it was sarcasm - it doesn't translate well in type.
Next Interest Rate Movement down?
- Thread starter sash
- Start date
it was sarcasm - it doesn't translate well in type.
But the worlds going to end in 2012 so after that it's null and void anyway.
Maybe they just don't have a clue? Trouble with economists is most of their data is emphircal...whilst this is also important ...the psychology of the market...ie. - people's mindsets also affects the economy.
I have been looking at both the numbers as well as the what the layman in the street is doing. Let me tell you it is not pretty in Sydney or Melbourne. Rightly or wrongly...even though we have 5% unemployment a skills shortage in some industries...most people feel poorer than the GFC. This has been driven by higher living costs which the labour government and for that matter the previous Howard government has failed to address.
Instead you bleat on about terrorism, refugees, or law and order....these are really the side issues as the impact of these has not changed substantially since the Howard government. The real issue is that if the cost of living is not addressed now then that could impact the economy. One of the ways is to have a strong Competition and Consumer Commission which is a toothless tiger. This is do to the under funding of this organisation instead we put into more Federal Police, Customs, Centre Link Fraud staff, and other useless government bureaucracies.
The real disappointment to me is that we have a very large "bogan" population who are fixated on terrorism and immigration when the real issue is the cost living. This can only be addressed by competition and strong regulatory authority such as the Consumer & Competition organization. So whilst we vote on these stupid issues....our cost of living continues to go up.
Oh another thing.....that would also mean that we will need to be less precious about buying Australian. No such thing if you want affordable living standards....that means militant unions need to be quashed....and buying more imported good. This also means less wages for the less skilled.....but overall everyone will better off particularly the pensioners and unemployed.
The question is are people willing to make this neccessary change or continue down the Alice in wonderland path??
I have been looking at both the numbers as well as the what the layman in the street is doing. Let me tell you it is not pretty in Sydney or Melbourne. Rightly or wrongly...even though we have 5% unemployment a skills shortage in some industries...most people feel poorer than the GFC. This has been driven by higher living costs which the labour government and for that matter the previous Howard government has failed to address.
Instead you bleat on about terrorism, refugees, or law and order....these are really the side issues as the impact of these has not changed substantially since the Howard government. The real issue is that if the cost of living is not addressed now then that could impact the economy. One of the ways is to have a strong Competition and Consumer Commission which is a toothless tiger. This is do to the under funding of this organisation instead we put into more Federal Police, Customs, Centre Link Fraud staff, and other useless government bureaucracies.
The real disappointment to me is that we have a very large "bogan" population who are fixated on terrorism and immigration when the real issue is the cost living. This can only be addressed by competition and strong regulatory authority such as the Consumer & Competition organization. So whilst we vote on these stupid issues....our cost of living continues to go up.
Oh another thing.....that would also mean that we will need to be less precious about buying Australian. No such thing if you want affordable living standards....that means militant unions need to be quashed....and buying more imported good. This also means less wages for the less skilled.....but overall everyone will better off particularly the pensioners and unemployed.
The question is are people willing to make this neccessary change or continue down the Alice in wonderland path??
u're right on that. cost of living has increased.
Do they look at rates once a mth everywhere else too or is that just more Australian over kill ?
Seems ridiculous to me , once a quarter would be plenty and they need a few mths to pick a trend anyway so why the hell not just see what the quarter brings.
At least people and business would know where they're at for 3 mths stints .
Seems ridiculous to me , once a quarter would be plenty and they need a few mths to pick a trend anyway so why the hell not just see what the quarter brings.
At least people and business would know where they're at for 3 mths stints .
I'm not really sure why the business media is so focused on interest rates movements on a monthly basis...seems like such a trivial thing to waste many a night worrying about. After all - for many people it's not about the interest rate itself, it's whether you can have access to the money at all!
The IR debate gets more and more interesting everyday.....
http://www.smh.com.au/business/rates-turnaround-chance-of-rate-cut-grows-20110712-1hbh3.html
http://www.smh.com.au/business/rates-turnaround-chance-of-rate-cut-grows-20110712-1hbh3.html
I saw that article Sash and immediately thought of you. The RBA have definitely cooled their rhetoric from April, so much so that the next movement could very well be down.
Yes.....they haven't quite said cut yet....but wait for it in August...after the shocking July numbers.
I think a cut in Oct....is now very likely. It also the month when the sharemarket most gets the wobbles....so it will be interesting.
As for the economic boffins.....blind freddie could have seen what was going to happen.
I think a cut in Oct....is now very likely. It also the month when the sharemarket most gets the wobbles....so it will be interesting.
As for the economic boffins.....blind freddie could have seen what was going to happen.
From the article
And you guys say the D&G don't know what they are talking about, and say to listen to the "experts" and the RBA. These guys would not have a clue. They change their predictions as often as the wind turns.
Interest rates are only heading one way, and that is UP. At least I'm consistent with my prediction, not like the "experts" you guys listen to.
And you guys say the D&G don't know what they are talking about, and say to listen to the "experts" and the RBA. These guys would not have a clue. They change their predictions as often as the wind turns.
Interest rates are only heading one way, and that is UP. At least I'm consistent with my prediction, not like the "experts" you guys listen to.
Cost of living is the real killer of consumer confidence!!!!
Sash, I totally agree with you that it's the cost of living that's the real killer of consumer confidence, real estate investing, retail spending etc.
Everybody's watching their pennies, wondering where in their hip pocket they'll be hit next!
I know of a 93 year old lady who's been hit by a $1200 gas and electricity bill now and no pensioner discount either. (She was persuaded to change over by a salesman that came to her door).
I know of people who'd rather wear six jumpers than turn on the heat. They just can't afford it.
