And all the generations to come for at least the next 50 years, I honestly believe Australia will never be debt free again, the politicians have made a complete mess of Australia.
You blame labor. All world leaders are puppets and follow orders from the elite that hide behind the scenes. It’s all part of a bigger plan to depopulate the earth.
Absolutely agree. People need to study! If you are dumb enough to buy a house: 1. in the second most expensive country in the world at 12.5 income/price ratio (only Hong Kong is more expensive. Average worldwide is 5.5!) 2. at low interest rate (where do you think they will go if they are near 0?) 3. in a country which has variable interest rates (a lot of countries in the world have fixed - yes fixed - interest rates for the life of the mortgage!) 4. made out of matchsticks and glue - which will fall apart in 25-30 years! 5. made by people with appalling skills 6. horrific toy-like materials tough luck. Now to the topic of inflation. Learn: DEBT CREATES IN INFLATION! Do you realise what this means? It means that if you took out a mortgage YOU created debt, meaning YOU created the inflation. Blame no one but yourself. To quote Michael Jackson: "I'm starting with the man in the mirror". But seriously, educate yourselves. Learn. It's not hard.
@amipresent1, an individual who accepts a loan is not responsible for inflation. Inflation is an expansion in the money supply, unless a home buyer is also running a counterfeiting ring then they are not responsible.
@@patrickhenry7721 Are you sure? Where do you think the currency the bank gives you to purchase the home comes from then? The bank certainly doesn't have it.
I work full time at a big corporation. My monthly pay does not even cover my home loan. It used to be 3000 a month, I’m paying 6600 now and looking for a second job. I’m fairly certain they do this on purpose. Inflation is just a term for their manipulation of markets to funnel money back to the big boys. Is this supposed to be called a life ?
Hi, as I wrote above: People need to study! If you are dumb enough to buy a house: 1. in the second most expensive country in the world at 12.5 income/price ratio (only Hong Kong is more expensive. Average worldwide is 5.5!) 2. at low interest rate (where do you think they will go if they are near 0?) 3. in a country which has variable interest rates (a lot of countries in the world have fixed - yes fixed - interest rates for the life of the mortgage!) 4. made out of matchsticks and glue - which will fall apart in 25-30 years! 5. made by people with appalling skills 6. horrific toy-like materials tough luck. Now to the topic of inflation. Learn: DEBT CREATES IN INFLATION! Do you realise what this means? It means that if you took out a mortgage YOU created debt, meaning YOU created the inflation. Blame no one but yourself. To quote Michael Jackson: "I'm starting with the man in the mirror". But seriously, educate yourselves. Learn. It's not hard.
V@@amipresent1people need to take out mortgages so they can have somewhere to live, how people many have a $600000 in cash lying around to buy a house or apartment
@@amipresent1there's a housing crisis so if that YOU person your talking of didn't buy the house, someone would of. And very few regular people have enough cash in bank to buy a house outright. They can't build them fast enough for the demand. With immigration also making it worse
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
Forged data on Inflation and unemployment. next month the RBA Governor will stick gum on her chair and say inflation is sticky. Albo must buy her specs from Specsaver .
So, interest rates go up - theyve been historically low for several years, you knew the risks when you got a mortgage, and at least you own a house, and the money you pay each month goes to the house you own. You are relatively lucky vs those of us stuck renting propping up the country's appallingly unfair housing market. Propping up your assets.
I'm considering living out of a mini-van, or buying a cheap acre somewhere and living in a tent. That is privilige in contemporary Australia for someone who has a university degree and access to high paying jobs. As I get older the thought of a living in a mini-van is much preferable to a share house, as it is to paying obscene rental fees for a 1 bedroomer or a mortgage.
