Source: Financial Digest (financialdigest.net)
swrighteconomy The reserve bank shouldn’t interfere. Let house prices fall. A good housing price fall teaches this generation a healthy fear of too much debt.
swrighteconomy This ponzi scheme needs zapping. Obsession with it does not generate real wealth. If the same wealth was invested in real economic growth Scandinavia would look like a pooir cousin. Aus has to get out if this shonky commission agent obsession. It does not add real wealth
swrighteconomy Wasnt long ago LNP sloppy Joe told us we needed better paying jobs. Also wanted to change the law so people can use superannuation to buy into this ponzi scheme. Australians going to suffer for a long time...
swrighteconomy We don't need the central bank to realize that the real economy is starting to fall.
swrighteconomy Where was the RBA when the banks were bidding up land prices over the last quarter century? Idiots.
swrighteconomy house prices need to drop another 40/60% to be affordable for Australians
swrighteconomy Omg no
swrighteconomy But it will be good for young couples wanting to start a family. And tradies in their $50K utes have been doing very well. Might even be hit by land tax if it goes up too much. So makes no difference to me if my house drops in value. Not leaving till i’m in a box!
swrighteconomy None of that article makes any sense... cheaper housing = less money to mortgage thus more money to buy things... unless of course you’re stuck with a $600k house you bought for a $million...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Property prices tipped to plunge further as lending slumpsThe Reserve Bank is expected to cut Australia’s already record-low interest rates later this year as house prices continue to plummet. 9News Wonder who’s side RBA is err’ing too?
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Rate cut calls grow as home loans fall at their fastest rate since GFCThe sharpest fall in home loans since the depths of the global financial crisis has prompted calls for the Reserve Bank to slice interest rates | swrighteconomy swrighteconomy Go ahead, cut the interest rates. Affordable housing is a myth, and many apartments close to the CBD are still overpriced to buy at this stage. There's a saying 'Don't try to catch a falling knife'. swrighteconomy Excellent! swrighteconomy Australia reserve bank rates mean little when the banks 'underwritten' by Australia in the GFC place their PROFITS well above the interest of Australian home loan owners... out of cycle rate hikes a sample, MOST profitable banks in world! greed machine driven by the greedy
Source: smh - 🏆 6. / 80 Read more »
The corporate regulator is getting a taste for bank bloodThe freshly turbocharged corporate regulator is throwing grenades into just about every crevice in the banking industry - and Westpac is the latest to feel the heat.
Source: smh - 🏆 6. / 80 Read more »
ANZ admits it was 'overly conservative' in home loansWith its mortgage book shrinking, ANZ chief Shayne Elliott concedes the bank may have been too cautious in its home lending decisions. clancyyeates NOT So overly cautious on legalities of charges & compliance of Laws. no caution on reward for executives pay. for really bad behavior. clancyyeates wtf does that mean? You're a bank-& you can't even make credit decisions? Give up clancyyeates
Source: smh - 🏆 6. / 80 Read more »
Katter willing to extend sitting hours in exchange for bank reform | Sky News AustraliaIndependent MP Bob Katter says he is willing to extend parliament’s sitting hours if he can secure ‘substantial’ reform to the banking and financial sectors prior to the next election.\n\nLabor has called for the Coalition to allow parliament to sit for longer than the 10 days scheduled before the expected federal election in May.\n\nMr Katter says he ‘fought for’ the banking royal commission and wants to see reform enacted.\n\nCommissioner Kenneth Hayne's final banking royal commission report contained recommendations for stricter penalties for negligent mortgage brokers and greater oversight of financial advisors, among other proposed measures.\n\n\n Barnaby_Joyce But the brokers are crooked as a bent stick, according to the RC? Barnaby_Joyce Is it just me or does Barnaby look like he has had a long lunch just asking... Barnaby_Joyce Brokers, banks they're all blood suckers
Source: SkyNewsAust - 🏆 7. / 78 Read more »
How the modern-day mortgage broker subverted the old-style bank managerMortgage brokers are undertaking a major ad campaign to defend their industry against Kenneth Hayne's recommendations that they lose their commissions, but many of their arguments struggle to stack up. The mortgage broker was an integral part of the scam on We the People by the Banks with the aid of their Regularities. John Howard & Peter Costello invented the Low Docs Loans in the nineties and told the Banks to go after pensioners homes. Banking is rent seeking. Mortgage broking is rent seeking off the rent seeking. The people doing it a working their butts off to make a living, I am sure, but it serves little productive purpose for the economy auspol 50years ago I could walk into my local CBA and say 'Hi Nick' to the manager 'I want to borrow some money' and he would say 'Hi Andrew how much do you want?' And that was it. We knew each other, but now it's a despicable ripoff game.
Source: abcnews - 🏆 5. / 83 Read more »
Former Trump campaign chair Paul Manafort faces 19 years in jailThe one-time chairman of Donald Trump's presidential campaign, Paul Manafort, could face 19 years in jail on tax and bank fraud charges. Good, he broke the law. Manafort, simply put is a liar, cheat, thief, therefore should be incarcerated. Unfortunately there is still many more liars cheats thieves yet to be unearthed. Trump like his father liar cheat thief, enough said.
Source: SBSNews - 🏆 3. / 89 Read more »
Paul Manafort faces up to 24 years in prison | Sky News AustraliaDonald Trump's former campaign chairman Paul Manafort could spend up to 24 years in prison after being found guilty of tax and bank fraud charges.\n\nProsecutors for special counsel Robert Mueller have urged a federal judge in Virginia to impose a prison sentence of between 19.6 and 24.4 years on the 69-year-old.\n\nManafort also faces a fine of between $US 50,000 and $US 24m in restitution.\n\nManafort was one of the first people in Mr Trump's circle to face criminal charges as part of Mr Mueller's investigation into whether the Trump campaign colluded with Russia to tilt the 2016 presidential election in his favour.\n\n\n\n\n\n Still no collusion But what does that have to do with Russian collusion? This is sour grapes. realDonaldTrump will pardon him before he leaves office. Illegal alien enters country, kills and rapes citizen. Leftist logic= slap them on the wrist and give them citizenship Citizen commits tax fraud. Leftist - 'Hang them by the noose'
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Laptop 'for him', vacuum 'for her'? HSBC draws ire with staff offerA Valentine's day special for staff offering discounted laptops 'for him' but vacuum cleaners and kitchen appliances 'for her' has angered workers at the bank. They can find victimhood anywhere these days. Narwee2209 BREAKING NEWS: Secretly captured footage from HSBC headquarters.
Source: smh - 🏆 6. / 80 Read more »
Australian farmers worst hit by big banks: whistleblower | Sky News AustraliaFarm debt mediation is just one of many of the Banking Royal Commission recommendations whose implementation should be prioritised, says former Commonwealth Bank employee-turned-whistleblower Jeff Morris. \n\nMr Morris told Sky News Australian farmers have been most negatively impacted by the banking sector and ‘this modern style of crash bang banking’ \n\nHe has urged the government, together with banks, to take immediate action. \n\n\n\n\n\n\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »