Once again interest rates have shot up in straya.

The great reserve bank has increased knyerst rates in straya.

This means we have been screwed over go 9 months and each month rates have been jacked up to slow down inflation.

Biggest joke is I went to buy my usual half pint of sour cream for nachos, usually cost 1.90.

Now it’s 3.20 for a basic item.

Let alone all basics have jacked up.

Though when rates drop the rip off bastards who run supermarkets will never drop prices, it’s to screw us more.


The bastards at the rba are really unrealistic, the only beneficiary are banks, increasing their profits.

It’s lies higher rates slow down the economy, been watching these lies for years.


Ffs the rba saying prepare for higher rates over the long term, this speaks volumes that this is not to flow down inflation only to allow banks to profit off our backs.



There will never be any deflation.
www.theage.com.au...



amp.abc.net.au...

You better buckle up for this ride, things are still in the early days of where interest rates can go. the 1980's was a hell of a time under Paul Keaton. Apparently the governments accounts looked better after that carnage. I don't know?

With all the money printing from covid and other pressures, the inflation is going up as the money supply is getting diluted. Increasing interest rates is one way the government has to reduce the money liquidity problems going on. Some kind of great reset also works well as a nations currency does collapse.

Yep... it's so bad right now.
I gotta put my prices up, so does everyone...
Then everyone will again in response.... and again and again...
I found a nice house where I work, I have to live here as I do a week per fortnight on call 24 hour...
cheapest house in the area, small, but perfect for me and my 5 yo daughter..
$850,000... Small, 3 bedroom fibro #ta, renovated a bit to make it look alright.
I put the numbers into the mortgage calculator out of curiosity.... $130,000 deposit, and the weekly repayments were.....
Exactly DOUBLE my wage!!!
I've got a good job, I'll never be out of work, my wage is ok, plus the business pays for lots of stuff. ...
but it's a family business and we're supporting our dad who refuses to retire, and trying to build capital,
thus the average wage..... I'll be ok, but holy smokes, I've slipped down a class this decade,
I work really hard to be poor at the moment and if I didn't have that daughter of mine, my life would completely be pointless and be nothing but a treadmill.
blah blah poor me... my rambling self indulgent point, is, to agree with you... how bloody expensive is everything right now in Australia!!!?? I'm not starving but I'm going nowhere fast.

A bank bail in is another option getting explored should another and bigger global systemic thing fail. The government where quick to guarantee the first 5-10K of all bank accounts as the 2008 GFC kicked off. Over time as things got more organized the guarantee did increase overtime and eventually all bank accounts where preserved this time. Some of the more vulnerable government accounts got seized along with more risky investment options in the public.

originally posted by: kwakakev
You better buckle up for this ride, things are still in the early days of where interest rates can go. the 1980's was a hell of a time under Paul Keaton. Apparently the governments accounts looked better after that carnage. I don't know?

With all the money printing from covid and other pressures, the inflation is going up as the money supply is getting diluted. Increasing interest rates is one way the government has to reduce the money liquidity problems going on. Some kind of great reset also works well as a nations currency does collapse.

Politicians don't give a rats behind about inflation they love it. They know that inflation will "cure" the debt problem. Which it will. Because as inflation rises, salaries and profits rise and small businesses in particular and people pay more in taxes.

The elite politicians spend money driving up the debt and give "freebees", literally, like checks to the populace and phones, etc. They know the only way to not implode is inflation. But the inflation lags so they can say, our spending had nothing to do with the inflation. While they celebrate with champagne and the newly obtained millions that every federal politician gains in Congress and the Senate within a few terms on an upper middle class salary. The cycle is one that Democrats especially love since they love to buy votes with "compassionate" spending that sets of a new round of inflation.

The "compassion" of the liberals during covid in federal spending - checks to everyone - etc. Led directly to run away inflation which now has the even the middle class struggling to decide if they can afford food in order to pay the rent in the middle of winter. As Biden said previously "we are now looking at a winter of death."

This "compassion" has led directly to crime so bad that illegal immigrants being sent to NYC are fleeing to Canada saying the US is far too crime ridden, drug ridden, homelessness ridden and dangerous a place for them to stay. www.foxnews.com...

Runaway inflation can be added to the list of crimes of compassion the US has experienced due to the unintended (or maybe intended) consequences of liberal rule over the nation for the past 2 years:
You now can't afford eggs which used to be the go to protein staple for the poor.
Rent is soaring higher than salaries so you can't afford a place to live.
Don't even think of calling 911 if you are hiding in your house/apt. while burglars with guns are there, you'll be dead before what the liberals say are the "racist, violent, disgusting" police arrive because so many have been defunded, demoralized and have quit. Thanks to liberal compassion and rule over the nation, especially in liberal run cities, the police can't get to you before you are shot and your daughters raped.

But heh, the elite compassionate liberal politicians doing all this, keep gaining their millions every year on an upper middle class salary. They fooled just enough people with their "compassion" and have their ballot boxes sewn up so tight, they can keep up the scam indefinitely. Meanwhile the ignorant peon masses (as the liberals think of everyone else) can't afford to have breakfast if we want to pay the bills to have a home.

a reply to: The2Billies

Depends on the politician for what they give a rats about. Yeah the WEF has penetrated the institution as we are stuck with a lot of corporate shills. There are still a few politicians left that try and call it as best they can.