C'wealth Govt exists to manage OUR C'wealth. ITS NOT THEIRS. Why are OUR managers-in-trust on OUR behalf failing to "make this C'wealth of OURS renown of all the Lands"? (2nd verse Adv Aust Fair)
This debt has been rolling over for decades now. Housing markets should have crashed in great financial crash, but it didn't both governments are responsible
No in Australia the Liberal Party are the conservatives like the republicans and the Labor Party are like woke democrats who love to talk about gender and let in millions of immigrants during a cost of living crisis
if things are so bad, why house prices are still hitting all time high with every sale. we are being told its cost of living crisis..where are these extra $$$ coming from then . can anyone explain please
Well I’m probably talking out of my ass here…. 1: The law about auction in Australia have something to do with it, shitty business going on for sure. 2: not enough house and fomo 3: it borrowed money, bank will give you a loan. If you, your wife your kids, all working to pay it back, not everyone got their own place and sometimes 3 generations live under the same roof. If you can’t pay it back then they just take the house, they got the paperwork anyway. You don’t actually own the place till it pay off😅 4: money from overseas, Australia is a safe heaven compared to other countries in the world. 5: money from mum and dad house equity ( assuming their kids have good job ) 6: people with a lot of business and they can afford to buy a house every year ( rent it out after ). True story, I use to work for one. They in the business of construction ( housing material ) just the warehouse rent is cost over 30-40k a month 7: it not what you know, it WHO you know🤷🏻 Ok that all I got, I’m sure there more to it but it above my pay grade 🤣🤣🤣 if anyone like it then give me a 👍, if you think I talked shit then feel free to have a go at me😅 I’m here to learn too
Don’t believe everything you hear from realestate sales. I bought house 4 years ago and it’s still valued around same price. Live in Town house same as others in a row of ten. Some others bought in 2019 and still selling at same price as then. So not all properties increase in value
I remember paying 14%interest on a mortgage during another Labor fiasco government. Worked two jobs and paid off my mortgage, no holidays, no days off. I did it.
If almost one-third of large corporations paid no income tax in Australia, including more than half of the nation’s major mining, energy and water companies... Could they maybe alleviate some of our woes by having stricter taxing on these types of companies and international businesses not contributing taxes? Just a thought, maybe I'm missing something?
When I was a young man working in mines underground the interest rate on my car loan was 22% my house loan was 18% and I was paying 51 cents in the dollar tax. It can be worse.
@@ThatGuy-ze5kk don’t get me wrong, I’m on your side. House prices are an absolute joke, but the days of getting a house for 400k are over. We can either rent for life, worrying every 6 months about getting kicked out or the rent being hiked, or pay $1m for a home and have a roof over our head - we don’t want this at all but it’s the lesser of 2 evils. I don’t see any relief on the horizon.
Bish bosh who has got time to worry about silly interest rates when the government is far to busy welcoming Palestinians and all the crap associated with hamas .🤬🤬
Chalmbers will just blame inflationary spending by the previous government during COVID. Doubt it would have mattered who was in government. RBA left rates too low for too long . Leave rates and raise the GST until things settle as raising the GST will hit the ones who have the money to spend
I'd really like to see the polliies do their part, considering they're responsible for this mess. A 20% pay cut and paying for their own travel and accomodation would be a good start. It's obvious they couldn't care less about tax payers, but love throwing our hard earned money around.
And hence the Interest Rates are Unchanged. When the Cost of Living Crisis do go up the Lending Rates are to go Up as the Freeze in Capital Spending isn't good for some but generous for others. The Capital Spending is the one that drives the Real Economy but with the Lending Rates its gonna bloat the Economy for where the Pay Rises and Costs' Increases do need to be borne by the Australian Citizens. This results in burn of their Savings but when unregulated pushes the Economy towards the Downturn but indeed meant for the events of Payouts but holded at the Right Rate considered to be Moderated do give rise to the Growth in the Economy.
The reserve bank interest rate is the BASE rate, thevRB lends money to commercial banks and lending institutions who put their client rates on top of thatvwhich can be up to another five percent depending on your credit rating
Interest rates are NOT high, they’ve barely normalised. The debts, public and private, are sky-high because of the time-preferencing and skewed incentives from artificially low interest rates held too low for too long. And prices are too high because of it, plus the increase in the currency supply. Add on the fiscal policy issues, like mass immigration, and, well… you get more inflation, the real rate is more negative than it would have otherwise been. Please… for the sake of us priced out of housing… stop it, we need higher rates - actually positive real - to actually properly correct this.
As you can probably tell from my following comment, I don’t know that much about economics but interest rates are not that high by historical standards. I feel for people struggling, I myself seem to be treading water, however, people were naive to think that interest rates would stay at zero or very low for the long term. My problem is with skyrocketing house prices and low wages. We have been trying to buy a house for years and years and having to up our budget every few months or look further and further out. Government is responsible for not regulating immigration, foreign ownership and property auction and pricing systems. Shame on them.
