wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
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Yep I can see Albo doing a speech in a few months time about the "recession we had to have" (by then Scotty will probably be the Oz ambassador to the WEF
Yep I can see Albo doing a speech in a few months time about the "recession we had to have" (by then Scotty will probably be the Oz ambassador to the WEF@Smurf1976 my oldest is 43, he has never seen how difficult things can get, it just appears to me that there are too many coincidences lining up ATM.
I'm not a great believer in coincidences.
And Josh with his feet up on the opposition bench, hands behind head, saying thank god for that.Yep I can see Albo doing a speech in a few months time about the "recession we had to have" (by then Scotty will probably be the Oz ambassador to the WEFor perhaps the trade commissioner for Hawaii)
A lot of wage slaves on the interest treadmill atm, squeeze time might be here, very soon.How are they going to get immigration on a grand scale if there are no houses to rent or buy?
I think it's time the rba jacked up rates. This shts gone on long enough.
I'm just quoting this for emphasis. Working for a living is a complete fool's errand in this day & age. If there's one thing I'll be drumming into my kids' heads from the day they get their first part time jobs it is that in two thousand and current year you must, you absolutely MUST own at least *something* or you are absolutely boned.At various times I've been in every marginal tax bracket from below the threshold to the highest rate.
No doubt so have many so to be clear that's not a boast, just saying "been there, seen that".
If the source of income is employment then at either end you are owned.
At the top well if you're being paid big $ there's a reason for that, there's almost certainly some serious responsibility that comes with it and whoever's paying expects results.
At the bottom well if you're on minimum wages then you're easily replaced.
At either end someone owns you. Not a problem if you're happy with that, big problem if not.
Only get worried when the politicians start selling their **** off. Until then, the rocket's still running.How are they going to get immigration on a grand scale if there are no houses to rent or buy?
I think it's time the rba jacked up rates. This shts gone on long enough.
I read somewhere recently, the Government is going to make reverse mortgages, more and more attractive.I'm just quoting this for emphasis. Working for a living is a complete fool's errand in this day & age. If there's one thing I'll be drumming into my kids' heads from the day they get their first part time jobs it is that in two thousand and current year you must, you absolutely MUST own at least *something* or you are absolutely boned.
The age pension, healthcare expenditure etc requirements of the boomers is a depression-causing chicken coming home to roost that they're trying to do anything to get out from under the thumb of.I read somewhere recently, the Government is going to make reverse mortgages, more and more attractive.
IMO the intergenerational transfer is worrying them.
There is still high/hyperinflation, as discussed before, though not without its own set of consequences.The age pension, healthcare expenditure etc requirements of the boomers is a depression-causing chicken coming home to roost that they're trying to do anything to get out from under the thumb of.
They do NOT want to pay for the boomers' retirements. They also know that housing is, shall we say, very high. Hence why they've been floating the idea of inheritance taxes - anything to get the boomers' retirements *somehow* paid for with their own assets (even if it's retroactively).
There is simply no way the budget expenditure can blow out like it's going to without causing a massive and prolonged recession under the current tax etc structure. It simply cannot be done.
So they're left trying to wriggle and squirm and just think of *something* they can do and keep coming back to using housing in one way or another because where the hell else are they going to get the money from?
The piper's going to have to be paid eventually. If they had their way all the entitlements would simply go but getting rid of them is a political impossibility so we're once again back to having to tax or reverse mortgage or whatever in order to fund the spending.
There's simply no other purse, asset, nest egg etc LEFT to raid at this point. Most industries were laid waste to 30 years ago, any public asset not nailed down was flogged by howard & co 20 years ago, there's just nothing else left now.
Bingo.Easiest way to cut back on pension would be to include house values in the assets test. Might also help to put a lid on runaway house prices. How to bring it in without losing votes will be the problem.
With runaway inflation, pension just need to un indexed and it becomes a non issueEasiest way to cut back on pension would be to include house values in the assets test. Might also help to put a lid on runaway house prices. How to bring it in without losing votes will be the problem.
Just extend the reverse mortgage facility, to be like a superannuation pension, with minimum withdrawals.Easiest way to cut back on pension would be to include house values in the assets test. Might also help to put a lid on runaway house prices. How to bring it in without losing votes will be the problem.
I think it depends how it is sold, in the past it has been a case of demonizing old people and saying they should be chucked out of their home or lose the pension, then the other side says why should they have to lose the house they have lived in for years just because it has gone up in value.i would not be surprised if it takes a more global event (like mortgage defaults in other countries) or similar to trigger a bit of fear, and then see a spooked/downward spiral. i've said it in other posts, but i dare say it will be a tinderbox though I still hope it wont be.
until then, its a game of hot potato for whoever is currently the government in power.
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