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Chalmers and Albanese just displaying for all that they are...

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Cowboyinvestor

23,688 Posts.

33

29/06/24

12:13

Post #: 74530816
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Originally posted by alonso: ↑

I feel pretty sure there will be another rate rise of .25% within the next couple of months. Maybe more than one.
It's the consequences I'm not so sure about.
Of course it's going to put a heavy burden on mortgage holders with unheard of loan balances up till a very few years ago. And that of course will put more pressure on consumer spending, especially discretionary spending.
We'll see businesses in that area, everything from clothing, furniture, hospitality to holiday travel, likely to contract. And of course they all have loans to service.
So general contraction is on the cards and in turn that means job losses.
So instead of the upward spiral continuing, eventually there will be a downward spiral, which of course is the aim of it all, and price levels fall somewhat.

But it's an unenviable exercise in judgement as to how hard to brake without losing control.

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Chalmers and Albanese just displaying for all that they are fundamentally an incompetent government
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