I too have been wondering why isn't there a watchdog to protest and curb these price increases like gas, electricity, food, petrol etc.
Just the essential necessities of life
Everyone in Australia seems to be taking it sitting down and meekly paying whatever the organisations/bills demand.
In other countries, people would have demonstrated violently to their govt or organised a movement not to pay these greedy *******s en masse
Nobody is making any noise about it, not a peep, not our politicians, not our media, not even a Facebook movement
WHY??????
Sash, I totally agree with you that it's the cost of living that's the real killer of consumer confidence, real estate investing, retail spending etc.
Everybody's watching their pennies, wondering where in their hip pocket they'll be hit next!
I know of a 93 year old lady who's been hit by a $1200 gas and electricity bill now and no pensioner discount either. (She was persuaded to change over by a salesman that came to her door).
I know of people who'd rather wear six jumpers than turn on the heat. They just can't afford it.
I too have been wondering why isn't there a watchdog to protest and curb these price increases like gas, electricity, food, petrol etc.
Just the essential necessities of life
Everyone in Australia seems to be taking it sitting down and meekly paying whatever the organisations/bills demand.
In other countries, people would have demonstrated violently to their govt or organised a movement not to pay these greedy *******s en masse
Nobody is making any noise about it, not a peep, not our politicians, not our media, not even a Facebook movement
WHY??????
Protesting what. Inflation is happening globally, not just in Australia. China for example has food inflation of 10%+.
Electricity and petrol. You want cleaner and greener, then pay for it, and stop complaining. Some of your electricity price rise is thanks to companies charging everyone for a few getting 60c/kwh for solar on the Solar Rebate Scheme. I love the people who want green and then complain that prices rise. That is going to happen!
It won't matter what the economists here think. Global inflation is here, and interest rates will rise globally (as they are already in many countries ), even the ones still in financial trouble. Australia interest rates will head up as well.
Well here's the issue. People complain like you do now.
So they vote Labor thinking it's the people's party and it'll help them.
Then Labor implements policies that drive up prices even more (this bit might be too complicated for Labor voters so I'll refrain from explaining).
So they end up in more pain. And vote Labor again.
Then more pain.
And they vote Labor again.
Then more pain.
By the way in which country are people demonstrating? You refer to:
Greece, Libya, Egypt, France, UK, US, Thailand, Brunei?
Ditto. same as I said in my post above.
These people just can't seem to link the policies to the impacts they have on their living costs.
I'm sure she votes Labor and supports the Carbon Tax. But can't link this to the facts that Carbon Tax = Increased Inflation = Prices Rises = Interest Rate Rises, etc.
Anyway, I still say an increase in Australian interest rates. The developing world (China and India) is madly raising rates to try and curb inflation. The inflation from these countries will get exported to the rest of the world. Europe, with it's massive problems, has also started raising interest rates.
Australia rates are still as below historic norms.
no doubt China and India are exporting inflation as thier middle class grows.
but "madly" hiking IRs? do you have any idea how the lending system works in China?
This is the elephant in the room.
Australians have been brainwashed to the point where pay too much for everything. Yet, as some people on this forum say...all they do is whinge and cop it. People should be giving the companies grief....stop shopping there or do not buy their products if they are ripping you off. I do this with the banks....the more people who make themselves a pain in the ar$e to these organisations the more change there will be.
I personally do not support the buy Australian or fly Australian concept...that is being stupidly parochial. If we imported food from overseas they would be cheaper and people like pensioners would get better food. Instead we see lobby groups like the farmers and others create fear about buying overseas produced. Why pay $30 a kilo for Barramundi from WA when you pay $15 for the ones from Taiwan!
If this continues we are going to price ourselves out...and then we are really going to have a huge recession!
We Australians seem to be sheep happy to be led by idiot policians. Instread the dipsticks focus on immigration and law order...when the real problem is the day to day bills for many.
You watch the carbon tax is madness in my mind....do you think that people who contribute 1.35% of the pollution are going to make a difference. Seriously....I think we have tickets on our selves.
Watch the Chinese....they have not committed to a Carbon tax....but are increasingly shutting down the heavily polluted industries in a gradual fashion...at the same time they are also developing alternative sources of energy. They know if they did it at once like our approach they would have a revolution from the masses there.
So...the sheep here bleat.....but to no avail.....
Australians have been brainwashed to the point where pay too much for everything. Yet, as some people on this forum say...all they do is whinge and cop it. People should be giving the companies grief....stop shopping there or do not buy their products if they are ripping you off. I do this with the banks....the more people who make themselves a pain in the ar$e to these organisations the more change there will be.
I personally do not support the buy Australian or fly Australian concept...that is being stupidly parochial. If we imported food from overseas they would be cheaper and people like pensioners would get better food. Instead we see lobby groups like the farmers and others create fear about buying overseas produced. Why pay $30 a kilo for Barramundi from WA when you pay $15 for the ones from Taiwan!
If this continues we are going to price ourselves out...and then we are really going to have a huge recession!
We Australians seem to be sheep happy to be led by idiot policians. Instread the dipsticks focus on immigration and law order...when the real problem is the day to day bills for many.
You watch the carbon tax is madness in my mind....do you think that people who contribute 1.35% of the pollution are going to make a difference. Seriously....I think we have tickets on our selves.
Watch the Chinese....they have not committed to a Carbon tax....but are increasingly shutting down the heavily polluted industries in a gradual fashion...at the same time they are also developing alternative sources of energy. They know if they did it at once like our approach they would have a revolution from the masses there.
So...the sheep here bleat.....but to no avail.....
Cost of labour. If you want all the protections for workers (leave loading, holiday rates), etc then you pay more for the goods and services these workers produce.
If you want the labour standards as in Taiwan, then you get things cheaper.
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