Update-Further Thoughts...4th Nov 2020: Major Banks-Lenders Pocket Interest Rate Cuts, Do NOT Pass On Rate Cuts To Home Mortgage Borrowers...
While Aussie Vulnerable's With Precious Savings-Kids, Middle-Income Earners, Very Old, Pensioners etc Get Slugged With Lower i/r Returns...
3rd Nov 2020: RBA "Kills" Aussie Economy With False "Kindness"! Cash Interest Rate Slashed To 0.1%, Lowest In History; QE Cash Injection Of Further $100bn In RBA Purchase Of ScoMo Gov't Bonds, Maturing 5-10 Years!
So Far, ScoMo-Josh Deficits = Record $214bn; Gov't Debt = $1.1 Trillion & Mounting Daily With Zero Plan-Hope Of Repayment...
PS: Aussie Households-Already Drowning In 200% Debt To HI-Are Being Flogged-Saturated With More Debt At Cheapest Interest Rates In History At Time Of Unprecedented Record Unemployment Plus Under-Employment...
Pent-Up Mortgage Defaults Is Banker's Financial Tsunami Worst Nightmare With Potential To Destroy $1.8 Trillion Market, Bank Assets-Balance Sheets, Send Home Prices-Asset Values Tumbling...
Add: Gov't Has Destroyed 3rd Largest Export Sector, Education; Australia Has No Viable Employment Strategy; No Strategic Plan To Counter China's Mounting Threats To 30% + Of Our Exports; etc...
Given This Reality, Aussie Banks-Home Lenders Have Zero Choice But To Defer Mortgage Repayments until ???. CBA No # 1 Bank Has Already Faced Its Reality...
Meantime, 25m Aussie's Have To Put Up With "Their" Pathetic Best...
