Effects of Interest Hike

A mamasan in Drummoyne told me she felt the immediate effect of business downturn after the interest hike to 4.8%.

Last Friday I went to an established shop in Burwood and was shown a lineup of 6 girls coming of the room apparently all waiting for a customer. They must be quiet.

I visited another small shop of 3 girls in Burwood. One girl was busy with two other girls sitting and waiting aound. Again Mamasan was complaining about slowness in business.

Read about gloomy economic reports for the next 2 or 3 years. It is not encouraging. We may be heading for a recession.

Personally I foresee a decrease of punting to face the tough and belt-tightening days ahead.

Next election is two years away to turf out the financially irresponsible and free spending Labour Party.

We would typically blame the government for mismanaging the spending in public sector.

I have personally witnessed how corrupt the NDIS is. It's just crazy.

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Originally Posted by maguro

A mamasan in Drummoyne told me she felt the immediate effect of business downturn after the interest hike to 4.8%.

Last Friday I went to an established shop in Burwood and was shown a lineup of 6 girls coming of the room apparently all waiting for a customer. They must be quiet.

I visited another small shop of 3 girls in Burwood. One girl was busy with two other girls sitting and waiting aound. Again Mamasan was complaining about slowness in business.

Read about gloomy economic reports for the next 2 or 3 years. It is not encouraging. We may be heading for a recession.

Personally I foresee a decrease of punting to face the tough and belt-tightening days ahead.

Next election is two years away to turf out the financially irresponsible and free spending Labour Party.

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Yeah sure, let's get in these corrupt clowns from ON who care so much about every day people. What could go wrong.

I think we got at least one more rate rise followed by mass unemployment with multiple businesses collapsing

I can’t see the Libs’ and ON’s proposed mass cuts to immigration helping the punting scene. Won’t it just result in less girls coming in? And that will just lead to higher rates of the girls that are left.

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Originally Posted by coldtowel

I can’t see the Libs’ and ON’s proposed mass cuts to immigration helping the punting scene. Won’t it just result in less girls coming in? And that will just lead to higher rates of the girls that are left.

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Hanson said that the filo's are safe so there will be a change in demographic. Would be great to see a few more caucasian girls too instead of cookie cutter asians.

....you can blame Albo and the hired goons for the mess Oz is in.

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Originally Posted by Double_Adapter

....you can blame Albo and the hired goons for the mess Oz is in.

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Come on dude, I know you’re smart enough to not be so simplistic.
Everyone knows it’s the double adapters that are the problem. Eroding our values with their hedonism.
Deport them to Saudi Arabia I say!

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Originally Posted by mikeitto

Yeah sure, let's get in these corrupt clowns from ON who care so much about every day people. What could go wrong.

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Every policy and decision has been expressly designed to alienate, monitor/control, and impoverish "everyday people" - the government's response to everything is to spend more (and more, and more) taxpayer money on frivolous shit, while slowly eroding our basic freedoms to make us look more like China. They inflate the Australian dollar shamelessly and keep "everyday people" demoralised, poor, and on a tight leash. It's textbook Marxism, and people are finally waking up - hence the catastrophic drop in approval for these self-enriching tyrants. Everything they touch turns to shit.

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Originally Posted by Stubbies4Lyf

Every policy and decision has been expressly designed to alienate, monitor/control, and impoverish "everyday people" - the government's response to everything is to spend more (and more, and more) taxpayer money on frivolous shit, while slowly eroding our basic freedoms to make us look more like China. They inflate the Australian dollar shamelessly and keep "everyday people" demoralised, poor, and on a tight leash. It's textbook Marxism, and people are finally waking up - hence the catastrophic drop in approval for these self-enriching tyrants. Everything they touch turns to shit.

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You should read Marxism for Dummies or something dude.

There is a paradox and I can't figure out how it works; apparently everyone cries about cost of living crisis, Average salary according to ABS is 78K, poverty line is 100k and still all restaurants in city are busy, people que in front of Molly Tea and you see plenty of luxury cars on the road!

Albo has lived politics his entire life. He is smarter than all the others, bet he will get rid of Chalmers the way Trump is dumping Hegseth, and in 2 years people won't remember these interest rates.

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Originally Posted by Double_Adapter

....you can blame Albo and the hired goons for the mess Oz is in.

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Just say his name and the Goon appears.....

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Originally Posted by maguro

A mamasan in Drummoyne told me she felt the immediate effect of business downturn after the interest hike to 4.8%.

Last Friday I went to an established shop in Burwood and was shown a lineup of 6 girls coming of the room apparently all waiting for a customer. They must be quiet.

I visited another small shop of 3 girls in Burwood. One girl was busy with two other girls sitting and waiting aound. Again Mamasan was complaining about slowness in business.

Read about gloomy economic reports for the next 2 or 3 years. It is not encouraging. We may be heading for a recession.

Personally I foresee a decrease of punting to face the tough and belt-tightening days ahead.

Next election is two years away to turf out the financially irresponsible and free spending Labour Party.

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Do you mean the interest rate hike that wouldnt have been passed through (and still hasnt) by last Friday?

