Comments on: A Rant About Interest Rates, Banks & Australia’s Economy http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/?utm_source=rss&utm_medium=rss&utm_campaign=a-rant-about-interest-rates-banks-australias-economy Pining for the days when blogs were cutting edge Wed, 21 Sep 2011 09:30:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Busso http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-814 Busso Mon, 15 Mar 2010 04:08:06 +0000 http://twosittingducks.com/?p=73#comment-814 Not sure if you will get this by my hittoing the reply button. I know how it<br>is when you don't have inspriation so if you have none I guess it is the<br>end. Marfs niaggs me about updating all the time so I don't want to do that<br>to you. Just wanted to let you know that I appreciated your computer input.<br>Guess that is usually the only way I know much of what is happening with "my<br>boy"/<br><br>Love<br>Mom Not sure if you will get this by my hittoing the reply button. I know how it
is when you don't have inspriation so if you have none I guess it is the
end. Marfs niaggs me about updating all the time so I don't want to do that
to you. Just wanted to let you know that I appreciated your computer input.
Guess that is usually the only way I know much of what is happening with “my
boy”/

Love
Mom

]]> By: canion http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-813 canion Sun, 14 Mar 2010 20:52:29 +0000 http://twosittingducks.com/?p=73#comment-813 Thanks Mom, it's funny, Hannah and I were just talking about the future of this site today! We really don't know what to do with it - I think we have both lost the motivation to write on here, so not sure what to do now! Thanks Mom, it's funny, Hannah and I were just talking about the future of this site today! We really don't know what to do with it – I think we have both lost the motivation to write on here, so not sure what to do now!

]]> By: Busso http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-812 Busso Sun, 14 Mar 2010 19:07:21 +0000 http://twosittingducks.com/?p=73#comment-812 I really do misss tsd. Would you think about starting it up again. I enjoy reading your thoughts and ideas on things of interest. I really do misss tsd. Would you think about starting it up again. I enjoy reading your thoughts and ideas on things of interest.

]]> By: the main man http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-769 the main man Wed, 21 May 2008 17:41:17 +0000 http://twosittingducks.com/?p=73#comment-769 <p>There are several things at issue here:</p> <ol> <li><p>The media and other outlets have pointed out enough times that low interest rates are a freak phenomena and anybody with half a brain should have fixed their interest rates. </p></li> <li><p>There are still homes that can be bought on one income - townhouses, units and outerlying residences. If people are so stupid as to go for the old 4 bed/2 bath/2 car garage complete with 2 cars, home theatre system and kids, whose fault is it? People have to learn to live within their means. Why should housing be made cheaper so it takes only one breadwinner to pay for it?</p></li> <li><p>Saying that banks should sacrifice interest rate rises, lower payments to shareholders is like telling politicians not to take payrises unless everyone has a job, crime is low etc. The real world doesn't work that way. If bank's shares are cheap, they get taken over, shareholders abandon shares that don't pay sound dividends and go for other shares. </p></li> <li><p>Yes I agree there are battlers out there struggling to make ends meet. I'm one of them - but I accept that these are things I CHOSE to do and not do. By now anyone who in their 20s to 40s should know that the pension isn't something they can rely on - and I can bet in the next 10 to 20 years, these people will still be complaining about their pensions, when the writing was well and truly on the wall.</p></li> </ol> There are several things at issue here:

  1. The media and other outlets have pointed out enough times that low interest rates are a freak phenomena and anybody with half a brain should have fixed their interest rates.

  2. There are still homes that can be bought on one income – townhouses, units and outerlying residences. If people are so stupid as to go for the old 4 bed/2 bath/2 car garage complete with 2 cars, home theatre system and kids, whose fault is it? People have to learn to live within their means. Why should housing be made cheaper so it takes only one breadwinner to pay for it?

  3. Saying that banks should sacrifice interest rate rises, lower payments to shareholders is like telling politicians not to take payrises unless everyone has a job, crime is low etc. The real world doesn’t work that way. If bank’s shares are cheap, they get taken over, shareholders abandon shares that don’t pay sound dividends and go for other shares.

  4. Yes I agree there are battlers out there struggling to make ends meet. I’m one of them – but I accept that these are things I CHOSE to do and not do. By now anyone who in their 20s to 40s should know that the pension isn’t something they can rely on – and I can bet in the next 10 to 20 years, these people will still be complaining about their pensions, when the writing was well and truly on the wall.

