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Australians suffer world’s biggest collapse in living standards, page-3

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pintohoo

88,018 Posts.

75

12/07/24

14:56

Post #: 74728593
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Originally posted by Scott th Ratbag ↑

yes most of Aus has suffered reduced disposable income. but its an extreme exaggeration to claim that Aussies "suffer world’s biggest collapse in living standards".

this is pure political spin bro.

most of the damage done to Aus taxpayers is through our dominance of variable interest on our mortgages. the rotw has fixed interest dominating the mortgage market. we also have landlords/housing investors on interest-only payments, all accumulated during the LNP years which meant that rental rates were also forced up by interest rate rises.

this means that smaller rises in interest rates have a much larger affect on people. renters as well as mortgage holders.

this is the real cause of our reduced ability to buy food and pay our bills.

so really, its not the interest rate rises but a combination with our lender practices.

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I wouldn't forget insurance premium rises and probably food prices as well.

when one sees insurance premiums jumping in thousands per year (post tax) - that's budget busting
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