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quote:

Originally posted by Fledz There is no chance in hell Labor or Liberals (if they had stayed in power) will lower interest rates. It's just not a wise thing to do with such a booming economy and record low unemployment rates.

i never said anything about LOWERING rates?
if they're going anywhere, they have to go up, every kid who did year 12 economics knows that.

quote:

Originally posted by steve_may if interest rates OS rise... so do ours. at least liberal got them down from labor. now lets see how much impact the gob have on the rates :P waits for new labor's "new australia" to return to old labor ways and fuck everything up

when they showed on the ad campaigns interest rates of 17% during the former governments reign, they were showing the peak interest rates...the interest rate at the end of the keating government was equal to what they are now. Howard hasn't performed any huge miracles, It's not like labor totally fucked things up last time, imo the policies put in place by the former labor government are why we are where we are now in terms of our economic position. Having said that Rudd-Swan are not hawke-keating, so i guess we'll have to wait and see.

quote:

Originally posted by Fledz There is no chance in hell Labor or Liberals (if they had stayed in power) will lower interest rates. It's just not a wise thing to do with such a booming economy and record low unemployment rates.

that and they can't just lower them even if they feel like it.

good, finally here's proof that he has misjudged public opinion....

quote:

Originally posted by echosystm low interest rates invoke investment. the demand on the house market is high. therefore, prices rise as supply is (relatively) fixed. the rba set interest rates and are "officially" separate from the direct control of parliament. however, those in government have control of all the factors which indirectly affect rates. therefore, it is the governments fault. the worse the market gets now, the bigger loans people will have. when the bubble bursts, and it will, those people in debt will be royally fucked because they'll be paying back more on their loan.

Correct. Low interest rates and a strong economy invoke investment.

The government has some control over RBA, however it is quite limited.

Investment (proerty/shares) leads to price rises (basic supply vs demand), which in turn leads to inflation and people bitching about how expensive everything is. Interest rates therefore must go up to combat idiots spending money who actually can't afford it, and curb private investment and inflation.

So, what would you prefer? A shitty economy where no one afford jack shit, or a booming economy that is TOO successful and must therefore be curtailed? Interest rates aren't even high at the moment. In the 70's and 80's they were mostly above 15%!

Or, worst case scenario, a shitty economy AND high interest rates, as has been the case under a few governments.

I think we're doing pretty well at the moment, though I wish I lived in Japan, which as 1% interest rates!

Read an interesting article in The Age the other morning which expressed concern that we are heading for a global recession due to a lack of skilled labour in China and India. 'Twas interesting. I hope property prices crash by 50% the week before I'm ready to buy.

you say interest rates arent high at the moment but what is worse...18% on a 80,000 loan as it would have been then or 8% on 400,000?

Echosystems avatar makes me giggle like a schoolgirl every time I see it.

That's pretty much all I have to contribute to this discussion :|

quote:

Originally posted by stipsy you say interest rates arent high at the moment but what is worse...18% on a 80,000 loan as it would have been then or 8% on 400,000?

Do you not realise that inflation means wages are proportional to the cost of goods and property?

i.e in the 80's the average wage was say..$200p/w, and houses were $150,000, whilst now the average wage might be $800p/w and a family home might be $500,000?

A small amount of inflation is necessary for a healthy economy.

quote:

Originally posted by dan_essential Rudd you Studd!

I'm pretty certain that Rudd won because he had a facebook account leading up to the election.

quote:

Originally posted by eRRaTiK I'm pretty certain that Rudd won because he had a facebook account leading up to the election.

totally agree, i've added the bastard but he rejects my invitation....****

quote:

Originally posted by steve_may if interest rates OS rise... so do ours. at least liberal got them down from labor.

click here
(and that was 2004 - before they went up 6 times - and we moved up to the industrialised worlds top 6 highest interests rates)

but any whoot yeah its all over now - little johnny and peter are all over - just havta see what happens next i guess

Time for Turnbull I think. He looks like he has potential.
Nelson is ok too so he could be good.
Abbott? Errr.....pass

quote:

Originally posted by Light The Fuse click here (and that was 2004 - before they went up 6 times - and we moved up to the industrialised worlds top 6 highest interests rates) but any whoot yeah its all over now - little johnny and peter are all over - just havta see what happens next i guess

1. The Age is biased - like all media.

2. You can't directly compare our current interest rates to that of other countries, as our economies are completely different.

