https://www.news.com.au/finance/economy/interest-rates/fabul…
News reports say the very next day phillip Lowe lectured Aussies to work more and spend less.
The RBA Spent $25000 on an Elaborate Fat Cat Lunch, Just after Punishing Hardworking Australians
WreckTangle on 09/06/2023 - 07:36
Last edited 09/06/2023 - 07:39
Last edited 09/06/2023 - 07:39
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$90 bucks p/p and they served grilled baramundi?? That Fraser Park place made a killing that night!
Build for infrastructure (roads, school, hospital, shopping centres, public transport) expanding outwards, so that most of us don't have to work and live in Melbourne and Sydney. There is plenty of "land" in Australia.
Develop the larger towns into citites.Australia has the most overpaid tradies in the world, and are relatively under-developed compared to continental USA which is of a similar land mass.
Import cheaper tradies from overseas to develop regional Australia, that will fix our housing and regional crisis. We are already importing cheaper fruit pickers and even doctors from the third world, why can't we do the same for tradies? Given the shoddy build quality of new builds anyway the overseas tradies might even be higher quality!
I agree !
Everyone moaning about the current rates has clearly never done any research into the historical rates. Sub 5 percent is really quite moderate, everyone has just got used to the recent low rates that were clearly not going to last forever.
Exactly. Everyone has become soft over the past 10 years as rates have continually crept downwards year after year, cementing in people's minds that that's the way they're supposed to go. They got used to cheap money and their properties increasing in value each year making them overnight millionaires.
The decreasing interest rates over the past 10 years have hidden huge structural issues we have with our economy IMO. One of those being productivity, and that will likely stay low going forward because why would young people work hard if they can't achieve their dreams of owning one house to live in?
Bunch of addicts whining the bar has stopped the cheap drinks.
That's actually pretty decent, would have expected more for such an evetn/attendees…
This was booked months in advance, there was no option to cancel. Its not like they booked it the next day…
And these are rookie numbers for corporate events, your normal consulting/finance project dinners average around 200pp alone..
Do what I say, not what I do.
Meh… $25K is small fry. Get upset about something bigger like how the pandemic began, how big business profited from it including big pharma (those shots provided by the government are not free), how our local and federal governments mishandled it. How millions and billions of tax payers dollars are wasted and disappear due to corrupt systems on an annual basis.
Yep big US/UK pharmas benefited big from selling covid vaccines to the tunes of billions….. And don't get me started on how much the US/UK is profiting from us with the aukus submarines deal…. They still treat us as a colony, still stealing riches from their colony Australia.
I'll be interested to know where Lowe heads to after leaving his RBA job, which has profited many bankers.
There is a reason why major parties have stonewalled the creation of a federal Corruption Commission, because its common knowledge that ex-pollies and senior public servants accept cushy advisory roles at corporations they benefited during their public service.
*Punishing Australians — as if Aussies haven't been punishing themselves enough by over-borrowing, beyond their means. When will media be unbiased and unaffected by their vested interests? It's not right when even media cannot say the truth.
with RBA increasing the interest rates, they only seem to be helping the banks make more profits, banks run their interest rates off this benchmark which is also defined on the ATO website https://www.ato.gov.au/Rates/Division-7A---benchmark-interes…
in turn it flows on the economy where we find loan payers paying more on repayments which means it gets passed down to the renter, or the homeowner who finds less cash at the end of the month to spend on necessities and leisure. you'll find now, leisure is taking a hit, most hair and nail salons will soon shut their doors and others will follow with restaurants, RBA needs to overturn their decision and reduce interest rates and find other ways to control the economy because what they're doing isnt working and is only harming the lower and middle class.
When you lead by example, people will voluntarily respect that.
As seems people that try to lead or preach from a proverbial ivory tower rarely do unless they're in-the-trenches.
You should checkout how much the politicians you voted for are spending. It will make $25k for 140 VIP guests looks embarrassingly cheap.
We are barking at the wrong tree. We should be angry that goverment does not do enough because of the Nimby. he has done the right thing. I dont enjoy it but he has to do what gov cant do.