Things that give you the sh1ts

[Spargo]

Another RBA governor out of touch with every day mortgage holders.
Seriously…

Dammit, you got my hopes up there was an interest rates rise.

Yeah, nice one.

[Lightning McQueen]

I've only ever had cold sores since I went to Thailand. Hmmm.
Luckily I've only had two but they're shocking to get rid of especially when you think its a pimple and squeeze it!

A dollop of Vegemite on it before you go to bed, stings like hell but dries it out in no time

[gadj1976]

Another RBA governor out of touch with every day mortgage holders.
Seriously…

Dammit, you got my hopes up there was an interest rates rise.

Because?

[Brodlach]

Another RBA governor out of touch with every day mortgage holders.
Seriously…

Dammit, you got my hopes up there was an interest rates rise.

Because?

If you are older and have investments the higher the interest rate the higher the return.

Superannuation usually increases a far amount during higher interest rates

[Booney]

Because?

....you're selfish.

[Jimmy_041]

Another RBA governor out of touch with every day mortgage holders.
Seriously…

Is she meant to be in touch with them or the other way round?

[Jimmy_041]

Not her fault, it’s those entitled who wantonly and selfishly seek dentists and hairdressers.

or want to eat Wagyu beef washed down with the finest shiraz every day

[Wedgie]

Ideally they don't go up too much to cause too much inflation, it's a fine line but as a lot of people's income is linked to CPI and havent had a mortgage in years as well as investments such as super, etc and would benefit by rises more than cuts.
Lol @ being selfish for seeing both sides of the coin, anyone who celebrates interest rate cuts, jobkeepers allowance during Covid or a win on the nags must be even bigger cnuts using that logic!

[Brodlach]

Because?

....you're selfish.

Whilst I don’t want interest rates to rise either, if you don’t want them to rise are you being selfish also?

It affects his and many other’s future. I can see both sides

[Booney]

The unfortunate reality of the current economic climate is the crisis actually only impacts a small portion of the population, those who can least afford it. So we've got the minority least equipped to do the lifting carrying the can for the rest of the population.

I know there's many layers to it but the "average" Australian household ( I'm not saying the bullshit average wage which is not anywhere near average in reality ) is probably only feeling a minor squeeze to this point.

For the good of all the majority need to curb spending but as demonstrated above if we all think "I'm alright Jack" and only worry about ourselves these rate rises might just keep coming and we spiral off into recession.

So the real question is how does the government or RBA curb the spending / lifestyle habits of those who haven't felt the impact of the rates rises?

[Booney]

Because?

....you're selfish.

Whilst I don’t want interest rates to rise either, if you don’t want them to rise are you being selfish also?

It affects his and many other’s future. I can see both sides

If you're in a position in life where interest rates rises are good for you then I'm not sure you're feeling the pinch too much.

I too can see both sides, the problem ( as noted in my post above ) is the "sides" aren't 50/50 and the "sides" aren't as equipped as each other to deal with it.

[DOC]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

[Spargo]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

Spot on.

[Brodlach]

I do see your point Booney and I could spiral this conversation out of control but I will say many people who borrowed for homes over the past 5 years borrowed at record low interest rates and borrowed too much. Didn’t factor in the rates would return to “normal” levels.

Price gouging by goods and services has to be close to record levels IMO as we can see from profits by big companies

[Booney]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

Absolutely, as I said how does the government / RBA do that and raising GST would be a good way of doing it, more you spend the more you pay.

They could also get income tax brackets in line with reality.

The fact that people earning $45,001 pay the same 32.5c/$ income tax as those earning $120,000 is insane and the fact that anyone over $180,000 pays the same amount is also insane.

$180,000 would be a senior engineer, they pay the same tax as the bank CEO's earning $7m we've discussed in the AFL CEO discussion.

[Brodlach]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

I’m not sure that either the current Labor or the current Liberals if they win the next election would have the balls to do this.

[Booney]

I do see your point Booney and I could spiral this conversation out of control but I will say many people who borrowed for homes over the past 5 years borrowed at record low interest rates and borrowed too much. Didn’t factor in the rates would return to “normal” levels.

Price gouging by goods and services has to be close to record levels IMO as we can see from profits by big companies

I don't think you'll find many people who disagree with you on that mate.

[Booney]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

I’m not sure that either the current Labor or the current Liberals if they win the next election would have the balls to do this.

LNP certainly wouldn't consider it.

[Brodlach]

There is a strong argument to increase the GST as a curb to inflation, to spread more evenly the tax base and to increase the revenue for the Government.

This is out of the RBA's hands. They effectively only have the one tool.

Asking people to stop spending is close to pointless.

I’m not sure that either the current Labor or the current Liberals if they win the next election would have the balls to do this.

LNP certainly wouldn't consider it.

I thought they’d be more likely as they introduced GST

[Booney]

I thought they’d be more likely as they introduced GST

Sorry, more so because they're in opposition, you'd be mad to use that as your gift to the people if they put you in.