Update-Further Thoughts...
[COLOR=rgba(0,0,0,.75)]4th Nov 2020: Major Banks-Lenders Pocket Interest Rate Cuts, Do NOT Pass On Rate Cuts To Home Mortgage Borrowers...[/COLOR]
[COLOR=rgba(0,0,0,.75)]While Aussie Vulnerable's With Precious Savings-Kids, Middle-Income Earners, Very Old, Pensioners etc Get Slugged With Lower i/r Returns...[/COLOR]
[COLOR=rgba(0,0,0,.75)]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![/COLOR]
[COLOR=rgba(0,0,0,.75)]So Far, ScoMo-Josh Deficits = Record $214bn; Gov't Debt = $1.1 Trillion & Mounting Daily With Zero Plan-Hope Of Repayment...[/COLOR]
[COLOR=rgba(0,0,0,.75)]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...[/COLOR]
[COLOR=rgba(0,0,0,.75)]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...[/COLOR]
[COLOR=rgba(0,0,0,.75)]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...[/COLOR]
[COLOR=rgba(0,0,0,.75)]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...[/COLOR]
[COLOR=rgba(0,0,0,.75)]Meantime, 25m Aussie's Have To Put Up With "Their" Pathetic Best...[/COLOR]
Expand