Any system is only as good as the people running it.

originally posted by: kwakakev
a reply to: The2Billies

Depends on the politician for what they give a rats about. Yeah the WEF has penetrated the institution as we are stuck with a lot of corporate shills. There are still a few politicians left that try and call it as best they can.

Any system is only as good as the people running it.

Not the politician, the party they affiliate with, unless they are rogue and independent of TPTB.

That is why they hated Trump so much, he came out of nowhere and was uncontrollable by TPTB. So they destroyed him by creating what are now proven lies. The Russian collusion, attempted impeachment was proven to have been bought and paid for by members of the Democratic Party, aided by the plolitized FBI and DOJ who lied to the FISA courts. It worked they totally destroyed him with brazen and proven lies - while Hunter openly and with proof, real proof the FBI and DOJ have who does the will of TPTB won't touch this guy who often films himself naked, doing coc aine, with underage prostitutes, driving past classified documents stored in daddy's garage and Biden knows about it and has profited from his behavior and there is real proof - because Biden is the puppet of TPTB who hate the peon masses they lord over.

I have to say that over the past 2 years I haven't seen anything come out of Democratic Party rule, but poverty for the masses, the deep desire to ban the production of things that people want and use everyday. Disdain and open hatred for anyone who dares to challenge the littlest and most obscene liberal "truism" or thought. Like in CA where the public schools, under Democrat Party rule, are teaching K-3 how to masturbate, and giving medical treatments to children without the consent or knowledge of their parents (vaccinations and hormones), and taking little school children to sexually provocative shows where biological males wear clothes normally worn by biological female strippers or prostitutes to watch them perform sexual dances and sing sexual songs. If you object to anything liberals say or do, they demand you be fired from your job, social media destroy you and liberals do their best to destroy your professional reputation. That is the way liberals/progressives/ and Democratic Party politicians brazenly behave with disdain for the regular people who they deem too stupid to know what is best for them.

It seems from their behavior, purposely causing inflation through massive spending, that the Democratic Party wants the masses to be poor, easily controlled, and so busy trying to survive that they obey whatever the liberal progressives tell them to do or think. Why? Because they are positive liberals are smarter than the hopelessly stupid masses (liberals and Democrats have done many academic studies to "prove" it with wonky statistic manipulations). Therefore because they are positive they are the most intelligent people on the planet and the masses are ignorant, liberal politicians should be the ones forcing everyone to obey whatever the Democratic Party enacts through laws and regulations forcing the peon masses to obey their wise overlord liberal and progressive heavy handed rulers.

a reply to: The2Billies

Pretendant Biden at Castle Rock once the Dems won the steal. Kinda surprised Biden has made it this far after watching the the pre election debates. Not surprised to see the rest go down the hole.

As for Trump, he done a better job overall that I could running the USA for a bit. As for why he dropped treatments for covid like HCQ in the early days to push warpspeed and that can of worms?

Dude that sucks. I’ll never take out a bank loan or ask to receive a government welfare check. The dole is too much work and way too invasive. Banks are parasites and I wish I didn’t have to park money with the cretinous leaches.

Glad your not starving.

a reply to: homerJ

Umm. What’s that got to do with the OP?

Our scumbag pollies don’t care about us either. I guess anyway, because I couldn’t tell you (nor do I care) who our current batch of rooster suckers are.

Be in the world not of it 👍

a reply to: The2Billies

seda reply to: robsmith

It will crash the housing market, but that probably is the plan as they will be owned by the banks and rented back to the mortgage holders. When houses were cheap the interest rates could be high, now they are near a million each any rise is devastating.

a reply to: kwakakev

The way things are going we’ll soon be at 20 percent rates.

Though this is feeling like the reserve bank and the major banks are in some sort of collusion that the rba is jacking rates up, and helping banks profit more.

Then when the banks collapse they win again with the big government bail outs.

Really interest rate rises only line the pickets of the banks.

Fair enough if the money went back in to fund essential services I would get that though it’s helping banks profit.

Though the money is being horded, granted some taxes would be paid on the money though this is small change.

a reply to: anonentity

I did read a story on ATS ABOUT ONE BSNKNIN AMERICA WHO IS BUYING UP mortgage defaults, and want to be the biggest landlord in thd world.

a reply to: robsmith

Blackrock will own it all, so the investors in Blackrock will be the landlords Their names are hidden. But we can guess with certainty. They also own the banks so when they wind them up, they will own their debts. All the mortgages and loans.

a reply to: kwakakev

The banks don’t need another bailout, they already have cleared billions in profit.

a reply to: anonentity

This plan for world domination has really escalated since covid.

a reply to: robsmith

The banks don’t need another bailout, they already have cleared billions in profit.

With the way the assets are structured on the banks balance sheet, cash reserves only make a small percentage (around 10%ish). The rest are held in other financial instruments like stocks, loans, land and others. If Wall Street does fail, the banks don't have enough to cover all of their account holdings.

a reply to: robsmith

They lend out far more than they have, but that's okay when people can pay the interest. If the economy runs down they won't have enough cash left to pay their depositors. Then the trouble starts. They have to invent La La money based on blips on a computer screen.