Flow-Rider
Burner
It's a convoluted argument really, but if the excess money isn't available people can't buy at the inflated price.
Nerfonomics
- Thread starter Nerf Herder
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- economics george costanza nerf
rockmoose
his flabber is totally gastered
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
Can't argue with that!
ozzybmx
taking a shit with my boobs out
We cant even sell the young fellas bike, it would have rolled out the door 6 months ago.
A few parents have low balled me by 33%, the only people who are actually interested are the scammers
Flow-Rider
Burner
It's getting real.
Minlak
custom titis
I heard an interesting take on the rate rise today on the radio.
Inflation is still rising and we raise the interest rates to curb spending as I understand it and they explained. They then went on to explain that the cafes and shops are all still full on the weekends and people are still spending money so inflation still rises - they then explained that we are almost divided in two now with one group struggling with rent / morgateges / putting food on the table / fuel - I mean really to survive and on the other side people that are not being effected and still spending so the inflation keeps rising - All this seems to be doing is hurting the little fellow over and over again.
Inflation is still rising and we raise the interest rates to curb spending as I understand it and they explained. They then went on to explain that the cafes and shops are all still full on the weekends and people are still spending money so inflation still rises - they then explained that we are almost divided in two now with one group struggling with rent / morgateges / putting food on the table / fuel - I mean really to survive and on the other side people that are not being effected and still spending so the inflation keeps rising - All this seems to be doing is hurting the little fellow over and over again.
indica
Serial flasher
Absolutely smashing those without enough money.. It's fucked.
ozzybmx
taking a shit with my boobs out
I read this in an article several months ago when the interest rates started rising, they said it would split Australia.
Those who are well off and either have no mortgage or can afford months/years of high rates, still spending, still buying new cars, still holidaying, still enjoying life as if nothing was going on.
Then those who are either already fucked or counting down the days till they are over the edge.
Those who can afford prolonging the pain for those who cant.
caad9
Likes Bikes and Dirt
I’m no economist but I tend to agree.
I’ve got a new mortgage, am getting reamed.
We made plans based on a significant interest rate rise when we committed and it’s been blown out of the water. By buying/selling our house our mortgage was going up by $1000 - I should add we sold more out of necessity than greed.
We are now paying close to $2700 more a month.
Rising costs for food/fuel/services are probably having enough of an effect without the banks dipping in and really crippling people.
As @ozzybmx said, the spending is happening from the people who are not affected by interest rate rises, through high earning or equity in homes or the people who have been saving for a house and have been completely closed off from that option and gone into YOLO mode
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indica
Serial flasher
That's gotta bite for sure.
Only have just recently needed to reshuffle the finances.
But I am very lucky, I'll just do another overtime to cover. Very very lucky.
Squidfayce
Eats Squid
I wouldn't call doing overtime to cover living expenses lucky.
caad9
Likes Bikes and Dirt
It’s sure hurting.
We signed our contract at 2.07% in March, had a 120 day settlement and the interest rates rose 3-4 times before we even moved in.
We are now low 4’s and the hurt keeps coming
indica
Serial flasher
I have the ability to choose to do one whenever I want... that bit is fortunate. Others do not have that chance.
Squidfayce
Eats Squid
To what end? I know what you mean, but having to do overtime to pay for living expenses is not a good position to be in which ever way you look at it.
Just pick up another shift again next time, energy, fuel, food, mortgage goes up?
Will you be fortunate when you're doing a 60hr week to pay for what a 40 hr week paid for previously?
Minlak
custom titis
Do you always have to be contrary?
He considers himself fortunate that he can provide more if needed and required - in this country at this time it is pretty fortunate in my books.
jrewing
Eats Squid
I see his point. The extra overtime should be making the discretionary spending not going towards essentials. I think he means the govt is failing genuine people.
Minlak
custom titis
I get his point as well - and don’t disagree but the way he is making his point in contrary instead of making his point.