Sky, what are you doing? Interest rates need to rise. Inflation is too high. That’s the governments fault. The audience may not like it but it’s the right thing to do. If you over paid for your house, that’s sad but you shouldn’t have. That simple
Not sure why people are complaining. They voted Labor who allowed so many people in without considering where they would live. Keep building tent cities.
People build these monstrosities of houses then cry poor. For years people that have taken on huge debt and have been rewarded for it. About time conservative people that save and work hard are payed there dues.
We the people need to have the right to hold individual politicians accountable legally for what they promise and their policies not just voting rights. Everyone other than politicians/ civil servants are doing it really tough.
No bloody wonder the place is stuffed. Have these people actually stepped outside bullshit castle and actually spoken to the general public in relation to daily issues. I suggest not.
RBA have no clue. Lasy year the RBA lost 43billion. Rates don't need to be lower, retired people should earn interest on their savings and home buyers can borrow what they can afford.
Agree with you every time Paul! And on the topic of the forgiving of hecs debt???? I started working at age 13 and after years of non stop hard long work, I paid my hecs debt right down to the last cent. It took me 10 years but it's gone. I bought my first home 13 years ago and whilst trying to provide full time care to my mother, i also worked part time to pay my mortgage. I sadly lost my mum to covid ,18 months ago and when my carers pension stopped, I could not afford my payments with part time work. So I sold my home and was lucky to be able to clear my mortgage and buy a very downgraded quality and size of a home outright. This of course left me with no $$$. However for the first time in 30 years of working, I have been unemployed. Now 18 months later and hundreds upon hundreds of job applications submitted later (of which I never heard from again) and I'm living below the poverty line. Even without mortgage payments, I can't manage the basics. My first time in jobseeker payment and I can't for the life of me comprehend , why the government believes that job seekers (who have to invest in transport,technology, dress etc for find work,) can survive on a $360 a week, when it is estimated that an individual required at least $750 a week to meet the basic cost of living during the pandemic. Now cost of living has gone up faster than a speeding bullet- but jobseeker payments are frozen in time. Well since they are forgiving HECS debt, does that mean that they will refund the $28,000 of hecs debt that I repaid to them? Surely not?? We don't live in an era of fairness, common sense and equality. Well I think the government's next campaign signs should say this : 1+1=2 Too bad suckers!
The cost of living crisis has got worse Grim Jim since you became treasurer and Elmer Fudd took government,,, when are all the plans Albo had to fix everything going to start?? Oh and thanks for my $275 electricity saving,,,,it's gone up over $500,,,😢
I guess other Countries are worse UK NZ etc would be glad to have rate at 4.3 You seem to forget that people have overstretched themselves . Want big houses. Maybe if people just held back and stopped paying rediculious amounts of money for houses the prices could come down I feel sorry for the people struggling due to loss of job or Health reason but have no sympathy for those that want a champagne life on a beer budget. Wanting large houses seems to be a problem in Australia. If they built a normal size. house I guess their mortgage would be cheaper. .
Just vote for any party except Labor or Liberal. It doesn't make any difference (Just the same old problems again and again). Both are useless. I will vote for anything but these 2 parties. Maybe gay, lesbian or marijuana parties would be fun.
I thinks it’s the optics, when people are struggling, why would he give himself a pay increase, I’m sure the government during the Great Depression wouldn’t or didn’t take a massive pay increase when their fellow countrymen were most likely at a soup kitchen, which nowadays is a food bank. I’m a QLD state employee and I remember we were into two years into eba negotiations, but the chook threw us under the bus to say we were greedy. My local council has just put the rates up by 6.9%, just when people are already struggling, I have live on a budget, why can’t they live by one in both local, state and federally. Half my salary this week went to taxes and let’s not forget I will have to purchase other stuff and I’ll be paying GST on it, so that they can pay for their hair-brained schemes or for someone that refuses to work, quite frankly all levels of government are awful. But remember they are following their WEF doctrine, us plebs will have nothing and be thankful for it.
Love how she says we won't hesitate to raise intrest rates. How do you expect people who bust there ass pay enough ta.x where is our money going. Way to much debt stop punishing Aussies and expecting them to fit the bill. Those extra cash figures are unbelievable a slap in the face. If this continues its over. Lost your house and addressing your housing shortage situation You sting us with food prices baked beans is all I eat at least three times a week . Not good enough.
