OT: Current Affairs and Politics

[Bandwagon]

Isn't Howard to thank for putting us in a position where we had 400 basis points to drop, plus room to spare?

Depends on your take of history, Howard inherited falling rates and passed on rising rates.

At the 1996 election the cash rate was 7%, at the 2007 election it was 6.75%, make of that what you will.

Remember his promise of "rates will always be lower under a coalition government", back then it seemed like that actually meant something good, yet here we are faced with the reality that it's truly a meaningless statement.

Because ideally they would be higher than they now are, and economic policy has been to attempt to get rates back to some kind of historical norm, which for the last decade has meant to try and create the conditions where they can be raised without hurting the economy.

Yet here we are.........

 

[hindy111]

Isn't Howard to thank for putting us in a position where we had 400 basis points to drop, plus room to spare?

And those fair work agreements where great. Anyone had a pay rise since?

 

[Gronk]

Isn't Howard to thank for putting us in a position where we had 400 basis points to drop, plus room to spare?

Myth. Central banks’ cash rate across the world all sat around 6 or 7% @ 2009.

https://tradingeconomics.com/australia/interest-rate

 

[hindy111]

Myth. Central banks’ cash rate across the world all sat around 6 or 7% @ 2009.

https://tradingeconomics.com/australia/interest-rate

A lot of what is happening is based on the fact what is happening in the world. 20yrs ago we had industries and our own economy was less vulnerable to the rest of the world.
Now we just need to hope the bigger and more wealthy nation's still be kind to us.

 

[Gronk]

A lot of what is happening is based on the fact what is happening in the world. 20yrs ago we had industries and our own economy was less vulnerable to the rest of the world.
Now we just need to hope the bigger and more wealthy nation's still be kind to us.

We will go into a recession unless merkins get on with their lives. Keep renovating the house, buy that new car, go on domestic holidays, buy clothes etc. If everyone goes into squirrel mode then it will snowball into a downturn, which will result in job losses. Once the unemployment rate starts to rise, it’s very hard to turn the ship around. Consumer and market confidence in the basics is imperative for us to stave off a huge problem.

Scotty has been very vocal on how Rudd dealt with the GFC, LOLing at how much he spent. Facts are that we were one of the few that avoided a recession. Over to you Scotty. Your party have had the wheel since 2013, so you can’t blame anyone.

 

[hindy111]

We will go into a recession unless merkins get on with their lives. Keep renovating the house, buy that new car, go on domestic holidays, buy clothes etc. If everyone goes into squirrel mode then it will snowball into a downturn, which will result in job losses. Once the unemployment rate starts to rise, it’s very hard to turn the ship around. Consumer and market confidence in the basics is imperative for us to stave off a huge problem.

Scotty has been very vocal on how Rudd dealt with the GFC, LOLing at how much he spent. Facts are that we were one of the few that avoided a recession. Over to you Scotty. Your party have had the wheel since 2013, so you can’t blame anyone.

Not everyone has money to spend. Or jas that tight a budget cant afford to spend and risk no overtime

 

[Gronk]

Not everyone has money to spend. Or jas that tight a budget cant afford to spend and risk no overtime

Well there will be no overtime for them, if merkins don’t have a business as usual mindset. Small business employs 75% of the workforce, but we (mums and dads) do not have a bottomless pit of cash reserves. If our turnover decreases, then that puts pressure on overtime or even jobs.

 

[Gronk]

I think someone should edit wikipedia and credit @maroubraeel for inventing the bump.

Anywho, in the tradition of the greap bump, I give you ...

 

[Gronk]

We will go into a recession unless merkins get on with their lives. Keep renovating the house, buy that new car, go on domestic holidays, buy clothes etc. If everyone goes into squirrel mode then it will snowball into a downturn, which will result in job losses. Once the unemployment rate starts to rise, it’s very hard to turn the ship around. Consumer and market confidence in the basics is imperative for us to stave off a huge problem.

Scotty has been very vocal on how Rudd dealt with the GFC, LOLing at how much he spent. Facts are that we were one of the few that avoided a recession. Over to you Scotty. Your party have had the wheel since 2013, so you can’t blame anyone.

If this happens, Scotty has demonstrated that he has NFI.

 

[hindy111]

Well there will be no overtime for them, if merkins don’t have a business as usual mindset. Small business employs 75% of the workforce, but we (mums and dads) do not have a bottomless pit of cash reserves. If our turnover decreases, then that puts pressure on overtime or even jobs.

It's easy for more advantaged people like yourself to take risks. But of course people scraping the barrels prefer safety

 

[Gronk]

t's easy for more advantaged people like yourself to take risks.

