Dose of anti-D&G, as told to The Australian

The cost of most goods in the US is significantly lower than in Australia.

But wages on average are much much lower than Australia. No one in Australia has earned $4.50 per hour for a very long time. Thats all too common in the US.

Here's a list of US state minimum wages.

Have a look at Kansas's minimum wage :eek: Who needs illegal immigrants with those rates?
 
Hmmm...

So, if I take a 95% deposit on a house to a bank with an OK income, they won't allow me to buy a property that's "house price" was 30 times my income? I don't think so.

Once again, you presume 100% lend. Everyone always forgets the equity position or the fact that most trade-up properties are not 100% lend.

Servicability is a factor of the "loan value" not the "house price".

But what do I know, I'm not a bank guy.

Cheers,
Michael.

Yeah, 5% LVR borrowers are a reasonable example to use :rolleyes:

Average LVR of "new" loans bounces between 65-70%. This includes refinances (generally around 35-40% of the total) which have much lower LVRs than purchases.

Short version, given most buyers obtain 3/4 of their buying power from a lender, yes, lenders will prevent the representative borrower from buying a property 30-40 times their income.
 
The Poms are accused of being class conscious and snobs. But the Yanks are simply hung up on money.

No other English speaking nation would have the variety of "put down" terms for ordinary folk as they do. Even the word "folk" is low class. Bit late in the day and I can only think of "trailer trash" (a particularly hateful term) and "hillbilly" but there are so many variations such as "honky", "white trash" the list goes on.

They are not a tolerant people and this attitude means they are terrible soldiers in other countries.

I'm wondering why I started this post and it is in response to the list of minimum wages. In spite of the Civil War they are still slave masters at heart. Walmart importing all their stuff from China is just another form of slavery in which they enlist the Chinese Mandrins to do their bidding and the slaves stay at home. :D Now isn't that so much better than Slavery Mk1?

Not only are "wetbacks" tolerated, they are encouraged as another source of cheap labour that can't be imported in containers.
 
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