Comments on: Interest rates: the difference between reality and chatter

By: John Bennetts

John Bennetts — Wed, 07 Oct 2009 15:50:20 +0000

I’m still trying to get my head around Joe Hockey’s statement as heard on ABC radio yesterday that the 0.25 percentage point rise will cost average Australians $1000 per year.

Where I live, average Aussies do not have $400,000 balances on their home loans.

By: Gary Johnson

Gary Johnson — Wed, 07 Oct 2009 08:37:49 +0000

Yes BakerBoy…it’s all their own fault eh!

You describe it like it’s all goody-two-shoe inch perfect. I reckon if they complain this time around we should take away their straw and make then mix their own mortar.

Your inclination is interesting.

By: bakerboy

bakerboy — Wed, 07 Oct 2009 07:23:21 +0000

Shortly we will see all the borrowers bleating about the interest rates rise/s. They conveniently forget the fact that the RBA’s lowering of rates to 3% over the past year or so has saved them hundreds of dollars each month. If they haven’t been smart enough to sock those savings into the principal of their loan, more fool them. Alex

By: madeinaustralia

madeinaustralia — Wed, 07 Oct 2009 06:53:53 +0000

People forget that while we may have avoided a recession, there are actual benefits of going through a recession, and the productivity that emerges on the other side.

This discussion suck because our governments should never claim victory for economic wins….after all they work for us, not the other way around.

Our stimulas package was to small to make a difference, China’s wasnt, our exports picked up due to the local demand created from Chinese stimuli,

coupled with already record low unemployment and booming market gains,

if i hear one more government zelot come out and take about how they protected jobs im going to scream.

By: meski

meski — Wed, 07 Oct 2009 04:29:48 +0000

” more than 90% of its borrowers didn’t reduce their repayments during the financial crisis. All of those borrowers therefore will barely notice the rate rise. Westpac says the number of borrowers who are ahead in their repayments is more than 75%.”

I’d wonder how many were ahead of their repayments at the zenith of the interest rate rises? Quite a lot, methinks.

By: Tom McLoughlin

Tom McLoughlin — Wed, 07 Oct 2009 04:20:14 +0000

Ah yes, but as the GFC recedes like a wolf at dawn from the edge of camp, Rudd will have to find some other moral/political/economic panic to wrap himself in having grown addicted to that heady elixir: Power turbo charged with popularity. Rudd likes being Big Mummy. Really likes it.

Howard had his terrorist refugees white supremacy dog whistle for the One Nation cohort, then the militiaristic war on everything tub thump after 9/11. Howard sure did like being Big Daddy too. All bad craven policy but exceedingly effective in short to medium term. The only thing against him was Time. He got too grey and small as well all do by comparison with the ALP Me Too.

Is Rudd just as amoral and craven? Does a bear sh*t in the woods? Is the Pope a you know what? Who knows what preposterous public policy debacle Rudd will serve up, over reaching, staving off withdrawals from the elixir. Only we know he will in time. It’s in his nature.