Interest rates under Paul Keating was 18 percent and everything was fine. The reason things are not ok now is because of inflation due to not being on a gold standard. We do not have the gold to back up the money we spend as a nation each year. That is the real reason inflation is so high 👍
Paul. Will you stop Banging on about Rates. They are still very cheap. If you can’t pay your mortgage you borrowed and Paid Tooooooo Much for housing. GM
Go woke, go broke. Australia has gone full woke!
What has the insane housing market and the deindustrialization of Australia have anything to do with woke ?
💯
The world has fallen apart. Everyone on this earth is struggling due ALL of our leadership.
no leaders, just pawns of the bankers.
We are totally FU#@ED!
And all the generations to come for at least the next 50 years, I honestly believe Australia will never be debt free again, the politicians have made a complete mess of Australia.
@@nedabo69 THAT WAS THEIR JOB, spend that political capital (BETRAY US)
Immigrantion isnt being resolved.
Too late..Labor fkd us over….
AGAIN...
You blame labor. All world leaders are puppets and follow orders from the elite that hide behind the scenes. It’s all part of a bigger plan to depopulate the earth.
albo told charmers to look for an economic plan in boxes of weeties because albos looking in boxes of cornflakes for his plan
What about being charged $23 for a $20 overdrawn account from commonwealth bank
They're super greedy. Leave them
Take your cash out ,stop using cards and phones to make payments.
In 1973 Pierre Trudeau (prime minister) sold out Canada to american banking and we have been going down hill ever since. We are doomed.
The big greedy banks strike again,,, the billions of dollars of profit aren't enough for them,,,, they are a disgrace!
This is all starting to get way out of control now.
You have it easy compared to Europe !
@@Finness894 I don't give a flying pig shit about Europe it's not where i live, fuck any other countries.
Well said, good job. The Labour and Green should go.
We’ve had enough of the inflation.
Don’t care about interest rates because I’m not up to the eyeballs in debt
Yes, the balloon has gone up with Labor. (Pun intended).
Absolutely agree. People need to study! If you are dumb enough to buy a house:
1. in the second most expensive country in the world at 12.5 income/price ratio (only Hong Kong is more expensive. Average worldwide is 5.5!)
2. at low interest rate (where do you think they will go if they are near 0?)
3. in a country which has variable interest rates (a lot of countries in the world have fixed - yes fixed - interest rates for the life of the mortgage!)
4. made out of matchsticks and glue - which will fall apart in 25-30 years!
5. made by people with appalling skills
6. horrific toy-like materials
tough luck. Now to the topic of inflation. Learn: DEBT CREATES IN INFLATION! Do you realise what this means? It means that if you took out a mortgage YOU created debt, meaning YOU created the inflation. Blame no one but yourself. To quote Michael Jackson: "I'm starting with the man in the mirror".
But seriously, educate yourselves. Learn. It's not hard.
@amipresent1, an individual who accepts a loan is not responsible for inflation. Inflation is an expansion in the money supply, unless a home buyer is also running a counterfeiting ring then they are not responsible.
@@patrickhenry7721 Are you sure? Where do you think the currency the bank gives you to purchase the home comes from then? The bank certainly doesn't have it.
@@patrickhenry7721 Hi, still waiting on a reply since you know so much.
legal criminals….that’s the australian government.
I work full time at a big corporation. My monthly pay does not even cover my home loan. It used to be 3000 a month, I’m paying 6600 now and looking for a second job. I’m fairly certain they do this on purpose. Inflation is just a term for their manipulation of markets to funnel money back to the big boys. Is this supposed to be called a life ?
Inflation is state sanctioned theft of hard working people's money!
Hi, as I wrote above:
People need to study! If you are dumb enough to buy a house:
1. in the second most expensive country in the world at 12.5 income/price ratio (only Hong Kong is more expensive. Average worldwide is 5.5!)
2. at low interest rate (where do you think they will go if they are near 0?)
3. in a country which has variable interest rates (a lot of countries in the world have fixed - yes fixed - interest rates for the life of the mortgage!)
4. made out of matchsticks and glue - which will fall apart in 25-30 years!