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Originally Posted by Stubbies4Lyf

Every policy and decision has been expressly designed to alienate, monitor/control, and impoverish "everyday people" - the government's response to everything is to spend more (and more, and more) taxpayer money on frivolous shit, while slowly eroding our basic freedoms to make us look more like China. They inflate the Australian dollar shamelessly and keep "everyday people" demoralised, poor, and on a tight leash. It's textbook Marxism, and people are finally waking up - hence the catastrophic drop in approval for these self-enriching tyrants. Everything they touch turns to shit.

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Holy shit. I cant imagine being this confident while typing something so stupid.

One nation is not the answer to anything in this country...unless your name is rhymes with Tina Reinfart

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Originally Posted by lenny888

I think we got at least one more rate rise followed by mass unemployment with multiple businesses collapsing

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6 more 0.25% hikes according to an economist and he had a strong point. At 4.8%, the cash rate is still not high enough to actually counteract inflation. It only feels like it's too high for a small cohort that may have overleveraged themselves. You can't have an economy wide impact simply by making a few mortgage stressed people tighten their budgets. So it needs to go up to more than 6% to affect the entire economy.

EDIT: I also think that Australia is in a uniquely bad situation now because we raised rates too late and cut them too early back in 2021 through to 2025. Remember the "wait and see" approach? We were cheering that move like it was a genius move but now it feels like it's all coming back at us!

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Originally Posted by PeachTea

Just say his name and the Goon appears.....

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And so do you apparently.

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Originally Posted by Stubbies4Lyf

Every policy and decision has been expressly designed to alienate, monitor/control, and impoverish "everyday people" - the government's response to everything is to spend more (and more, and more) taxpayer money on frivolous shit, while slowly eroding our basic freedoms to make us look more like China. They inflate the Australian dollar shamelessly and keep "everyday people" demoralised, poor, and on a tight leash. It's textbook Marxism, and people are finally waking up - hence the catastrophic drop in approval for these self-enriching tyrants. Everything they touch turns to shit.

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What the fuck did you drink?

The interest rate hike will impact on those that have mortgages and businesses with loans. Let's ignore business and say that approximately 1/3 of Australian households have a mortgage, 1/3 are renting and 1/3 are fully paid up. To those that are fully paid up and have cash savings they are getting a bonus everytime the interest rate is hiked as they get more interest.
I live in one of those Eastern suburbs, white places with a lot of restaurants, and each time I walk around at lunch time on a week day (I work remotely) I am amazed at all the people sitting out in the sun having lunch on a Wednesday afternoon. The place is packed.

My point is that the interest rate lever that the RBA has is a very blunt instrument, and it has been interesting to see people talk about other ways to reduce the available cash in the economy, such as temporarily increasing the rate of super, which I thought was at least an interesting idea as it would mean that instead of the banks getting richer (I have bank shares so I am all for that) the money would be yours, albeit, inaccessible until you hit 60 or whatever age the governments move that to. However, as business owner buggered if I want to have to reassess all staff salaries to increase the super and reduce the take home pay, what a massive waste of businesses time when the government service is at its biggest since WWII

Funny how a thread about the amount of punters reducing has turned into a political thread.

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Originally Posted by maguro

A mamasan in Drummoyne told me she felt the immediate effect of business downturn after the interest hike to 4.8%.

Last Friday I went to an established shop in Burwood and was shown a lineup of 6 girls coming of the room apparently all waiting for a customer. They must be quiet.

I visited another small shop of 3 girls in Burwood. One girl was busy with two other girls sitting and waiting aound. Again Mamasan was complaining about slowness in business.

Read about gloomy economic reports for the next 2 or 3 years. It is not encouraging. We may be heading for a recession.

Personally I foresee a decrease of punting to face the tough and belt-tightening days ahead.

Next election is two years away to turf out the financially irresponsible and free spending Labour Party.

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Aren't we back at Business Basics 101 ?
Supply & Demand ??

Earlier threads this year discussed the rising costs of punting.
Perhaps the shops (business) should review this and maybe backtrack on recent price hikes to entice the punters ......

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Originally Posted by KakeyA

The interest rate hike will impact on those that have mortgages and businesses with loans. Let's ignore business and say that approximately 1/3 of Australian households have a mortgage, 1/3 are renting and 1/3 are fully paid up. To those that are fully paid up and have cash savings they are getting a bonus everytime the interest rate is hiked as they get more interest.
I live in one of those Eastern suburbs, white places with a lot of restaurants, and each time I walk around at lunch time on a week day (I work remotely) I am amazed at all the people sitting out in the sun having lunch on a Wednesday afternoon. The place is packed.

My point is that the interest rate lever that the RBA has is a very blunt instrument, and it has been interesting to see people talk about other ways to reduce the available cash in the economy, such as temporarily increasing the rate of super, which I thought was at least an interesting idea as it would mean that instead of the banks getting richer (I have bank shares so I am all for that) the money would be yours, albeit, inaccessible until you hit 60 or whatever age the governments move that to. However, as business owner buggered if I want to have to reassess all staff salaries to increase the super and reduce the take home pay, what a massive waste of businesses time when the government service is at its biggest since WWII

Funny how a thread about the amount of punters reducing has turned into a political thread.

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Two worlds out there the Eastern suburb crowd that have cash and the South Western population who are struggling.
Everytime the rates go up my parents are celebrating more cash in the term deposit.

My mortgage has gone up 1300 a month since December 2024 have cut back on the punts and other shit significantly.