Is it just me or does logic have no place in politics?

[schnootle]

I am perpetually amazed at how the government (and the media) flog their "first home buyer" products. ie the "first home buyer grant" and the "first home buyer savings account". Am i missing something or are both of these really stupid?

I would have though that it would be obvious that any extra cash available to all first home buyers is going to pretty quickly get priced into houses at the bottom end, so in reality we are not any better off it just props up the prices of existing home owners. I think they need to be more honest that it is about protecting the house value of existing home owners, and potentially fueling a dangerous bubble. If they want to give first home buyers a leg up (which i think they should) why not give us stamp duty concessions in comparison to second home owners? this would have a similar affect without being inflationary.

Now the first home buyers savings account is simple patronizing and plain crazy. The long and bizarre list of requirements makes this account completely useless to anyone except people with no financial management skills. They force you to have your money in the account for 4 years and then buy a house and only a house, if you breach either the money goes to super. Both of these are ridiculous, what if you want to buy after three years?, what if your relationship breaks down?, what if you lose you job and want to use the money to live on?. Not to mention the fact that interest rates on these accounts are less than the nominal because they cost money to administer unlike normal bank savings accounts.

Add in fuel watch and grocery watch and Kevin Rudd has totally lost my vote.

 

[Naked shorts]

Re: Is it just me or does logic have no place in politics

I am perpetually amazed at how the government (and the media) flog their "first home buyer" products. ie the "first home buyer grant" and the "first home buyer savings account". Am i missing something or are both of these really stupid?

I would have though that it would be obvious that any extra cash available to all first home buyers is going to pretty quickly get priced into houses at the bottom end, so in reality we are not any better off it just props up the prices of existing home owners. I think they need to be more honest that it is about protecting the house value of existing home owners, and potentially fueling a dangerous bubble. If they want to give first home buyers a leg up (which i think they should) why not give us stamp duty concessions in comparison to second home owners? this would have a similar affect without being inflationary.

Now the first home buyers savings account is simple patronizing and plain crazy. The long and bizarre list of requirements makes this account completely useless to anyone except people with no financial management skills. They force you to have your money in the account for 4 years and then buy a house and only a house, if you breach either the money goes to super. Both of these are ridiculous, what if you want to buy after three years?, what if your relationship breaks down?, what if you lose you job and want to use the money to live on?. Not to mention the fact that interest rates on these accounts are less than the nominal because they cost money to administer unlike normal bank savings accounts.

Add in fuel watch and grocery watch and Kevin Rudd has totally lost my vote.

Yes the governments are complete jokes.
Always have been, always will be.

The fundamental problem is, we live in a democracy, where uneducated people have a voice....a voting voice, and most voting voices are uneducated.

Doing the right thing for the economy will never get votes because voters don't know whats right for the economy.

Save up your money and move to an island in the Mediterranean...oh wait, they made it even harder to save your money now that interest rates are at record lows, banks are now zombiefied and they are trying to keep the prices of everything at these inflated levels by giving everyone handouts.

When you do get the money to fly out, lets just hope it isn't on the day all the workers decide that they spent too much on booze/weed/cigarettes/pokies on the weekend and now want a payrise so they can "feed their families".

 

[MACCA350]

it is about protecting the house value of existing home owners

Isn't that exactly what they are trying to do.
As I understand it, if they do nothing to keep values up and they topple over and loose much of their value many other parts of the economy will be affected since property is a major asset backing funding.

On the other hand I'm hoping for such a crash in property values, the worse the better since we're cashed up and looking to buy

cheers

 

[So_Cynical]

Politicians do stuff to get elected and stay in power...until they get to much power and
implode like the Howard govt after they got control of the senate and before that when
the stupid Democrats imploded by passing the GST.

On the occasion that politicians do something with lasting goodness its always as a by
produced of the above.

 

[tommymac]

The FHSA will (probably is) be used by financial planners for their clients who have not purchased a house but wish to increase their super. (Contrubte $5K and receive $850 from the Govt for free.)

However, you only earn an interest rate. ANZ has 4% and who knows if this will increase when interest rates increase.