5. made by people with appalling skills
6. horrific toy-like materials
tough luck. Now to the topic of inflation. Learn: DEBT CREATES IN INFLATION! Do you realise what this means? It means that if you took out a mortgage YOU created debt, meaning YOU created the inflation. Blame no one but yourself. To quote Michael Jackson: "I'm starting with the man in the mirror".
But seriously, educate yourselves. Learn. It's not hard.
V@@amipresent1people need to take out mortgages so they can have somewhere to live, how people many have a $600000 in cash lying around to buy a house or apartment
@@amipresent1there's a housing crisis so if that YOU person your talking of didn't buy the house, someone would of. And very few regular people have enough cash in bank to buy a house outright. They can't build them fast enough for the demand. With immigration also making it worse
@@BOMHOLIO Have you ever thought about WHY there's a banking crisis? Have you ever read Milton Friedman ot Thomas Sowell?
Cash rate is.L not high. The debt is massive. Labor and liberals are terrible
Both parties are the same.
The right choice of an investment has always been a big problem for me I know picking a wrong investment will leave a big scar in the future...
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
nice! once you hit a big milestone, the next comes easier. How can i reach him, if you don't mind me asking?
It's not Labor's fault, it never is!!!
Off course not. Elmer's word is his bond you know.
When will everyone learn that interest rates aren't the problem, too much debt is the problem..and heres a tip.. live within your means...
Hear, hear!
I really can’t take anymore, income vs expenses, nothing left
If 4 million people in Australia are struggling to put food on the table, what stats are the RBA board members looking at…..
labor government's spending
Their profits.
The other third of the population that are mortgage free watching their savings rate increase
Forged data on Inflation and unemployment. next month the RBA Governor will stick gum on her chair and say inflation is sticky. Albo must buy her specs from Specsaver .
If people didn't over pay stupid prices for house then they would come down 🙄
What kind of weasel blames the people
So, interest rates go up - theyve been historically low for several years, you knew the risks when you got a mortgage, and at least you own a house, and the money you pay each month goes to the house you own. You are relatively lucky vs those of us stuck renting propping up the country's appallingly unfair housing market. Propping up your assets.
Exactly - this is disgraceful from Sky, but typical. They always cheer for lower rates.
I'm considering living out of a mini-van, or buying a cheap acre somewhere and living in a tent. That is privilige in contemporary Australia for someone who has a university degree and access to high paying jobs. As I get older the thought of a living in a mini-van is much preferable to a share house, as it is to paying obscene rental fees for a 1 bedroomer or a mortgage.
Wake me up when rates and unemployment are over 10%. Seriously things are nowhere near as bad as what is being peddled on the news.
Wake me up when housing prices were at the price when interest rates were 10%
Meanwhile, people with surplus money are benefiting from their ever increasing interest income.
Investor rates have been cut
@petermurphy2167 a clue that RBA will cave and cut cash rate this year
6 days leave to burn gum leaves...?
GOD i wish i could tick that box!!!🤣
C'wealth Govt exists to manage OUR C'wealth. ITS NOT THEIRS. Why are OUR managers-in-trust on OUR behalf failing to "make this C'wealth of OURS renown of all the Lands"? (2nd verse Adv Aust Fair)
The rich get richer.
This debt has been rolling over for decades now. Housing markets should have crashed in great financial crash, but it didn't both governments are responsible
The housing market fell, not crashed in W.A. during the GFC. But it did bounce back, albeit it did take a while for it to happen.
Wait so is the right in Australia similar to the left in America?
No in Australia the Liberal Party are the conservatives like the republicans and the Labor Party are like woke democrats who love to talk about gender and let in millions of immigrants during a cost of living crisis
Well they do drive on the left side of the road. Right?😮
A migrant recently paid $1 million for an average block of land in Adelaide!
How can anyone expect to keep inflating the property bubble while curbing inflation at the same time?...
Exactly - idiotic.
Trasurer Chalmers talking economics, a subject he never studied
I know he's lying, coz his mouth was moving 😌
if things are so bad, why house prices are still hitting all time high with every sale. we are being told its cost of living crisis..where are these extra $$$ coming from then . can anyone explain please
Well I’m probably talking out of my ass here….
1: The law about auction in Australia have something to do with it, shitty business going on for sure.
