Does the Reserve Bank keep making the same mistakes?

[@chellybub]

You know who will wear the cost, bare the responsibility. It's the same as always Mark. It will be the average punter, the battler working hand to plate who holds up the rest of society on their back. We all know it.

[@LordEriolTolkien]

But on the Plus side, Banks, Pharmaceutical Companies, and Energy Companies have recorded record profits, so at least no-one of any consequence lost out

[@byza101]

The problem is, they engineer these boom through low interest rates and giving the banks the all clear to lower lending standards, then they ratchet the rates up to put the brakes on. It’s the classic J curve by design. Anyway they’ve stuffed it this time. How on earth will the children of today be able to afford a house or unit and have a reasonable mortgage???

[@mjb6446]

It's funny I never saw any videos like this showing concern when the cash rate was cut to 0.10% and house prices went to the moon locking out hundreds of thousands of young people from home ownership.

[@loconut52]

Well said Mark I totally agree.

[@deanandlindaspalletsigns281]

Absolutely agree with you Mark the Reserve bank is holding Australia back. Australia could be the world leader in wealth of it wasn't for the reserve bank. I can't think for the life of me why a country like Australia is so afraid to take the lead economically and why we rely on the American's and Pom's to hold our hand.

[@build9242]

Yes, we deserve better. That's why 110 countries are busy creating central bank digital currencies, a brand new system c/o the WEF. It will be grand.

[@midnightspares]

Mark, l see a perfect storm collecting momentum as the RBA Governor term expires ( as you know ) in September 2023. Phillip Lowe’s speech last week smelt off to me. It was in part a legacy speech l found, which signals to me he’ll take things easy until September handover which is inevitable to cement his legacy in terms of “l didn’t crash the economy, l just raised rates according to data” so to speak. Phillip Lowe in my opinion should be paid out in April & install the new RBA Governor in & if need be some board members. The reason being, by September the American economy won’t be in good shape. Powell looking to cut 2 million jobs this year alone, he is concrete on 2.2% inflation target, bank instability ahead, trillions worth of loans need to be extended in June. US rates will continue to rise. Big problems over there ( as you know ) Get the new RBA Governor in ASAP & settled in otherwise he/she has a bunch of excuses to use as to why potentially the Australian economy fell into a deep recession or 2 wave of inflation etc. My 2 cents worth.

[@raccuia1]

It's a disgrace. RBA pumped a huge amount of money into the economy during the pandemic when no one could spend it because of lockdown and lock out, low interest rates. Then Lowe came out with his 2 year interest rate forecast and stuffed it up causing millions to act on it and now they are in the mire and Lowe in his fake apology blamed them. Lowe says inflation is evil. Ridiculous words. Inflation is an expectation in any economy. 2 or 3 years of inflation under 15% is not evil. Let things sort themselves out after covid. Sure, take money out of the economy - higher rates - but do it gradually, not in a panicked sledgehammer way. Maybe 1% a year. And slowly inflation will attenuate. But the diseased thinking of Lowe and his band of idiots at the RBA is draconian and sick. The inflation figure fell recently. Surely, that would be time to pause and let the rate rises start to kick in. Instead, Lowe, again makes another forecast that more rate rises are coming. Why doesn't he shut his effing mouth and act on the data in a steady, measured, responsible way that does not destroy people who have a loan. The system is rotten and needs to change.

[@coasteyscoasteys]

Midnight Bargain price housing coming up and more homelessness You beauty

[@trotts1885]

Raise gst on people buying crap

[@cliffmarriott4244]

110% I agree

[@Trevor7727]

Award wage for a number of industries is $960 per week, average mortgage $900 per week…how the hell does that work? people need houses but not everyone needs a home equity loan and that’s what’s caused the problem. If we want to believe consumption is the driver, Instead of corporate push on prices.

[@paulsalvestrin7253]

I think it's more of the people that make these decisions don't suffer any type of consequence for their bad decisions, and as a result i would suspect not enough thought is put into them.

