the troubadour

They had their hand forced to tighten up lending as even the RBA could not ignore what was going on.


I know people whom got loans through brokers who never should have under a responsible system. These people are a few pay checks away from disaster. I'm not sure, hopefully not, get the same today, but a few years back they were virtually giving them away. I can only conclude in certain cases lies were filled in with regards earnings or at least job security.


As I noted, there are a heap of people out there, hoping interest rates don't rise (because their pay sure isn't) and that they hold their jobs, and that their over inflated purchase, doesn't lose further ground in the sense of value.

Beoz

Thats the point. The govt aren't going to raise interest rates until the risk is gone.

Happy days.

the troubadour

That's a bit thick. Especially as keeping rates too low for to long resulted in the speculative 'boom' in the housing market.


Of course as I have already noted RBA's hand will be forced when the price of overseas borrowing increases . Hence as usual, events overseas dictates what happens on the ground in Australia. No matter how it is packaged and sold.


Hard to source the joy in a time of uncertainty ....

Beoz

Its already been tightened as you've already said. There's slack if required. Relax.

Your fear mongering can easily be torn apart.

the troubadour

The mighty Troubadour will tear you apart again. (to the rhyme of Love will tear us apart) Happens without fail.


The reality is, check it out, Australia is at the mercy largely of foreign banks, hence rates due to external borrowing.


All too easy when debt is sold at record low rates for extended period of time on an international level, due to earlier financial stuff ups.


I'll have to compose you a little ditty I think, something along the lines "The mighty troub has done it again" "Shot my argument down in flames" I'm not really very good at this game" I think I'll have to quit before I go insane".......

Beoz

You mean the new norm rates? Those that have been with us for a decade.

Someone still resentful about the 18% they were paying on their first house.

Still living the old days of unions and over inflated interest rates old timer?

the troubadour

Do hope you manage to score a point in the New Year. Few contributors have been proved to be as wrong as you have been on every single thread. Well done. A feat in itself.


No resentment on this side of the fence. Never experienced a 18% loan, as never had one. But house prices were far cheaper at the time, hence more affordable. Unions have never been more needed that modern times, with the neo libs attempting to erode rights of workers in every shape and form and take us backwards down a road many may have thought once had long gone.


Anyway I expect you will leave puberty behind this coming new year , perhaps a more reflective post with the arrival of adult hood may be eagerly anticipated?

Beoz

Isn't it funny. You spend the majority of the time predicting how bleak the future is then have the nonsense to tell me how wrong I am.

The thing is, I deal in fact, not future fiction based on leeching off others.

Now lets see who is wrong in every thread.

the troubadour

I haven't seen a thread from you not a reprint in some shape or form, from the Lieberal manifesto propaganda bureau.

Beoz

Send me a link of this Liberal manifesto. I have not seen it.

But if we are sharing common thoughts, and the economy is heading in the right direction which it is, then all is good for the masses.

Jump on board. Whinging will get you no where.

the troubadour

Well no it isn't actually. If the Lib's got through The Senate their desired plans to reshape Australia, the masses would certainly not find accord with the after results.


The people expressed their dissent last election. Clearly on board ....

Beoz

The people were lied to about Mediscare. Remember, most read the first paragraph headlines. You should know all about that.

No link on the manifesto? No cigar.

the troubadour

Well the link is most every thread you comment on appearing to be a directly lifted paragraph from the general Lib speak mission statement.


Contrary critique of your beloved Liberal Party is seldom addressed. Indeed stone walled as never mentioned. An often used technique these days to avoid defence of the indefensible.


Facts don't necessary have the power to change minds , rather quite the opposite.


If you don't want to believe/care that the Lib's under present mind set, would like, want to dismantle the welfare state, at least as much as they feel they can get away with then up to you.
The electorate has obviously seen through the ploy, or at least greater numbers of them, to give Turnbull a well deserved thumping in the last election.


Regardless of what you chose to read on the tin, clearly a party not for all, or even most of the people.

Beoz

Yes lets dismantle the welfare state. Lets start by eliminating the source of welfare. Lack of Jobs. High inflation. Encouraging foreign investment. Drug testing before the dole (after all you don't want your tax spent on the Ice right?)

Care to disagree with any of that?

Or are you just happy to be the leech? If so then the ALP is for you.

the troubadour

How about following The Business Council of Australia's lead and agree that the dole keeps people in poverty and un work ready? Instead of attacking the vulnerable at every turn seek out solutions. Just how are un skilled or semi skilled able to secure any type of job with present immigration arrangements voiding the necessity to train in many instances.


You may re why homelessness is an ever growing problem in Australia? Why the prison population has grown to such an extent. I do not recall any country with a increasing under class that has ever managed to quell drug use and anti social behaviour.


The leeches as well you know are those that avoid tax be they corporations or the rich.