]]> By: Jeffrey Lebowski http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-207 Jeffrey Lebowski Sat, 12 Jan 2008 02:08:57 +0000 http://twosittingducks.com/?p=73#comment-207 <p>The biggest barrier to moving banks is state government stamp duty. If you are paying the standard rate you are not talking to the right people. Negotiate. Whatever you do don't fix your interest rates. I think families will be ok - we turned out alright didn't we? I thank God because he looks after me and the ones that I love and the ones that I don't love too. The big question is whether the US Fed will have the discipline to make banks pay for poor risk assessment practices or have we got to the stage where the treatment (indulgence and let the tax payer fund the solution over generations) is less painful than the cure (let some big companies go broke and kick people out of their homes because they bought stuff they couldn't afford). I think the former will prevail, and who knows whether that is right or not. We were all have-nots but there is no fate to suffer, just the decision as to whether you want to pay the price to become a have? I think we are all doing that right now in one way or another...and maybe later on we wil choose to be a have-not....I have done both but it really doesn't matter in the long run. It is only money. Shalom and thank for having a rant, much more fun for spectators than the geeky links! xxx</p> The biggest barrier to moving banks is state government stamp duty. If you are paying the standard rate you are not talking to the right people. Negotiate. Whatever you do don’t fix your interest rates. I think families will be ok – we turned out alright didn’t we? I thank God because he looks after me and the ones that I love and the ones that I don’t love too. The big question is whether the US Fed will have the discipline to make banks pay for poor risk assessment practices or have we got to the stage where the treatment (indulgence and let the tax payer fund the solution over generations) is less painful than the cure (let some big companies go broke and kick people out of their homes because they bought stuff they couldn’t afford). I think the former will prevail, and who knows whether that is right or not. We were all have-nots but there is no fate to suffer, just the decision as to whether you want to pay the price to become a have? I think we are all doing that right now in one way or another…and maybe later on we wil choose to be a have-not….I have done both but it really doesn’t matter in the long run. It is only money.
Shalom and thank for having a rant, much more fun for spectators than the geeky links! xxx

]]> By: Jennifer http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-206 Jennifer Fri, 11 Jan 2008 23:06:55 +0000 http://twosittingducks.com/?p=73#comment-206 <p>Well said and I agree. I am so glad that I am not of an age that I am buying a house and I make sure that I don't use credit anymore since I am in that pensioner bracket. I just paid $110 for a gas bottle! They don't last a very long time either. I don't know if my belt will go any tighter. I just thank God that there is God who looks after me. I think there has always been this struggle between rich and poor (well, I have experienced it all my life, always seeming to be on the have-not end of the scale, monetarily speaking) but people's expectations are much higher now and due to the increase in media we all know so much more about what the haves have</p> Well said and I agree. I am so glad that I am not of an age that I am buying a house and I make sure that I don’t use credit anymore since I am in that pensioner bracket. I just paid $110 for a gas bottle! They don’t last a very long time either. I don’t know if my belt will go any tighter. I just thank God that there is God who looks after me. I think there has always been this struggle between rich and poor (well, I have experienced it all my life, always seeming to be on the have-not end of the scale, monetarily speaking) but people’s expectations are much higher now and due to the increase in media we all know so much more about what the haves have

]]> By: marfs http://twosittingducks.com/2008/01/a-rant-about-interest-rates-banks-australias-economy/comment-page-1/#comment-205 marfs Fri, 11 Jan 2008 11:43:17 +0000 http://twosittingducks.com/?p=73#comment-205 <p>Our bank was 'nice' enough to add a 0.05% increase to the last Reserve Bank increase. When we got our notification from the bank of our new payment schedule, they had listed our interest rate jumping 0.3% instead of the expected 0.25%. When we rang to point out their 'error', they informed us that they reserved the right to increase as they wish outside of the Reserve increase, and infact it was due to them paying back their debts to their American lenders. I know its a big circle, but its hard to stomach a higher 'extra' rate on money that we borrowed from them quite a few yaers ago! Remember when you used to get excited checking the letter box for mail?</p> Our bank was ‘nice’ enough to add a 0.05% increase to the last Reserve Bank increase. When we got our notification from the bank of our new payment schedule, they had listed our interest rate jumping 0.3% instead of the expected 0.25%. When we rang to point out their ‘error’, they informed us that they reserved the right to increase as they wish outside of the Reserve increase, and infact it was due to them paying back their debts to their American lenders. I know its a big circle, but its hard to stomach a higher ‘extra’ rate on money that we borrowed from them quite a few yaers ago!
Remember when you used to get excited checking the letter box for mail?

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