rate target by 25 basis points to 4.35 per cent.

www.rba.gov.au

no mention of the actual drivers of inflation

keep talking about too many people having jobs

keep talking about nebulous services rising as the problem

oh and they managed to get a China could be to blame in as well, but yeah the two wars happening right now, nah

They omit the very important distinction between headline and core inflation too.

Core inflation (which excludes food and energy) is trending down to my view of the figures? We're in the 'mortgage cliff' quarter too which doesn't seem to rate a mention.

 

[Gralin]

They omit the very important distinction between headline and core inflation too.

Core inflation (which excludes food and energy) is trending down to my view of the figures? We're in the 'mortgage cliff' quarter too which doesn't seem to rate a mention.

it almost reads like they are trying to push people off the cliff and tank the economy

they want more people hurting and less people working

this constant attack on wages when wages are growing below inflation and profits are growing above it just reads like business group bullshit

reminds me of Captain Forehead complaining workers aren't afraid enough recently

 

[greyhound punter]

The RBA doesn't care about your massive mortage. That isn't their job. If you can't afford your house, without free money, then sell it. Simple. Personal responsibility. Can you handle that?

Historically, housing does not beat inflation. Let me repeat that for the benefit of my audience.

HOUSING DOES NOT BEAT INFLATION OVER THE LONG TERM.

The enormous growth we have had in housing, the unearned growth i should say, is not the norm, and the reversal to mean will be a sight to behold. We are now in the beginning of that stage.

20 years of lower and lower interest rates - we aren't getting out of this clean.

That is all i have to say on that matter.

We are not returning to the days of 0.1% interest rates - your crappy house will not be growing at 10% p.a (or more), year after year.
Every man, women and non-binary needs to understand that and respect that.

Go and look at a graph of interest rates over the last 100 years. Google it and do it right now.

Look at the oscillations - those beautiful steep rising curves, and then the crashing waves. Gets me up and about let me tell you.

You are a fool if you think interest rates were going to stay low forever - you reap what you sow.

 

[greyhound punter]

it almost reads like they are trying to push people off the cliff and tank the economy

they want more people hurting and less people working

this constant attack on wages when wages are growing below inflation and profits are growing above it just reads like business group bullshit

reminds me of Captain Forehead complaining workers aren't afraid enough recently

No s**t.

The RBA need to be more blunt - if it was me: "We are going to crush real estate speculators by continuing to increase rates until you are forced to liquidate your positions, make it easy on yourself, sell now, housing as a growth asset is dead".

There is so much money sloshing in our economy - we are here to destroy it - by hook or by crook.

Make it easy on yourself. Don't fight us. We are raising rates - get out of the way.

 

[Gralin]

No s**t.

The RBA need to be more blunt - if it was me: "We are going to crush real estate speculators by continuing to increase rates until you are forced to liquidate your positions, make it easy on yourself, sell now, housing as a growth asset is dead".

There is so much money sloshing in our economy - we are here to destroy it - by hook or by crook.

Make it easy on yourself. Don't fight us. We are raising rates - get out of the way.

So you don't have a mortgage and you don't pay rent?

Live at home with mum and dad who are retired?

 

[Golden_6]

The RBA doesn't care about your massive mortage. That isn't their job. If you can't afford your house, without free money, then sell it. Simple. Personal responsibility. Can you handle that?

Historically, housing does not beat inflation. Let me repeat that for the benefit of my audience.

HOUSING DOES NOT BEAT INFLATION OVER THE LONG TERM.

The enormous growth we have had in housing, the unearned growth i should say, is not the norm, and the reversal to mean will be a sight to behold. We are now in the beginning of that stage.

20 years of lower and lower interest rates - we aren't getting out of this clean.

That is all i have to say on that matter.

We are not returning to the days of 0.1% interest rates - your crappy house will not be growing at 10% p.a (or more), year after year.
Every man, women and non-binary needs to understand that and respect that.

Go and look at a graph of interest rates over the last 100 years. Google it and do it right now.

Look at the oscillations - those beautiful steep rising curves, and then the crashing waves. Gets me up and about let me tell you.

You are a fool if you think interest rates were going to stay low forever - you reap what you sow.

How dare people try to put a roof over their head. Apparently now it’s a ‘privilege’ to be able to buy and live in your own home.

 

[Nuggs Bunny]

So you don't have a mortgage and you don't pay rent?