[@cvarikos]

I wanna know why a 60 yr old house ( in a reasonable area is now worth 2 million dollars ) in Sydney. Does anyone understand what it takes to pay that off from scratch? Affordability is now traded off for the supposed 'lifestyle ' we're meant to be getting. Tell me anyone who prefers a view (or Sydney lifestyle) to being secure and not stressing about bills. Lived in dee why for 10 years.. there are 24k ppl. Do you know how many people are actually on the beach through the work week.. I'd count about 30 ppl. Noone has time or energy Mark. The up keep on these old places plus a mortgage is the antithesis to these dreams you're sold on.. Things had value before .. now we're seeing a culture where if more is possible let's keep pushing the everyday person. Less time.. more busy .. more rushed .. less spare .. um no spare change. In the 80s and 90s it seemed like hard work would get you somewhere. Nowadays there is no chance for the younger generation unless you have fantastic help. Even an excellent salary now doesn't give you that much in comparison to house prices. You're still gonna end up working hard for 40 years without connection with your family. This is Sydney. So we moved out of our shitty 50 yr old unit in dee why and bought a 20 yr old house up the coast for 15% less. It's been fantastic.. great community... greater lifestyle. But still .. this economy has made that little bit of cream we worked hard for disappear really quickly. It's back to working 2 jobs.. and having reduced patience for family. I'm one of lucky ones with flexibility in my work .. just can't imagine these poor bastards commuting to work. BTW pay structures need to be looked at too. We aren't living in ancient Egypt anymore.

[@coasteyscoasteys]

Cvarikos Main thing to point out is that it's a 60 year old house !!

[@petercilemanoff5603]

Yeah we deserve better but we also need to organise better and tell governments they are not doing the right thing.

[@christaylor7049]

Well Mark don't blame the reserve bank, blame government policy previously,low capital gains tax on real estate, negative gearing And lets not forget the ridiculous low interest rate base for the previous 12 years, and human greed, yes I also was paying high interest rates last time around working 2 jobs plus and I didn't have to sell, because no car loan no credit card debt , no cafe society, not pissing up every day

[@lukea9873]

its a global problem, would rather higher interest rates than hyper inflation

[@MrkBO8]

People dont understand this. At 7% inflation, prices double in 5 years, bread, milk, fuel etc. Let this get out of control and 72 hours after mothers cant feed children there will be riots and looting on the street. My thoughts are this ends with the cash rate at about 8-9% because the govt is hell bent on keeping prices high through subsidies, immigration and other policies.

[@lukea9873]

@@MrkBO8 yeah true, i work in mining and it seems all my co workers just wanna blame the gov like its some selfish ill-timed thing they're doing. It's like nah. It's like go see whats happening in countries with hyper-inflation...turkey or iran i think? I dunno, everything is ruined.

[@SLWH13]

Central bank liquidity pump and dump

[@Cruelaid]

💯…. Shut up and take our money

[@Jimbo77696--]

Not mistakes. Same manipulations plan.

[@ee233]

Why do we follow what the US is doing?

[@Helena-ou8ry]

Seriously I am to the point of can I choose inflation! It would be cheaper! The level of discrimination against women and disabled and young people governor Lowe is responsible for is staggering, it’s fine to be able to get loan after loan after loan, if you’re a employed executive with no dependents. But the rest of us need our husbands to sign to say we are even allowed to have a $500 credit card!!!!! How are we to save up to catch up to the assets inflation he caused and have a secure financial life!

[@coasteyscoasteys]

Helena Are you saying your husband has locked you at home and you're fully dependent on hi

[@Helena-ou8ry]

No I have 2 children that are autistic so can’t get after school care and need to be available to pick them up if the school can’t cope. I been a woman of a high earning spouse, I am not entitled to any kind of government support ((money, training, help finding jobs) and having not worked in a decade have a resume that even in this climate employers pass on. So I am like a lot of dependent spouses I have to ask if I can even have money for a coffee. My husband does give me “pocket money “

[@sojibrajii]

Hi bro, U need attractive KZbin Thumbnail designer?

[@motha_trucker]

read the book "A History of Central Banking and the Enslavement of Mankind"

[@MrBadjohn69]

People that have a hard time paying their mortgages monthly have either bought a house that is too expensive or they live paycheck to paycheck which is not financially wise. When money is tight, stop buying coffee at STARBUCKS, give up your drinking night, and drive a car for 10 or more years. BTW why are you going on a vacation if you are broke?

[@samanthaf1992]

Quite the overgeneralisation there. So many assumptions.

[@MrBadjohn69]

@@samanthaf1992 Really? Just how under water are you on your mortgage? Have you started to save for your retirement yet? BTW how many cups of coffee do you buy from Starbucks daily?