2: not enough house and fomo
3: it borrowed money, bank will give you a loan. If you, your wife your kids, all working to pay it back, not everyone got their own place and sometimes 3 generations live under the same roof. If you can’t pay it back then they just take the house, they got the paperwork anyway. You don’t actually own the place till it pay off😅
4: money from overseas, Australia is a safe heaven compared to other countries in the world.
5: money from mum and dad house equity ( assuming their kids have good job )
6: people with a lot of business and they can afford to buy a house every year ( rent it out after ). True story, I use to work for one. They in the business of construction ( housing material ) just the warehouse rent is cost over 30-40k a month
7: it not what you know, it WHO you know🤷🏻
Ok that all I got, I’m sure there more to it but it above my pay grade 🤣🤣🤣
if anyone like it then give me a 👍, if you think I talked shit then feel free to have a go at me😅 I’m here to learn too
Don’t believe everything you hear from realestate sales. I bought house 4 years ago and it’s still valued around same price. Live in Town house same as others in a row of ten. Some others bought in 2019 and still selling at same price as then. So not all properties increase in value
@@stman63438 yup there some shady shit going on with the housing market in Australia.
Foreign buyers. FIRB were told to look the other way where they suppose to not allow foreigners buying existing homes
I agree 👍@@Ryan-tm6zm
They don’t represent us, and everyone knows.. Australia has become a Clown Show 😢
Oh man in the us i feel the same 😢
I remember paying 14%interest on a mortgage during another Labor fiasco government. Worked two jobs and paid off my mortgage, no holidays, no days off. I did it.
Lol I locked my rates for 5 years at 7% 2 years ago
Lol. We renegotiate below 6% and not fixed.
If almost one-third of large corporations paid no income tax in Australia, including more than half of the nation’s major mining, energy and water companies... Could they maybe alleviate some of our woes by having stricter taxing on these types of companies and international businesses not contributing taxes?
Just a thought, maybe I'm missing something?
Norway must be the goated country to be born in.
When I was a young man working in mines underground the interest rate on my car loan was 22% my house loan was 18% and I was paying 51 cents in the dollar tax.
It can be worse.
Were there working class families living in tents along the Brisbane river at this time?
Things are far worse now than the early 90’s.
No but the unemployment rate was pretty high, funny that.
same mate, the difference was we didn't drive a $40,000 car and buy a $1.5 million 'starter' home.
people got a little reckless!
@@ThatGuy-ze5kk Biggest problem we have is the government is being held accountable for everything.
Where are the 4 million a year CEOs 🤔
@@ThatGuy-ze5kk don’t get me wrong, I’m on your side. House prices are an absolute joke, but the days of getting a house for 400k are over. We can either rent for life, worrying every 6 months about getting kicked out or the rent being hiked, or pay $1m for a home and have a roof over our head - we don’t want this at all but it’s the lesser of 2 evils.
I don’t see any relief on the horizon.
Worlds greatest spectator.....Grim Jim
According to the 2021 Census, there were 9.275 million households in Australia. 4 million households is nearly half!
Everyone needs a pay rise but no! no! no! thats inflationary. But who gets a pay rise???
The politicians of course.
Nah, man, we need tax cuts more than payrises.
@@emmentkr16 100% man.
Bish bosh who has got time to worry about silly interest rates when the government is far to busy welcoming Palestinians and all the crap associated with hamas .🤬🤬
Chalmbers will just blame inflationary spending by the previous government during COVID. Doubt it would have mattered who was in government. RBA left rates too low for too long . Leave rates and raise the GST until things settle as raising the GST will hit the ones who have the money to spend
Talk about the GOVERNMENT laughing at the public.!!
I'd really like to see the polliies do their part, considering they're responsible for this mess. A 20% pay cut and paying for their own travel and accomodation would be a good start. It's obvious they couldn't care less about tax payers, but love throwing our hard earned money around.
And hence the Interest Rates are Unchanged.
When the Cost of Living Crisis do go up the Lending Rates are to go Up as the Freeze in Capital Spending isn't good for some but generous for others.
The Capital Spending is the one that drives the Real Economy but with the Lending Rates its gonna bloat the Economy for where the Pay Rises and Costs' Increases do need to be borne by the Australian Citizens.
