And they still have room to push rates lower.We will get...

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bang57

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29/07/21

00:02

Post #: 54852176
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Originally posted by bikemad: ↑

Dub, a lot of good articles/points in your posts above. The Australian government's irresponsible policies in tandem with the (unaccountable) RBA have encouraged Australians to take on maximum debt with little to nil savings. This has never been more apparent as the federal treasurer on the TV telling people to get out there and spend spend spend. You'd think in times like these, the government would be encouraging financial responsibility. These issues had become abundantly clear long before covid, but covid has become the government's go to excuse for everything that is negative in the economy that can be traced back to their policies over the last 20 years.
So the government have created the environment where the moment there is a lockdown and people can't go to work or work their small businesses, people are reliant on "government"/taxpayer support.
Now, following the steady downward manipulation of interest rate to .1% the RBA have nowhere to go. In my opinion they have been grossly negligent and the dopes in our federal government just don't know what to do. They have dug a massive hole for the Australian people with the amount of debt they, government and the people, have taken on, to where the slightest rise in interest rate will collapse the system.

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And they still have room to push rates lower.
We will get negative rates for all savers who keep their money in the bank , in this situation are better off to lend your money to your kids in an off set account and hope they dont run off with it. (They may also not allow 100% offset ) Interest rates will drop to 1.4% and bank fees will rise to make up the shortfall.
after this,
the shit will hit the wall and the day of reckoning will arrive,
The great reset will begin.
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