RBA Cuts Interest Rates to 1%

The DoggFather

OG DF
Premium Member
Gilded
Site's Top Poster
Joined
Sep 2, 2012
Messages
106,458
Reaction score
117,663
More cuts during the rest of the year.

Still means fuck all since the banks are being extra cunty and not approving loans.

I know they are trying to stimulate the economy but this won't do much as more than likely the Zionists (banks) won't pass the full discount on if at all.
 

Mr Invisible

Banned
Joined
Apr 26, 2008
Messages
0
Reaction score
47
This is going to make an almighty mess when things hit the wall.

Means more peopole stretching and over leveraging themselves. Banks are already way over in property and need to diversify, because if theres an economy shit all hell is going to break lose.
 

CroydonDog

Kennel Immortal
Gilded
Joined
Aug 1, 2012
Messages
19,539
Reaction score
16,538
But the guvmint told me the economy was going heaps good.
 

Rodzilla

Terry Lamb 1996
Joined
Dec 22, 2004
Messages
42,535
Reaction score
6,140
Negative interest rates, QE and bank bail ins are next, mark my words.
negative interest rates? like I borrow $10,000 from the bank and give back $9,500?

I might try doing that, ill immediately say that I want to pay them back and want another loan
 

Squash the Berries!

Kennel Enthusiast
Joined
May 27, 2019
Messages
1,406
Reaction score
502
negative interest rates? like I borrow $10,000 from the bank and give back $9,500?

I might try doing that, ill immediately say that I want to pay them back and want another loan

Not quite, would be nice, the impact will be on people with savings, negative interest rates occur when a bank charges you money for the privilege of looking after your savings. It is possible to have a negative interest rate (e.g. -0.5%). In regards to home loans the rates are always higher than the official interest rate paid to people with savings so you will still be paying interest on your loan.
 

Squash the Berries!

Kennel Enthusiast
Joined
May 27, 2019
Messages
1,406
Reaction score
502
I know its a little bit off topic but this shits me:

The Morrison government has faced mounting internal pressure to consider delaying or dumping the legislated schedule for increases in the rate on mandatory superannuation from 9.5 per cent to 12 per cent by 2025 or even consider dumping the compulsory savings regime for lower-income earners.

First no real pay rises for years, penalty rates dumped now this.

Be thankful for the Labor Party and unions or we would all be working 16 hours a day, 7 days a week for $5 an hour with no leave all with the agreement of the Coalition.
 

Squash the Berries!

Kennel Enthusiast
Joined
May 27, 2019
Messages
1,406
Reaction score
502
What a joke.

Nationals MP and Coalition backbencher Barnaby Joyce has spectacularly claimed he is struggling to make ends meet, despite being one of the highest earners in the country.
 

Alan79

Kennel Legend
Joined
Mar 10, 2007
Messages
13,221
Reaction score
19,014
What a joke.

Nationals MP and Coalition backbencher Barnaby Joyce has spectacularly claimed he is struggling to make ends meet, despite being one of the highest earners in the country.
I saw that prick in a carpark in Armidale recently and wanted to drive over him. Would have given the idea more thought if he wasn't holding his baby.
 

Squash the Berries!

Kennel Enthusiast
Joined
May 27, 2019
Messages
1,406
Reaction score
502
I saw that prick in a carpark in Armidale recently and wanted to drive over him. Would have given the idea more thought if he wasn't holding his baby.
I'm glad you didn't.

He's not worth going to gaol for.
 
Last edited:

Alan79

Kennel Legend
Joined
Mar 10, 2007
Messages
13,221
Reaction score
19,014
But the guvmint told me the economy was going heaps good.
Yeah nah. Not so much in country areas at least. In Armidale where I live about 50% of the shops are vacant in a town that was flourishing 10-15 years ago. Back then I was helping a friend look for a store to space to rent for a business they were starting and bugger all was available. It's not a good time to own a store there. Last month alone I saw 6 shops having closing down sales.

And for the record I'm 99% sure you were being sarcastic.
 

Alan79

Kennel Legend
Joined
Mar 10, 2007
Messages
13,221
Reaction score
19,014
I'm glad you didn't.

He's not worth going to goal for.
It would probably have been the best thing I could do for the new England region. I'm not typically a homicidal person so it surprised me that the thought crossed my mind.
 

086

Banned
Joined
Jun 26, 2019
Messages
1,476
Reaction score
332
Banks should be mandated to pass on the full reduction to borrowers, or inverse it by adding the rate cut as a rate increase to savings accounts.
I personally prefer the second, as it will encourage saving, rather than blind spending via easy credit.
 

Squash the Berries!

Kennel Enthusiast
Joined
May 27, 2019
Messages
1,406
Reaction score
502
In case you couldn’t tell I’m on the left side of politics. Grandparents were prominent members of the Australian Communist Party, father remained a union member until he died aged 86 and I was a member of a union for 37 years until I had to medically retire otherwise I would still be a member. It’s simple workers need a voice against being exploited by employers or the government.

.
 
Last edited:

086

Banned
Joined
Jun 26, 2019
Messages
1,476
Reaction score
332
In case you couldn’t tell I on the left side of politics. Grandparents were prominent members of the Australian Communist Party, father remained a union member until he died aged 86 and I was a member of a union for 37 years until I had to medically retire otherwise I would still be a member. It’s simple workers need a voice against being exploited by employers or the government.

.
Totally agree that the workers have been shafted over the last score or so.
Thing is, by time folks realise and get angry enough to do something about it, it will already be a decade or two too late!
 

BELMORE

Kennel Addict
Joined
Oct 28, 2013
Messages
7,929
Reaction score
9,192
Banks should be mandated to pass on the full reduction to borrowers, or inverse it by adding the rate cut as a rate increase to savings accounts.
I personally prefer the second, as it will encourage saving, rather than blind spending via easy credit.
Need to spend not save
 
Top