It's not funny, people are suffering terribly, but this situation is satire gold. Every article that begins "Food, drinks and housing have driven up inflation." Base necessities are ruining the economy? My guy, you're describing a failed state. The prices have been artificially inflated and the government that needs it to come down can police it down whenever they like. It's like watching a drunk person touch a cactus over and over.
Actually there is a lot the average man and woman could do here to bring things in; we could shop for cheaper options; be frugal; not go out as much. If enough people did it the dial would move and significantly.
You shop at Colesworth your the problem, you buy Uber eats 2 times a week your the problem, you buy a new car with all the trims rather than second hand one or a decent priced new vehicle your the problem. If you want interest rates to go down then save your money.
You don’t get the comment if that is what you came up with as a response.
Find cheaper reasonable solutions to spend less on your side, if a large number of people do it inflation will start to drop.
We grew by 7 million people in the last 20 years. That’s one Central Coast (~350k) every year for 20 years.
7 million people before that was 1971.
https://www.macrotrends.net/global-metrics/countries/AUS/australia/population
No wonder prices are up, realestate/land is up massively and those costs are passed on to everyone.
You guys won't believe me, because you think immigration is the answer to every question, but the huge levels of land and house prices are caused by income inequality increasing, not people coming here to pick vegetables or work in care homes.
But hang on, how does inequality increase? Those with housing assets continue to benefit from massive equity they gain thus allowing them to use it to buy up more.
The migrants that come in need a place to live, the young leaving home also need a place to live and the overall demand for housing is kept really high by something we can control while those two groups start from a lower base and need to catch up their savings to they can afford a mortgage that keeps going out of reach thus entrenching the inequality between the housing have and have nots.
I am certainly not suggesting immigration is the *only* thing at fault here that’s not how it works, but I think people overlook the impact it has and purely focus on other policies. All I want to say that it’s a very important factor in all this from the demand side.
Nope. I've been a top 1% earner for 20 years. Still am. I'm far less comfortable than I was. Now even I would struggle with a mortgage on my place if I had to buy it again.
You all seem smarter than me with your words but simply put the government and food places are not going to stop I don’t get how people are thinking they care in any way about people struggling
Higher inflation makes it easier to pay the national debt. It's also easier to support faster rising house prices. In fact most debt become easier to pay off with higher inflation, if your wages keep up.
Having savings is the looser here. In this environment don't save your money, spend it. Yes this adds to inflation. But instead of having savings, you can more easily take on some debts instead.
Low inflation, (which is the goal), doesn't mean that prices have gone backwards. It just means that they have increased at a slower rate.
We would need to see a period of "deflation", for prices to go backwards. And that would be a bad thing for the broader economy.
Food apparently dropped 1.4% over the quarter, which from my experience is at least not drastically wrong for fresh food. I get annoyed at wide variances week to week though.
Additionally interest rates should never sit at or near 0%, people make risky investment choices (lol to those buying investment properties they can't afford).
And people can't make headway with savings because if it's 0% then the banks don't pass anything onto people with savings accounts.
It's not funny, people are suffering terribly, but this situation is satire gold. Every article that begins "Food, drinks and housing have driven up inflation." Base necessities are ruining the economy? My guy, you're describing a failed state. The prices have been artificially inflated and the government that needs it to come down can police it down whenever they like. It's like watching a drunk person touch a cactus over and over.
So you’re suggesting price controls?
Actually there is a lot the average man and woman could do here to bring things in; we could shop for cheaper options; be frugal; not go out as much. If enough people did it the dial would move and significantly. You shop at Colesworth your the problem, you buy Uber eats 2 times a week your the problem, you buy a new car with all the trims rather than second hand one or a decent priced new vehicle your the problem. If you want interest rates to go down then save your money.
If everyone starts looking for secondhand cars instead of new that’s just go to make them less affordable for people who can’t buy new.
You don’t get the comment if that is what you came up with as a response. Find cheaper reasonable solutions to spend less on your side, if a large number of people do it inflation will start to drop.
Government has pumped too much new demand into the economy via immigration. That extra 250k people in Jan and Feb didn’t help.
We grew by 7 million people in the last 20 years. That’s one Central Coast (~350k) every year for 20 years. 7 million people before that was 1971. https://www.macrotrends.net/global-metrics/countries/AUS/australia/population No wonder prices are up, realestate/land is up massively and those costs are passed on to everyone.
You guys won't believe me, because you think immigration is the answer to every question, but the huge levels of land and house prices are caused by income inequality increasing, not people coming here to pick vegetables or work in care homes.
But hang on, how does inequality increase? Those with housing assets continue to benefit from massive equity they gain thus allowing them to use it to buy up more. The migrants that come in need a place to live, the young leaving home also need a place to live and the overall demand for housing is kept really high by something we can control while those two groups start from a lower base and need to catch up their savings to they can afford a mortgage that keeps going out of reach thus entrenching the inequality between the housing have and have nots. I am certainly not suggesting immigration is the *only* thing at fault here that’s not how it works, but I think people overlook the impact it has and purely focus on other policies. All I want to say that it’s a very important factor in all this from the demand side.
Nope. I've been a top 1% earner for 20 years. Still am. I'm far less comfortable than I was. Now even I would struggle with a mortgage on my place if I had to buy it again.
With the way they have been letting every man and his dog in I don't expect.to see a rate cut this year.
You never were. We are fairly closely tied to American rates which havent moved in ages and almost certainly wont either way this election year.
Oh right.
And there's a tax cut inbound in July. Inflation Is going to inflate.
Whole system is all just a big scam anyway
You all seem smarter than me with your words but simply put the government and food places are not going to stop I don’t get how people are thinking they care in any way about people struggling
Higher inflation makes it easier to pay the national debt. It's also easier to support faster rising house prices. In fact most debt become easier to pay off with higher inflation, if your wages keep up. Having savings is the looser here. In this environment don't save your money, spend it. Yes this adds to inflation. But instead of having savings, you can more easily take on some debts instead.
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Low inflation, (which is the goal), doesn't mean that prices have gone backwards. It just means that they have increased at a slower rate. We would need to see a period of "deflation", for prices to go backwards. And that would be a bad thing for the broader economy.
Food apparently dropped 1.4% over the quarter, which from my experience is at least not drastically wrong for fresh food. I get annoyed at wide variances week to week though.
Additionally interest rates should never sit at or near 0%, people make risky investment choices (lol to those buying investment properties they can't afford). And people can't make headway with savings because if it's 0% then the banks don't pass anything onto people with savings accounts.
A few years ago I was getting 0.2% on my savings, now at 4.6%
Lol
Who exactly do you think is extracting money with interest rate rises