Live at home with mum and dad who are retired?

He's either rich enough to pay cash for a house or blissfully ignorant of his true position in the scheme of things. There's one type of person who benefits from a market crash - people who were already rich.

 

[Gralin]

How dare people try to put a roof over their head. Apparently now it’s a ‘privilege’ to be able to buy and live in your own home.

apparently old mate thinks the only people with mortgages are speculators holding them as investments even though only 30% of properties are investment properties

but we're the ones who need to google

 

[adogsfan5]

The RBA doesn't care about your massive mortage. That isn't their job. If you can't afford your house, without free money, then sell it. Simple. Personal responsibility. Can you handle that?

Historically, housing does not beat inflation. Let me repeat that for the benefit of my audience.

HOUSING DOES NOT BEAT INFLATION OVER THE LONG TERM.

The enormous growth we have had in housing, the unearned growth i should say, is not the norm, and the reversal to mean will be a sight to behold. We are now in the beginning of that stage.

20 years of lower and lower interest rates - we aren't getting out of this clean.

That is all i have to say on that matter.

We are not returning to the days of 0.1% interest rates - your crappy house will not be growing at 10% p.a (or more), year after year.
Every man, women and non-binary needs to understand that and respect that.

Go and look at a graph of interest rates over the last 100 years. Google it and do it right now.

Look at the oscillations - those beautiful steep rising curves, and then the crashing waves. Gets me up and about let me tell you.

You are a fool if you think interest rates were going to stay low forever - you reap what you sow.

What do you mean by “If you can't afford your house, without free money…” ?

 

[E Shed]

What do you mean by “If you can't afford your house, without free money…” ?

I would suggest he means interest free or as good as, loans.
He does make a decent point, if in rather a crude way.
Its having cheap money that has got us to the point where housing is unaffordable for many.

We got to the cheap money point because the credit bubble burst in the GFC and instead of taking the hit and reseting the board the governments and banks of the world reinflated the credit bubble with the biggest sugar hit of quantitive easing and low interest rates in the history of the world. Its long past being theoretical that there is no way the amount of debt sloshing around in the system can ever repaid and that if everyone called their notes in the world would be plunged into the greatest recession its ever seen.

Unfortunately when money gets that cheap to borrow the already and wanna be wealthy borrow huge amounts of it and speculate on assets, including housing which is why we have seen the growth we have.

As usual its the people just trying to get by who are suffering now that the time has come to pay the piper.

We are basically screwed over the long term. Everything survives now because people borrow for everything.
I'm just staggered at how much people I talk to in my work as a counsellor pay every month just to have a roof over their heads and a car and send kids to school and eat and pay bills.

The amount some people spend on car repayments alone just makes my head explode. I drive a 12 year old car I paid cash for.

I have no doubt there are far better ways to curb inflation than raising interest rates but I'm also fairly sure if hadn't had zero interest rates for so long we wouldn't be in the pickle we are with inflated assets prices.

 

[adogsfan5]

I would suggest he means interest free or as good as, loans.
He does make a decent point, if in rather a crude way.
Its having cheap money that has got us to the point where housing is unaffordable for many.

We got to the cheap money point because the credit bubble burst in the GFC and instead of taking the hit and reseting the board the governments and banks of the world reinflated the credit bubble with the biggest sugar hit of quantitive easing and low interest rates in the history of the world. Its long past being theoretical that there is no way the amount of debt sloshing around in the system can ever repaid and that if everyone called their notes in the world would be plunged into the greatest recession its ever seen.

Unfortunately when money gets that cheap to borrow the already and wanna be wealthy borrow huge amounts of it and speculate on assets, including housing which is why we have seen the growth we have.

As usual its the people just trying to get by who are suffering now that the time has come to pay the piper.

We are basically screwed over the long term. Everything survives now because people borrow for everything.
I'm just staggered at how much people I talk to in my work as a counsellor pay every month just to have a roof over their heads and a car and send kids to school and eat and pay bills.

The amount some people spend on car repayments alone just makes my head explode. I drive a 12 year old car I paid cash for.

I have no doubt there are far better ways to curb inflation than raising interest rates but I'm also fairly sure if hadn't had zero interest rates for so long we wouldn't be in the pickle we are with inflated assets prices.

Yeah fair points mate.

I just don’t align with the whole “if you can’t afford your home, stiff s**t” mentality.