This results in burn of their Savings but when unregulated pushes the Economy towards the Downturn but indeed meant for the events of Payouts but holded at the Right Rate considered to be Moderated do give rise to the Growth in the Economy.
Blah Blah Blah...When All the Debt Slaves are sleeping.
All good reasons to vote One Nation.
The banks an government are not our friends.
Too bad and sad. The days of negligible rates are long gone.
The days of negligible rates are well and truly over......never to return!
So they all lie what's your other point.
The reserve bank interest rate is the BASE rate, thevRB lends money to commercial banks and lending institutions who put their client rates on top of thatvwhich can be up to another five percent depending on your credit rating
Very Good Paul, that sequence almost made me black out, not good for people with this illiness..just saying
Heard petrol is going up !😊
Oh yawn. How much longer do.we need to.hear this?
Interest rates are NOT high, they’ve barely normalised. The debts, public and private, are sky-high because of the time-preferencing and skewed incentives from artificially low interest rates held too low for too long. And prices are too high because of it, plus the increase in the currency supply. Add on the fiscal policy issues, like mass immigration, and, well… you get more inflation, the real rate is more negative than it would have otherwise been.
Please… for the sake of us priced out of housing… stop it, we need higher rates - actually positive real - to actually properly correct this.
This Government unfortunately is in so deep with it's Green Energy policy it can't and won't stop spending.... Ego!
Keep raising the interest rates!! They are way below reasonable.
If you borrowed up to your eyeballs, then that’s your stupidity.
The Australian people need a circuit breaker. The circuit breaker is an Election!!!
This government is nothing but a joke.governor of rba sits on 1.1mil anual salary and no wander that she can afford high interest rates.
As you can probably tell from my following comment, I don’t know that much about economics but interest rates are not that high by historical standards. I feel for people struggling, I myself seem to be treading water, however, people were naive to think that interest rates would stay at zero or very low for the long term. My problem is with skyrocketing house prices and low wages. We have been trying to buy a house for years and years and having to up our budget every few months or look further and further out. Government is responsible for not regulating immigration, foreign ownership and property auction and pricing systems. Shame on them.
Iba is not under the government mo.no
Sky, what are you doing? Interest rates need to rise. Inflation is too high. That’s the governments fault. The audience may not like it but it’s the right thing to do. If you over paid for your house, that’s sad but you shouldn’t have. That simple
Not sure why people are complaining. They voted Labor who allowed so many people in without considering where they would live. Keep building tent cities.
What is fuelling inflation?
-rich mfs spending money
-cost of petrol
-cost of groceries
-cost of energy bills
People build these monstrosities of houses then cry poor. For years people that have taken on huge debt and have been rewarded for it. About time conservative people that save and work hard are payed there dues.
We the people need to have the right to hold individual politicians accountable legally for what they promise and their policies not just voting rights. Everyone other than politicians/ civil servants are doing it really tough.
No bloody wonder the place is stuffed. Have these people actually stepped outside bullshit castle and actually spoken to the general public in relation to daily issues. I suggest not.
RBA have no clue. Lasy year the RBA lost 43billion. Rates don't need to be lower, retired people should earn interest on their savings and home buyers can borrow what they can afford.
Can we remove these charlatans now!!
Interest rates aren't even that high! If you're struggling its becuase your poor
Paul get a government job and stop whinging it's un Australian.
Agree with you every time Paul!
And on the topic of the forgiving of hecs debt????
I started working at age 13 and after years of non stop hard long work, I paid my hecs debt right down to the last cent. It took me 10 years but it's gone. I bought my first home 13 years ago and whilst trying to provide full time care to my mother, i also worked part time to pay my mortgage. I sadly lost my mum to covid ,18 months ago and when my carers pension stopped, I could not afford my payments with part time work. So I sold my home and was lucky to be able to clear my mortgage and buy a very downgraded quality and size of a home outright. This of course left me with no $$$.
However for the first time in 30 years of working, I have been unemployed. Now 18 months later and hundreds upon hundreds of job applications submitted later (of which I never heard from again) and I'm living below the poverty line.
Even without mortgage payments, I can't manage the basics. My first time in jobseeker payment and I can't for the life of me comprehend , why the government believes that job seekers (who have to invest in transport,technology, dress etc for find work,)
can survive on a $360 a week, when it is estimated that an individual required at least $750 a week to meet the basic cost of living during the pandemic.