What you can compare them to is our our history, which shows that rates are quite low at the moment compared to the last thirty years. Yes, we have had recent rises, but as I said earlier, that is the result of a healthy economy (it's a "good" rise), and thus not such a terrible thing.

What I don't understand is why people put deposits on houses, live on a complete shoestring and expect rates not to rise at all in the next 20 years of their mortgage. I know that when I buy (next 2 years), I'll be buying something well within budget so that should rates go up I'll be able to sustain my repayments. Most people don't seem to plan for the future like this at all.

It's all because of a spoilt generation intent on chasing the biggest house and the nicest car, within being willing to compromise as their parents were..."affluenza".

if the government has no control over interest rate rises, how come all the liberal ads in the last 2 election campaigns kept going on about how interest rates will rise under labor?

quote:

Originally posted by Philby if the government has no control over interest rate rises, how come all the liberal ads in the last 2 election campaigns kept going on about how interest rates will rise under labor?

Any government can't have direct control over the RBA and say "lower interest rates now!", however the Liberal pitch was that Labor's poor management of the economy would create masses of debt and hence interest rate rises.

It's incorrect to say the government has no control whatsoever over interest rates - they can do certain things to curtail them, but they have no direct say in how they are set.

As I said, current interest rate rises were necessary to curb over investment, inflation and an outrageous property market...

carrots are my favourite

lol

quote:

Originally posted by echosystm carrots are my favourite

Not if they are cooked. Then they are rubbish.

http://www.youtube.com/watch?v=ABFxLXyryhI

LOL @ the howard statue being pulled down

I made ticks and crosses all over the ballot paper coz I wanted to be as messy as politics and their representatives...
Really, I would have voted for the Anarchists but that party has long ago been dispersed by SAS units out of fear it could get a foothold in Australia...
Anyway, one day in the not so distant future - political parties in Australia will turn their attention to the Dance and Trance Communities and label them officially as secular and damaging to the otherwise stable social climate of this country. This will be the day we either will go officially underground or we "stabalise"!
I have already prepared my emergency lunch box and other neccessities and advise all of you who are in this for the long haul to consider measures which can oppose such future undertaking by the respective government.

quote:

Originally posted by TRANSPHERE I made ticks and crosses all over the ballot paper coz I wanted to be as messy as politics and their representatives... Really, I would have voted for the Anarchists but that party has long ago been dispersed by SAS units out of fear it could get a foothold in Australia... Anyway, one day in the not so distant future - political parties in Australia will turn their attention to the Dance and Trance Communities and label them officially as secular and damaging to the otherwise stable social climate of this country. This will be the day we either will go officially underground or we "stabalise"! I have already prepared my emergency lunch box and other neccessities and advise all of you who are in this for the long haul to consider measures which can oppose such future undertaking by the respective government.

yeah. the SAS were used against a rag-tag bunch of the unwashed wanker.

Are interest rates all anybody cares about?

What about the restoration of public services? Thats what I am looking forward to. The people who need help actually getting it.

I guess it depends on where and how you grew up as to what is important to you. I am sad that it took money for the Australian people to change their vote but I'm glad they finally did.

I've been a fan of Rudd since he appeared on Sunrise every week to debate and I am excited about his leadership

I dont think we will ever see Renegade vote for the Liberals

According to the polls, it was the work choices that ultimately slaughtered them. But I care(d) about interest rates, when you buy your first home you'll probably understand how much they hurt.

quote:

Originally posted by Lilith According to the polls, it was the work choices that ultimately slaughtered them. But I care(d) about interest rates, when you buy your first home you'll probably understand how much they hurt.

I've worked in Real Estate for 10 years so I understand how hard it is. I also have friends who are really struggling. There are some though who are far worse off, glad they are getting some help.

Does this mean I can rip up my AWA??

quote:

Originally posted by charlee Does this mean I can rip up my AWA??

God I hope so soon...

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