Post to Facebook on 20/11/2019 2:31 PM
Commenting on “Record household debt as RBA knuckles down to further rate cuts”
Posted to The Age (19/11/2019) on 20/11/2019
Commenting on "Record household debt as RBA knuckles down to further rate cuts"
https://www.smh.com.au/politics/federal/record-household-debt-as-rba-knuckles-down-to-further-rate-cuts-20191119-p53bzj.html
It is a nut case to the nth degree. For months I have commented and blogged that consumer confidence would not improve with rate cut, and the whole real estate market would continue to be topsy-turvy.
The low interest rate is as bad as the seduction of using credit card. Many people who really can't afford a loan to purchase real estate ended up with debt over their dead bodies. It is a misconception and further cut in interest rate MUST stop. The Royal Commission has uncovered some unethical practices of the financial sector, but I hope we do not need a Royal Commission or Consumer Affairs to tell us that RBA is committing social injustice leading to much untold financial hardship for many Australians.
I would welcome RBA release some positive news regarding countries having zero or near zero interest rate, but I doubt it can.
The traditional fiscal and monetary models seem to be archaic in present day. Definition of employment is a joke, the so called coffee culture proudly celebrated by Melbournians is nothing more than a fad. Although cafes are replacing the empty traditional retail stores, the culture will die if the economy gets worse and become truly stagnant. One must be mindful that it is no longer science fiction that robots are taking jobs away!
Thank you for reading.
Commenting on “Record household debt as RBA knuckles down to further rate cuts”
Posted to The Age (19/11/2019) on 20/11/2019
Commenting on "Record household debt as RBA knuckles down to further rate cuts"
https://www.smh.com.au/politics/federal/record-household-debt-as-rba-knuckles-down-to-further-rate-cuts-20191119-p53bzj.html
It is a nut case to the nth degree. For months I have commented and blogged that consumer confidence would not improve with rate cut, and the whole real estate market would continue to be topsy-turvy.
The low interest rate is as bad as the seduction of using credit card. Many people who really can't afford a loan to purchase real estate ended up with debt over their dead bodies. It is a misconception and further cut in interest rate MUST stop. The Royal Commission has uncovered some unethical practices of the financial sector, but I hope we do not need a Royal Commission or Consumer Affairs to tell us that RBA is committing social injustice leading to much untold financial hardship for many Australians.
I would welcome RBA release some positive news regarding countries having zero or near zero interest rate, but I doubt it can.
The traditional fiscal and monetary models seem to be archaic in present day. Definition of employment is a joke, the so called coffee culture proudly celebrated by Melbournians is nothing more than a fad. Although cafes are replacing the empty traditional retail stores, the culture will die if the economy gets worse and become truly stagnant. One must be mindful that it is no longer science fiction that robots are taking jobs away!
Thank you for reading.