How am I advantaged ? I grew up in Dundas Valley/Carlingford and went to a scumbag high school like 99% of the merkins here.

But of course people scraping the barrels prefer safety

I understand that punters hit the breaks during uncertain times, but the message that should be promoted is that any downturn due to the coronavirus is a blip in time and we should all get on with it.

 

[hindy111]

How am I advantaged ? I grew up in Dundas Valley/Carlingford and went to a scumbag high school like 99% of the merkins here.
I understand that punters hit the breaks during uncertain times, but the message that should be promoted is that any downturn due to the coronavirus is a blip in time and we should all get on with it.

I'm not going into your financial or educational situation. But obviously you doing better in both then plenty of disadvantaged people who scrape by from week to week.

 

[Gronk]

I'm not going into your financial or educational situation. But obviously you doing better in both then plenty of disadvantaged people who scrape by from week to week.

I am a typical self employed merkin and I need to dispel the myth that we are all wealthy and light cigars with $100 notes. Most self employed merkins work 70-100 hours a week + and mortgage their houses to run the business. Many take significant punts on direction and risk their own livelihoods on a daily basis. Many (like me) have also had lean times where staff get paid and I don't. Whilst you might think that we are well remunerated, often when you break down the hourly rate some would be better off getting a salary job - with zero risk.

Branding small business owners as advantaged and others as disadvantaged is bullcrap. It costs $99 to register a business name with ASIC, ABNs are free. The rest is hard work.

 

[Poupou Escobar]

We will go into a recession unless merkins get on with their lives. Keep renovating the house, buy that new car, go on domestic holidays, buy clothes etc. If everyone goes into squirrel mode then it will snowball into a downturn, which will result in job losses. Once the unemployment rate starts to rise, it’s very hard to turn the ship around. Consumer and market confidence in the basics is imperative for us to stave off a huge problem.

Scotty has been very vocal on how Rudd dealt with the GFC, LOLing at how much he spent. Facts are that we were one of the few that avoided a recession. Over to you Scotty. Your party have had the wheel since 2013, so you can’t blame anyone.

He can still blame the PM he overthrew. There's always a scapegoat.

 

[Poupou Escobar]

I think someone should edit wikipedia and credit @maroubraeel for inventing the bump.

Anywho, in the tradition of the greap bump, I give you ...

And I'm sure you're one of the ones who pillories Trump for calling out fake news. Yet you're spreading a fake tweet.

 

[Poupou Escobar]

How am I advantaged ? I grew up in Dundas Valley/Carlingford and went to a scumbag high school like 99% of the merkins here.

Money erases all background disadvantage. I've learnt that and I'm nowhere near as loaded as you.

The only privilege left is how much money you have.

I understand that punters hit the breaks during uncertain times, but the message that should be promoted is that any downturn due to the coronavirus is a blip in time and we should all get on with it.

Agreed, but that's easy for us to say.

 

[Gronk]

And I'm sure you're one of the ones who pillories Trump for calling out fake news. Yet you're spreading a fake tweet.

Nah not fake. He's just gone and deleted all most of his idiotic tweets from the past.

 

[Poupou Escobar]

I am a typical self employed merkin and I need to dispel the myth that we are all wealthy and light cigars with $100 notes. Most self employed merkins work 70-100 hours a week + and mortgage their houses to run the business. Many take significant punts on direction and risk their own livelihoods on a daily basis. Many (like me) have also had lean times where staff get paid and I don't. Whilst you might think that we are well remunerated, often when you break down the hourly rate some would be better off getting a salary job - with zero risk.

Branding small business owners as advantaged and others as disadvantaged is bullcrap. It costs $99 to register a business name with ASIC, ABNs are free. The rest is hard work.

Merkin you own eastern suburbs real estate and buy your cars new. Your quality of life will be through the roof. Working 70+ hours a week (for yourself, not for a series of unreasonable bosses) just means you don't want to provide another job for some more desperate shmuck to take some of the load off your hands. Instead you want that extra money to fund your lifestyle.

Well done to you, and you (probably) deserve everything you've got, but don't pretend you're some battler because you went to school in the western suburbs and you're now exposed to some mild business risk.

 

[Poupou Escobar]

Nah not fake. He's just gone and deleted all most of his idiotic tweets from the past.

Snopes has debunked it. Trump Derangement Syndrome will get him reelected.

 

[strider]

If this happens, Scotty has demonstrated that he has NFI.

But the f**kwit who is warning aboutbthe warning is fine to post all manner of shit ... LOL