Then he should have acted sooner and had it in August or just left it at the 14th of September. Just seems weird to bring it forward a week
http://www.news.com.au/national-new...tes-on-smooth-fm/story-fnho52ip-1226692048149
this is a classic. The Labor party trying to take credit for low interest rates
The coalition are happy to blame the Labor party for creating an economic crisis that requires the RBA to drop rates. At least it stopped their mantra that the interest rates will always be lower under a coalition government.
The coalition are happy to blame the Labor party for creating an economic crisis that requires the RBA to drop rates. At least it stopped their mantra that the interest rates will always be lower under a coalition government.
The European Central Bank (ECB) left interest rates at a record low 0.5 per cent yesterday and affirmed they will remain there for some while to come and could yet fall further.
Meanwhile, the Bank of England also maintained interest rates at 0.5 per cent and opted not to revive its bond-buying programme, as expected.
The benchmark interest rate in the United States was last recorded at 0.25 percent. Interest Rate in the United States is reported by the Federal Reserve. The United States Interest Rate averaged 6.14 Percent from 1971 until 2013, reaching an all time high of 20.00 Percent in May of 1981 and a record low of 0.25 Percent in December of 2008.
Yes, that was the good old days. Now a low interest rate is to try to prop up a faltering economy. If Rudd gets back in it will drop further, maybe 0.5% one day.
The coalition are happy to blame the Labor party for creating an economic crisis that requires the RBA to drop rates. At least it stopped their mantra that the interest rates will always be lower under a coalition government.
No one expected, in six short years of Labor, the economy could stall on most fronts.
Yes, that was the good old days. Now a low interest rate is to try to prop up a faltering economy. If Rudd gets back in it will drop further, maybe 0.5% one day.
boofhead- interest rates which are too low are not healthy. Much like body temperature - go too low and you can die. Even a couple of degrees below normal is not a healthy state.
Rudd himself declared that interest rates at 3% were at emergency levels and now the struggling economy is causing rates even lower.
Under Howard low rates were within the healthy range - these abnormally rates under labor are signs of trouble.
Is that so hard to understand?
boofhead- interest rates which are too low are not healthy. Much like body temperature - go too low and you can die. Even a couple of degrees below normal is not a healthy state.
Rudd himself declared that interest rates at 3% were at emergency levels and now the struggling economy is causing rates even lower.
Under Howard low rates were within the healthy range - these abnormally rates under labor are signs of trouble.
Is that so hard to understand?
Well if they are pushing for a housing boom, in an already overheated market. What is going to stop us from having a property crash, like the U.K.
boofhead- interest rates which are too low are not healthy. Much like body temperature - go too low and you can die. Even a couple of degrees below normal is not a healthy state.
Rudd himself declared that interest rates at 3% were at emergency levels and now the struggling economy is causing rates even lower.
Under Howard low rates were within the healthy range - these abnormally rates under labor are signs of trouble.
Is that so hard to understand?
Does anyone on this forum honestly think our domestic policies are having a more significant effect on our exchange and cash rates then the global macroeconomic picture?
.
Factor in providing above average increase on the pension with every increasing levels of people applying for it, and I really don't see how we are going to cope..
Too many powerful voting blocks will squeal to the MSM and any reforms that are good for the country will pretty much be watered down so much they wont achieve much. That's the pathetic democracy we have at present. Politicians more worried about seeking power than actually providing the policies that will help up cope with the massive structural changes that we can't avoid.
It is only my own opinion, and most will probably disagree with me, but I have always believed the replacement of Rudd with Juliar Gillard in 2010 was engineered to release Rudd to become foreign Minister in 2010 to establish himself for the UN Secretay General's job at the end of 2012. He would not have been able to take up such a position while being Prime Minister but everything went 'belly up' and Rudd was the loser on both counts; as Prime Minister and as UN Secretary General. But things went from bad to worse as Gillard established herself with the Labor Party leadership and the rest is history.
The images from that time paint a telling picture.Seems like you've been smoking the good stuff.
Difficult to determine whether a 'more significant' effect or not. But undoubtedly a very clear significant effect imo.Does anyone on this forum honestly think our domestic policies are having a more significant effect on our exchange and cash rates then the global macroeconomic picture?
Ah, a true disciple of the Labor mantra. The Coalition has not suggested, afaik, that it's not possible for Australia to control its own destiny, irrespective of global situation.It's posturing on both parties behalf in a situation in which they have very little control.
You might like to have a look at an interview due to be broadcast on "7.30" tomorrow evening, an interview with the new CEO of BHP. He directly contradicts the government's insistence that the mining boom is over.Irrespective of who takes us forward into 2014, if the slow down in mineral demand continues we will continue to see a fall in our cash rate and exchange rate. Period. Care to suggest a policy that either party could take forward that would drive global mineral demand?
Agree, as does pretty much everyone who has expressed an opinion on this, apart from Mr Abbott himself.Abbott's on the right path (in this matter), and I couldn't care less where (if at all) he funds his company tax rate cut from in the short term. Pity he had to link it to the maternity scheme which although aimed at workforce participation, is more middle-class welfare IMO.
On this latter point, today we have the esteemed Clive Palmer telling us we need to be putting in place a rise in the age pension of $150 p/f. Sadly, he didn't explain how this could be funded.Howard had a mining capex boom from 2-8% of GDP
Labor is facing a capex decline of 8-2% - hence the decline in interest rates.
Whoever wins next month is going to have to try and manage a MASSIVE decline in the ToT and mining capex, while also dealing with the slow and steady worsening of the dependency ratio. Factor in providing above average increase on the pension with every increasing levels of people applying for it, and I really don't see how we are going to cope.
And that's the truth.Too many powerful voting blocks will squeal to the MSM and any reforms that are good for the country will pretty much be watered down so much they wont achieve much. That's the pathetic democracy we have at present. Politicians more worried about seeking power than actually providing the policies that will help up cope with the massive structural changes that we can't avoid.
Seems like you've been smoking the good stuff.
Ah, a true disciple of the Labor mantra. The Coalition has not suggested, afaik, that it's not possible for Australia to control its own destiny, irrespective of global situation.
I like to think I'm a true disciple of macro-economics, specifically in this case the International Fisher Effect. In the same way that I don't give Labour sole, even majority, credit for 'saving' us from recession, I don't give Labor majority blame, for the decreasing rates.
The more intertwined our economy becomes within the global arena, the less control we have. My comments on fiscal policy were regarding how we can control our destiny with the tools available.
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