Now cost of living has gone up faster than a speeding bullet- but jobseeker payments are frozen in time.
Well since they are forgiving HECS debt, does that mean that they will refund the $28,000 of hecs debt that I repaid to them?
Surely not?? We don't live in an era of fairness, common sense and equality.
Well I think the government's next campaign signs should say this :
1+1=2
Too bad suckers!
How does increasing bank profits ,executive bonus's and shareholder returns help Australians.
Chalmers is more a commentator than a minister he just tells us what we already know but has no solutions
Lnp drove the bus here ,now blame labor for its destination 😂
The cost of living crisis has got worse Grim Jim since you became treasurer and Elmer Fudd took government,,, when are all the plans Albo had to fix everything going to start??
Oh and thanks for my $275 electricity saving,,,,it's gone up over $500,,,😢
12 x times interest rates went up.. please add extra hits when the RBA pushed rates by 0.50% double to standard 0.25%
The future is pretty dodgy as far as interest rates are concerned. I would expect at least another rate rise this year.
I love my government, they just gave me a 300$ for electricity bill . Im blessed
I guess other Countries are worse UK NZ etc would be glad to have rate at 4.3
You seem to forget that people have overstretched themselves . Want big houses. Maybe if people just held back and stopped paying rediculious amounts of money for houses the prices could come down
I feel sorry for the people struggling due to loss of job or Health reason but have no sympathy for those that want a champagne life on a beer budget.
Wanting large houses seems to be a problem in Australia. If they built a normal size. house I guess their mortgage would be cheaper.
.
%100 true your correct 👍
Just vote for any party except Labor or Liberal. It doesn't make any difference (Just the same old problems again and again). Both are useless. I will vote for anything but these 2 parties. Maybe gay, lesbian or marijuana parties would be fun.
I thinks it’s the optics, when people are struggling, why would he give himself a pay increase, I’m sure the government during the Great Depression wouldn’t or didn’t take a massive pay increase when their fellow countrymen were most likely at a soup kitchen, which nowadays is a food bank. I’m a QLD state employee and I remember we were into two years into eba negotiations, but the chook threw us under the bus to say we were greedy. My local council has just put the rates up by 6.9%, just when people are already struggling, I have live on a budget, why can’t they live by one in both local, state and federally. Half my salary this week went to taxes and let’s not forget I will have to purchase other stuff and I’ll be paying GST on it, so that they can pay for their hair-brained schemes or for someone that refuses to work, quite frankly all levels of government are awful. But remember they are following their WEF doctrine, us plebs will have nothing and be thankful for it.
Yeah but just remember Chalmers says one thing and the RBA says different so Chalmers seems to be adding extra all the time
Be for warned, by 2030 interest rates will be close to ( if not above ) 20%
Rates are going to go up not down
What Labor are running things 😂😂😂😂😂
Australians are paying for 3000 Palestinian permanent visas also....
Albo is becoming the king of deflection.
New Zealand already cut rate and we will follow soon. Hold tight everyone. Tough time is near over. lol 😅
Labour always going back to blame liberal. Do your job
Love how she says we won't hesitate to raise intrest rates. How do you expect people who bust there ass pay enough ta.x where is our money going. Way to much debt stop punishing Aussies and expecting them to fit the bill. Those extra cash figures are unbelievable a slap in the face. If this continues its over. Lost your house and addressing your housing shortage situation You sting us with food prices baked beans is all I eat at least three times a week . Not good enough.
I have no debt and paid off home so my life is actually very easy.
Interest rates under Paul Keating was 18 percent and everything was fine. The reason things are not ok now is because of inflation due to not being on a gold standard. We do not have the gold to back up the money we spend as a nation each year. That is the real reason inflation is so high 👍
I was working two jobs when the interest rates were at 18%. Many people had to sell their homes.
@@N0oN3XD what do you want a medal
@@nathanmcgrath9038 do your research.
@@N0oN3XD ok boomer
Can we see what 'Australians having enough' actually looks like? I suspect it won't progress much past internet whining.
Paul. Will you stop Banging on about Rates. They are still very cheap. If you can’t pay your mortgage you borrowed and Paid Tooooooo Much for housing. GM
Labor's new slogan:
"We like interest rate rises."
Heard petrol is going up !😊