Sky News Australia
The Australian’s Robert Gottliebsen says Australia has a unique economic problem in that the Australian government “went on a lending spree to mortgage holders”.
“Absolutely stupidly, we went on a lending spree to mortgage holders in 2020 and 2021,” he told Sky News host Chris Smith.
“About 30 per cent of our total mortgage book was issued in those two years at very low interest rates.
“Those people are mainly on flexible rates and even the ones on fixed rates, they’re short-term fixed rates and they’re going to cop it in the neck very very hard.”
Huge protests today! Big thank you to the tens of thousands in VIC who marched. #abolishthemonarchy #alwayswasalwayswillbe #changethedate #changetheflag
You can't really blame Jerome Powell for trying to restore some discipline against extreme debt creation by the US Democrat-controlled congress. In a way, Powell is Trump's revenge.
Powell is clipping while the Democrats are printing. It is absolutely unprecedented and insane.
Once again, the US is ALREADY in recession! 🙄
Sky masters of hindsight.
Media only start speaking about this now. Australian property bubble has been raging for 20 yrs. Now they see the risk. Too late now. Australia it’s screwed
Rents are fucked in Sydney.
Surely currency debasement is a major contributor to the inflation problem.
we did the same here in England.
Australia doesn’t have to follow Fed’s suit! Just drops the interest rate to zero and lets Aussie dollar free fall!
Japans Currency is in big trouble, the Yen has had to be propped up by their Government…first time in 25 years…Japans economy in worse shape than Ethiopia
It's not a problem that is unique to Oz.
I don't know what you're talking about, but we are on our way to what seems to be a depression
We have got to stop people spending?
What a load of BS.
Basic cost of living is consuming the entire wage.
My wage only covers the mortgage, the car payment and the insurance, nothing else.
There is no spending to Cut.
USA is ALREADY in a RECESSION
And yet again the bankers dont suffer whilst the world cries.
An I for an I. A tooth for a tooth.
You 🔥burn my flag.
I 🔥burn your f…..en flag.
Non indigenous Australians do not have to cop the disrespect displayed by indigenous protesters on mourning day for Queen Elizabeth the 2nd.
Indigenous protesters should be very careful from hereon.
Non indigenous Australians are very capable of hitting back on the aboriginal indigenous flag.
Disrespect invokes disrespect.
🇦🇺🦘
Has to be done to transition to a lower population as we are a blight on the planet
The Jones’s were fake.oh dear what a mess.
yay !! trickle down fed money
Game Over
30 % loan book during 20 & 21 😮😮 Game Set Match 🇦🇺
Do we still trust the experts hahahahah debt free all cash . Im going to buy a fleet of seadoos that you lot can no longer afford I'll sell them back later for double to your greedy arses when the time comes chad loves seadoo
You people doing it hard, you made your bed now lie in it,, you are so stupid eh,,
The Problem is Australian want everything Now and they want it NEW they will NOT stop Australians Spending, Australian has become GREEDY about everything
If you were stupid enough to borrow money during the lockdown !!! especially on a house!! you really got poor advise!!! and it is not the banks!! its the fool taking the loan!!
If you did not think interest rates would go up ……….well !
If in deed 30% of mortgages were lent in the last 2 years, no reason to doubt that statistic, then a significant number of Australians are going to learn a VERY hard lesson. Not a speck of sympathy for property speculators. But do feel for naive genuine first home buyers. They have basically been thrown under the bus by government and its institutions i.e. the Reserve Bank.
us boomers have seen this all before, but what do we know?. reports are that the rba is bust, confirm or deny
real estate agents and mortgage lenders are powered by greed, pure and simple
Its going to take at least 2 years for US inflation to come any down. People are earning huge. Rates will go above 10%. Australia will be helpless here in this rate rises. Australia has no control over rate rises, US dictates these things. Poor US dependent countries.
To the people that tune-In to these HORRIBLE HUMANS. Have a good look at then and you will notice that they are very unhappy. Im thinking because they love to HATE. So while they are Happy to HATE they want you to too. But I ask is this really you and if you have fallen in to their trap. Is it making you feel that good? Surly you can see that these HORRIBLE HUMANS aren’t worth your time? LOVE from ME to YOU. 🐸
Sorry guys, gonna drop another $1m lending. Please don't spend to make up for me
I could see this comming for 12 months
Much of the loans from the last 2 years were for refinancing, myself included to get a cheaper rate.
RBA have announced they are broke, its only paper! Can print plenty more!