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#2461 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,340
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Living the dream I suspect Syn haha
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#2462 | |||
FF.Com.Au Hardcore
Join Date: Oct 2014
Location: Newcastle
Posts: 1,782
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Quote:
I put quite a bit of money into gold bullion, flogged it as Russia invaded Ukraine and made some $$$. Left the money in my bank-a large one- earning nothing. About 7 months ago pulled my finger out and found some banks with good interest for SMSFs, and ripped the money out of "my bank" and straddled it over a couple of banks. Been making some ok money in interest as Itsme said. Do your research - need to minimise the devaluing degradation of money sitting under the mattress- unless of course you are defrauding the system by not disclosing assets to get the aged pension when you would not otherwise qualify.....
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Ford Rides: Ford Fiesta ST Mk 8 -daily- closest thing to a go kart on road for under 50K FG X XR8 smoke manual - Miami hand built masterpiece by David Winter, BMC Filter, JLT Oil separators, Street Fighter Intercooler Stage 2, crushed ball, running 15% E85 and 85% 98- weekender |
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#2463 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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All mugs. Should have bought some Nigerian government bonds and collected 15%.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2464 | ||
Ford screwed the Falcon
Join Date: Sep 2013
Posts: 7,062
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Bring on another rate rise tomorrow!
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Falcon: 1960 - 2016 My cars Current ride 2016 FG X XR6 - 6 speed manual Previous rides 2009 FG XR6 - 6 speed auto 2006 BF MkII XT ESP - 6 speed auto 2003 BA XT V8 - 5 speed manual 1999 AU Forte - 5 speed manual 1997 EL Fairmont - 4 speed auto 1990 EAII Fairmont Ghia - 4 speed auto |
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#2465 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
oh yeah? Bought 6 kilos of yellow stuff at 77800 a kilo...2 years ago. Checked the price lately?
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Please press the "Like" button if you enjoy my posts. (It's the red triangle with exclamation mark on the left) |
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#2466 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Please almighty god give us at least a 50 basis point increase tomorrow...
So we can be like the rest of the planet.
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#2467 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,046
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#2468 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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Minister O’Neill has gone a bit quiet on the report about revamping immigration policy, that was due late February. This is relevant in the sense that indisputably some aspects of migration category were driving up property prices in capital cities.
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#2469 | |||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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Quote:
https://www.news.com.au/entertainmen...6b68ea8ac9?amp
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#2470 | ||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,540
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#2471 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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$60k profit in 2 years is not to be scoffed at.
Although, with the $500k outlay, could have leveraged and picked up a multi million dollar home is a desirable area and be collecting more than 60k today I reckon.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2472 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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https://7news.com.au/business/financ...onth-c-9960390
Australian mortgage holders have been hit with fresh financial pain following the Reserve Bank of Australia’s tenth consecutive cash rate hike.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2473 | ||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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They really need to start looking at other ways to control spending.
I wonder how much of the actual adult population has a mortgage?
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___________________________ I've been around the world a couple of times or maybe more....... |
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#2474 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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How else do you do it, efficiently?
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#2475 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
Heard a suggestion to increase GST temporarily, that way it will hit actual spenders. Not sure what side effects that would have. On the plus side, the extra money taxed would stay within the public system.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2476 | ||
FF.Com.Au Hardcore
Join Date: Sep 2005
Posts: 1,371
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#2477 | |||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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Quote:
The artificially low interest rates tempted one and all to trade up, because it was 'affordable'. So more people than ever in each age group held debt for longer, right up to and into retirement in some cases.
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. Lamenting lost Australian manufacturing. |
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#2478 | ||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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Unless you're young, poor, or on a fixed income.
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. Lamenting lost Australian manufacturing. |
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#2479 | ||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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And how much over CPI would that be.....?
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. Lamenting lost Australian manufacturing. |
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#2480 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2481 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
Possibly a way to get around the temptation to keep the tax to would be to call it something different, like an "inflationary tax". That way its visible, and as inflation hits its target, that tax gets removed.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2482 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,508
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You must be new here
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UA2 TREND 4WD BI TURBO |
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#2483 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
As for it effecting other mum and dad types out there, of course it will, it will affect all. This will eventually change the entire dynamic of middle and lower class people's spending habits to a point that there will no longer be a middle class but a class of citizens no longer making independent decisions, but solely dependent on the government income and infrastructure to it's fullest extent. I'll be in the corner with my tin foil hat on now.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2484 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,856
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I’m honestly not sure who will triumph in this battle. There’s seemingly still a lot of both “It doesn’t apply to me” and “I’ll have to start watching my expenditure soon” mantras being recited.
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#2485 | |||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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Quote:
https://www.themandarin.com.au/11001...ions-are-huge/ Data looked at age ranges from 1990 to 2015. It found - "For homeowners aged 55 to 64 years, the proportion owing money on mortgages has tripled from 14% to 47%. Among homeowners aged 45 to 54 years, it has doubled from 36 to 77%." It gets worse: "Meanwhile, the average mortgage debt-to-income ratio among those with mortgages has pretty much doubled across every home-owning age group. In the 45-54 age group, the mortgage debt-to-income ratio has blown out from 82% to 169%. For those aged 55-64, it has blown out from 72% to 132%." And this was five or six years ago. Cant imagine it's miraculously changed since then.
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. Lamenting lost Australian manufacturing. |
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#2486 | |||
Oppressive patriarch
![]() Join Date: Aug 2016
Location: Brisbane
Posts: 733
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Quote:
So long as we could borrow to sustain lifestyles, noone gave two hoots about it. And we bought and sold houses to each other, and the govt saw it was good, because it generated big stamp duty revenues.
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. Lamenting lost Australian manufacturing. Last edited by anobserver; 07-03-2023 at 06:43 PM. Reason: Afterthought |
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#2487 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
__________________
"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2488 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Short term winners will be those who are debt free and those with substantial surplus funds in the bank. That is my prediction. I will leave it there.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2489 | ||
Moderator
![]() Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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Instead of the RBA raising interest rates, the government could increase or lower the rate of compulsory superannuation contributions on a month-to-month basis.
So if at the moment the Superannuation Guarantee rate is 10.5%, next month it could be 0.25% higher or 10.75%, and so on. There is no reason why we couldn't use compulsory super contributions to meet short-term macroeconomic stabilisation objectives, as an alternative tool. When economic policy requires tightening, the requirement to contribute to superannuation could be increased. This would mean, consumers would have less to spend in their take-home pay in high inflationary times and would help curb spending. The big advantage though would be that the money taken out would still be yours, and earning interest, which you get back when you retire, versus increased mortgage rates which is just a "financial rent" paid to the big banks you will never see again. The big banks getting richer... Or more for the average Joe in retirement, which might be better? You may say, "Well, not everyone gets compulsory super deducted from their wages, so that won't work"...But by the same token, not everyone has a mortgage either. There is no alternative Inflationary tool (just like increasing interest rates) that fits all or affects everyone equally. The above idea was floated in Australia some decades ago by economists as an alternative to raising official interest rates. |
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#2490 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Statement from RBA. A bit confused with the bolded bit.......are they effectively saying they don't know if these 10 rates increase will have an impact on inflation, so they are just going to keep raising them anyway?
![]() BTW, I think million dollar a year man will be giving a press conference tomorrow to explain the decision. Would be interested to hear what % of inflation is NOT demand driven. https://www.rba.gov.au/media-release.../mr-23-07.html Quote:
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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