Albanese Labor Govt Watch

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Re: Albanese Labor Govt Watch

Postby Dinglinga75 » Tue Feb 07, 2023 3:27 pm

Would it be different as she is in the senate , so the next person on the ticket for Victoria Greens would get the gig ....

Whilst im centre - left with my political views , she is dangerous to the Greens and happy she has left ...

The Right have Pauline Hanson , the left Lydia Thorpe

What a Q&A session that would be LOL
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Re: Albanese Labor Govt Watch

Postby mighty_tiger_79 » Tue Feb 07, 2023 4:02 pm

Dinglinga75 wrote:Would it be different as she is in the senate , so the next person on the ticket for Victoria Greens would get the gig ....

Whilst im centre - left with my political views , she is dangerous to the Greens and happy she has left ...

The Right have Pauline Hanson , the left Lydia Thorpe

What a Q&A session that would be LOL


probably would be different given she is in the senate, but surely something can done.

i wonder how the bloke who bankrolled her campaign is feeling?? unless this was always part of the plan
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Re: Albanese Labor Govt Watch

Postby mighty_tiger_79 » Thu Mar 09, 2023 7:04 pm

cost of living crisis and Albo goes off on a jaunt. might be important talks, but the timing is poor
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Re: Albanese Labor Govt Watch

Postby Corona Man » Thu Mar 09, 2023 7:45 pm

mighty_tiger_79 wrote:cost of living crisis and Albo goes off on a jaunt. might be important talks, but the timing is poor

Got a whiff of old mate Kevin 07 about it.
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Re: Albanese Labor Govt Watch

Postby bulldogproud » Thu Mar 09, 2023 7:57 pm

mighty_tiger_79 wrote:cost of living crisis and Albo goes off on a jaunt. might be important talks, but the timing is poor


The cost of living crisis could be with us for a long time. What could he do if he was here? Rather, he meets with our partners in the quad, striking up deals that can assist solve problems in our supply chain, lowering costs of imports, helping relieve the cost of living pressures as much as possible... oh, and deciding on the Aukus deal implementation.
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Re: Albanese Labor Govt Watch

Postby Jimmy_041 » Fri Mar 10, 2023 4:09 pm

mighty_tiger_79 wrote:
Dinglinga75 wrote:Would it be different as she is in the senate , so the next person on the ticket for Victoria Greens would get the gig ....

Whilst im centre - left with my political views , she is dangerous to the Greens and happy she has left ...

The Right have Pauline Hanson , the left Lydia Thorpe

What a Q&A session that would be LOL


probably would be different given she is in the senate, but surely something can done.

i wonder how the bloke who bankrolled her campaign is feeling?? unless this was always part of the plan


Got to make the major political parties think about reducing the term for senators
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Re: Albanese Labor Govt Watch

Postby stan » Mon Mar 13, 2023 7:12 am

Jimmy_041 wrote:
mighty_tiger_79 wrote:
Dinglinga75 wrote:Would it be different as she is in the senate , so the next person on the ticket for Victoria Greens would get the gig ....

Whilst im centre - left with my political views , she is dangerous to the Greens and happy she has left ...

The Right have Pauline Hanson , the left Lydia Thorpe

What a Q&A session that would be LOL


probably would be different given she is in the senate, but surely something can done.

i wonder how the bloke who bankrolled her campaign is feeling?? unless this was always part of the plan


Got to make the major political parties think about reducing the term for senators
Absolutely, tie it all back to the general election term and this crap won't keep popping up. Otherwise we will keep ending up with a senate full of crazies.
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Re: Albanese Labor Govt Watch

Postby RB » Mon Mar 13, 2023 10:27 am

stan wrote:
Jimmy_041 wrote:Got to make the major political parties think about reducing the term for senators
Absolutely, tie it all back to the general election term and this crap won't keep popping up. Otherwise we will keep ending up with a senate full of crazies.


Actually, the exact opposite would happen if terms were halved (assuming the same number of senators).

This is because the quota would also be halved so folks would end up getting in off about 3% of the vote. For example, at the 2016 double dissolution election (all senators up for re-election, therefore quota half as large as normal), Bob Day got in off less than 3% of the primary vote.

Staggered, long terms, with a higher quota, help prevent crazies from being elected. Very few silly candidates get elected in normal (i.e. half-) senate elections, and such of them as do get elected have enough electoral support that they would be resilient against various sorts of changes to how senators are elected and how long for.

I would suggest that Thorpe's election was a problem caused by the Green pre-selectors backing what was quite obviously the wrong horse, rather than anything else.
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Re: Albanese Labor Govt Watch

Postby Booney » Tue Mar 21, 2023 12:59 pm

1989: Interest rates hit 18.2 per cent.
Sydney's median house price was $170,850 back when $26,874 was Australia's average, full-time salary.
The 20 per cent deposit of $34,170 was barely more than a year's wage and someone paying off a $136,680 mortgage had a manageable debt-to-income ratio of 5.08.

2023: Interest rates hit 3.6 per cent.
Sydney's median house price of is $1,217,308 and a borrower needs a 20 per cent deposit of $243,461.
Someone on an average, full-time salary of $94,000 paying off a $973,846 loan would now have a very dangerous debt-to-income ratio of 10.4.

Thus the term "Ok Boomer" has been coined.
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Re: Albanese Labor Govt Watch

Postby MW » Tue Mar 21, 2023 1:05 pm

Booney wrote:1989: Interest rates hit 18.2 per cent.
Sydney's median house price was $170,850 back when $26,874 was Australia's average, full-time salary.
The 20 per cent deposit of $34,170 was barely more than a year's wage and someone paying off a $136,680 mortgage had a manageable debt-to-income ratio of 5.08.

2023: Interest rates hit 3.6 per cent.
Sydney's median house price of is $1,217,308 and a borrower needs a 20 per cent deposit of $243,461.
Someone on an average, full-time salary of $94,000 paying off a $973,846 loan would now have a very dangerous debt-to-income ratio of 10.4.

Thus the term "Ok Boomer" has been coined.


I am in no way justifying this, but 1988 - one income. 2023 - two incomes.
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Re: Albanese Labor Govt Watch

Postby Trader » Wed Mar 22, 2023 9:24 am

MW wrote:
Booney wrote:1989: Interest rates hit 18.2 per cent.
Sydney's median house price was $170,850 back when $26,874 was Australia's average, full-time salary.
The 20 per cent deposit of $34,170 was barely more than a year's wage and someone paying off a $136,680 mortgage had a manageable debt-to-income ratio of 5.08.

2023: Interest rates hit 3.6 per cent.
Sydney's median house price of is $1,217,308 and a borrower needs a 20 per cent deposit of $243,461.
Someone on an average, full-time salary of $94,000 paying off a $973,846 loan would now have a very dangerous debt-to-income ratio of 10.4.

Thus the term "Ok Boomer" has been coined.


I am in no way justifying this, but 1988 - one income. 2023 - two incomes.


Very good point MW (one a lot of people aren't willing to acknowledge as it doesn't fit their narrative).
Also, the debt to income ratios mentioned above don't take into account the cost to service the debt, just the size of the debt.

Using Booney's numbers, in 1989, at $136,680 mortgage with an 18.2% interest rate was paying $24,875 in interest, or 92.5% of the yearly average salary.

In 2023, $973,846 at 3.6% means interest payments of $35,058 on an average salary of $94.000 is only 37.3% of the yearly average.

Once you take into account household income, rather than average income, the 2023 scenario becomes even easier.

The hard part in 2023 is saving the deposit. You now need 2.6 years worth of income to save a deposit rather than 1.27 years in 1989. (But once again, two incomes vs one means its still 'roughly' on par).
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Re: Albanese Labor Govt Watch

Postby Booney » Wed Mar 22, 2023 9:30 am

Fuel, food, essential services, school fees, clothing etc make the 2nd income almost a moot point......I'll take 1989 thanks.
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Re: Albanese Labor Govt Watch

Postby PatowalongaPirate » Wed Mar 22, 2023 9:55 am

That $94k salary would be taxed about $22K too.

There are also childcare fees to consider for households where both parents are working.
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Re: Albanese Labor Govt Watch

Postby Jimmy_041 » Wed Mar 22, 2023 11:00 am

Booney wrote:Fuel, food, essential services, school fees, clothing etc make the 2nd income almost a moot point......I'll take 1989 thanks.


What he means is the 1989 bank totally excluded the 2nd income from calculating how much you could borrow (& afford) mainly because the wifey would get laid (up)

Plus, IIRC, any income from a second job (trying to get ahead) was still taxed at the highest tax rate

The "normal" interest rate back then was 11-12%. 18% was an enigma but I dont reckon single digit interest rates came in mid 90's

Also (admittedly without researching) I assume Sydney house prices is convenient to the argument.
Most people on here wouldn't have a house in Sydney

Oh, and people worked a full week and deserved penalty rates for working longer than 8 hours per day or on the weekend. Not now

The bank manager was entitled to prima nocta
Fixed rates / redraw facilities / transferable mortgages are all fantastic improvements

The biggest baddy of all was bridging finance back then - try 35% - 40% interest for little risk

Comparing the 80's and now is ridiculous. There are so many variables.
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Re: Albanese Labor Govt Watch

Postby MW » Wed Mar 22, 2023 11:12 am

Booney wrote:Fuel, food, essential services, school fees, clothing etc make the 2nd income almost a moot point......I'll take 1989 thanks.


child care wipes out the majority of the 2nd income before you get to school fees
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Re: Albanese Labor Govt Watch

Postby Brodlach » Wed Mar 22, 2023 11:14 am

The fact younger people want the biggest and best house and car now doesn’t help them either.
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Re: Albanese Labor Govt Watch

Postby Booney » Wed Mar 22, 2023 11:19 am

Brodlach wrote:The fact younger people want the biggest and best house and car now doesn’t help them either.


This one makes me chuckle. :lol:
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Re: Albanese Labor Govt Watch

Postby Brodlach » Wed Mar 22, 2023 11:33 am

Booney wrote:
Brodlach wrote:The fact younger people want the biggest and best house and car now doesn’t help them either.


This one makes me chuckle. :lol:


Why?


Younger people would rather get into more debt than start small and increase over time like we all did.

Nowadays it’s I need that $45k Ute not the second hand $8k Ute.
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Re: Albanese Labor Govt Watch

Postby Booney » Wed Mar 22, 2023 11:41 am

Brodlach wrote:
Booney wrote:
Brodlach wrote:The fact younger people want the biggest and best house and car now doesn’t help them either.


This one makes me chuckle. :lol:


Why?


Younger people would rather get into more debt than start small and increase over time like we all did.

Nowadays it’s I need that $45k Ute not the second hand $8k Ute.


Why?

Boomers had a tough childhood, their parents were War time survivors who had nothing but made ends meet. Boomers lived in the good times through the 70's and 80's and provided their children with more than they ever had and good on them, probably use the term "spoilt" them.

Those Gen x / Millenials that "Want the biggest and best" have probably had the fortune of their boomer parents providing that to them through their lives.

They didn't make themselves that way.
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Re: Albanese Labor Govt Watch

Postby Brodlach » Wed Mar 22, 2023 11:50 am

So they don’t have minds of their own and not stretch themselves to the point of breakage?

You don’t need the biggest and best right from the start, makes you appreciate what you have instead of expecting to just have it.
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