Comment on The Australia interest rate rise is the wrong medicine and an even worse alibi
Salvo@aussie.zone 3 hours ago
“You plebeians are borrowing too much money”. “We are not getting paid enough and need to borrow money to survive”. “Our solution is to make your repayments higher so you need to borrow even more money to survive!” “…” “Why are you borrowing even more money to survive!?”
Cherry@piefed.social 3 hours ago
Those who took on too much debt shouldn’t hold the rest of the nation to ransoms.
Aus is an affluent country used to having a high disposable income. They will likely all keep spending.
They need to start taking the medicine. The ironic lucky country is being realised here
bignose@aussie.zone 1 hour ago
There is also significant wealth inequality in Australia. Many, many people do not have a high disposable income. Should they “take the medicine” of unemployment and price hikes?
Cherry@piefed.social 32 minutes ago
I am not saying it will improve, i think its inevitable a lot of people will get hurt, those without likely. However a lack of common awareness is a big issue. Australia is affluent. Do people spend money easy…take a look at westfield most weekends, and tell me i am wrong. But she’ll be alright is used like an excuse to not deal with clear issues.
I know that there is disparity, been calling if for a long time but most people have been ok with this because their house price went up. The can has been kicked and kicked but debt has to be paid eventually. I am not rich, I cannot afford a home in Aus, but I am also not ignorant to the conditions of those who struggle.
ryannathans@aussie.zone 2 hours ago
I’m too high for this, which direction are you supporting?