My bet is these will be used more for super than first home buyers. The Govt knew this which is why it was structured this way.

While I think the FHSA is a good way to increase super if that is what you want, I have never agreed with the FHG or FHSA being used to prop up the property sector as it does not make houses more affordable but increases the costs. Now "experts" are saying it could be the next bubble to pop.

http://business.smh.com.au/business/alarm-over-firsthome-time-bomb-20090412-a40b.html

 

[sinner]

Anyone who watches question time or similar for the Senate or House of Reps, would know the answer to your question.

Backbencher A: Minister for Something [some reasonable question about something important probably posed by an concerned constituent]
Minister for Something: Bla bla bla spouting crap nothing to do with the question
Speaker: Minister for Something, your time is up, please take your seat.

The Liberals took this to a whole new level when they were in power and now the Labs have realised they can just do the same thing.

If you have seen Penny Wong dribbling over the environment you would think she was John Howards chief disinformation staff.

Almost all politicians are scumbags (Sandra Kanck from SA being the only exception I'm willing to admit) and the sooner this country gets off its fat politically apathetic **** to lynch the lot of them, the better.

Can't wait to see MrBurns and Julia in here ragging on Rudd.

 

[Naked shorts]

Anyone who watches question time or similar for the Senate or House of Reps, would know the answer to your question.

Backbencher A: Minister for Something [some reasonable question about something important probably posed by an concerned constituent]
Minister for Something: Bla bla bla spouting crap nothing to do with the question
Speaker: Minister for Something, your time is up, please take your seat.

The Liberals took this to a whole new level when they were in power and now the Labs have realised they can just do the same thing.

If you have seen Penny Wong dribbling over the environment you would think she was John Howards chief disinformation staff.

Almost all politicians are scumbags (Sandra Kanck from SA being the only exception I'm willing to admit) and the sooner this country gets off its fat politically apathetic **** to lynch the lot of them, the better.

You missed this part:

Backbencher: On a point of order, the minister has not answered the question!
Speaker: The minister will answer the question
Minister: blah blah not me, blah crap blah
*heckling in background*
Speaker: Backbencher warned
Minister: crap, blah crap
*more heckling*
Speaker: Backbencher ejected from house
Speaker: Time is up, next question


Question time is great for entertainment value. The way in which these ministers manage to avoid the most career threatening questions by removing all personnel liability and turning the question around to make "those opposite" look like the scum of the Earth, never ceases to amaze.

 

[MACCA350]

While I think the FHSA is a good way to increase super if that is what you want, I have never agreed with the FHG or FHSA being used to prop up the property sector as it does not make houses more affordable but increases the costs. Now "experts" are saying it could be the next bubble to pop.

http://business.smh.com.au/business/alarm-over-firsthome-time-bomb-20090412-a40b.html

From the article:

Mr Manning said despite house prices remaining relatively flat over the last year, the first-home buyers' average loan size had increased 14 per cent to $283,000

They must be looking for trouble.

cheers

 

[sinner]

Hi Naked shorts,

Thanks for including a comprehensive transcript of every single question time ever :

Just want to point out that Sandra Kanck actually finished late last year, so we can safely lynch all the politicians without asking questions, but we should do it soon.

I think political apathy is a result of being in such a good society, nobody gives a **** because it doesn't affect them directly, but they will turn up to the Kleenmaid CEO with a sledgehammer in hand.

Wishing for hardship is not something I want to do, but don't really see any other recourse before people will finally hold these jerk offs accountable!

Perfect example: children overboard. Who cares right? It's just a bunch of doctored photos published by the in-power government which allowed it to ignore its duties under several internationally ratified obligations and instead lie to the public and push for even worse human rights abuses!

Meanwhile people are complaining about the most asinine **** like Rudd making some air-force hostess cry. Where were they when anti sedition laws were passed? Or when NSW police were recently given the power of secret search and seizure?

The basis of our democratic society is being eroded by these ****-wits and all we care about is the latest witty permutation on the name Rudd. What is it now? Krudd? Ruddy-duddy? I just can't keep up.

See you got me ranting now.