Politics Super Thread - keep it all in here

[Papacito]

Morrison campaigns pretty well and knows how to play the media, but people are really hurting financially.

As much as he tries to spin it, I don't think swing voters who are struggling to put food on their table and haven't seen their wage rise for a decade are going to buy it.

The interest rate rise is the nail in the coffin.

I'm predicting a coalition bloodbath.

 

[jadtiger]

Interest rates aren't about politics (according to Scumo).

They are especially when it looks good for his government just like inflation rates.Unfortunately at the moment both are going up unlike his credibility and popularity

 

[Jedi_Tiger]

Morrison campaigns pretty well and knows how to play the media, but people are really hurting financially.

As much as he tries to spin it, I don't think swing voters who are struggling to put food on their table and haven't seen their wage rise for a decade are going to buy it.

The interest rate rise is the nail in the coffin.

I'm predicting a coalition bloodbath.

Predicting hung parliament
we have gone through 2 years of covid to be fair so not exactly normal circumstances

 

[Mac]

Predicting hung parliament
we have gone through 2 years of covid to be fair so not exactly normal circumstances

As far as economic management goes, from the time the coalition came to power in 2013 until just PRIOR to any sign of the pandemic our debt almost doubled.

 

[Papacito]

Predicting hung parliament
we have gone through 2 years of covid to be fair so not exactly normal circumstances

It will be interesting to see where the swing votes go.

 

[Tim Sheens]

As far as economic management goes, from the time the coalition came to power in 2013 until just PRIOR to any sign of the pandemic our debt almost doubled.

It doubled as we went backwards on almost every OECD measure.

It has taken until now, nearly a decade to get to the point that the community, virtually as a whole, is no longer fooled by bluster and now finally seeing the long demonstrable reality of their overall failure.

Covid should have been a great advantage to the incumbents and the war in Ukraine another boon, but they have failed on both of their preferred election strategy policies of economy and security. Uncertain times are very much in their favour.

 

[Papacito]

As far as economic management goes, from the time the coalition came to power in 2013 until just PRIOR to any sign of the pandemic our debt almost doubled.

Plus, the lowest levels of wage growth in the history of the country.

 

[Papacito]

It doubled as we went backwards on almost every OECD measure.

It has taken until now, nearly a decade to get to the point that the community, virtually as a whole, is no longer fooled by bluster and now finally seeing the long demonstrable reality of their overall failure.

Covid should have been a great advantage to the incumbents and the war in Ukraine another boon, but they have failed on both of their preferred election strategy policies of economy and security. Uncertain times are very much in their favour.

It's impossible for many to believe the hype when they're struggling to pay for petrol or groceries.

 

[earl]

As far as economic management goes, from the time the coalition came to power in 2013 until just PRIOR to any sign of the pandemic our debt almost doubled.

They have been really poor economic managers. Interest rates though have to rise. The pandemic did also happen.

 

[Tim Sheens]

It's impossible for many to believe the hype when they're struggling to pay for petrol or groceries.

Yeah, sure is. I wrote recently of my personal inflation rate being above 10% and likely closer to 15%.

I don't have a mortgage and pity those on lower incomes that will soon succumb to the increase in repayments on top of the general rapidly rising cost of basic goods and services.

 

[pawsandclaws1]

When is Scumo unleashing his big guns in Michaelia, Tudge and Stuart Robert? No doubt he is saving them for the final 2 weeks of campaigning.

 

[coivtny]

Wow, a 0.25% rise in interest rates lifting the cash rate to an astronomically usurous 0.35%. It's the end of Morrison, even worse, it's the end of civilisation as we know it.

 

[jadtiger]

Wow, a 0.25% rise in interest rates lifting the cash rate to an astronomically usurous 0.35%. It's the end of Morrison, even worse, it's the end of civilisation as we know it.

Ridicule it as much as you like but it is yet another indicator of a terrible government

 

[earl]

Wow, a 0.25% rise in interest rates lifting the cash rate to an astronomically usurous 0.35%. It's the end of Morrison, even worse, it's the end of civilisation as we know it.

Just to give a clearer impression for the average borrower. I checked the CBA standard rate and it's 2.20%.

There are articles in MSM about people going into mortgage stress.

What about if rates go to 5% ? That would be lowish.

People live so far beyond their means.

 

[Magpie_Magic]

Wow, a 0.25% rise in interest rates lifting the cash rate to an astronomically usurous 0.35%. It's the end of Morrison, even worse, it's the end of civilisation as we know it.

Too much free money for too long.

Made some people rich by fluke.

Others will have to pay it off.

But again, its an imported model not a local design.

The real issue is the U.S. financial system since the 80s. Thing is though they cleared their housing excesses in 2008 while we allowed ours to more than double since then. A massive misallocation of capital in unproductive assets.

 

[earl]

Ridicule it as much as you like but it is yet another indicator of a terrible government

I don't agree that the it's an indicator of a terrible government. There are two issues. One is rates have been so low for so long. It's abnormal. The second is the supply constraints across the world due to the pandemic.

The debt is all on this government and it's a concern.

 

[coivtny]

Ridicule it as much as you like but it is yet another indicator of a terrible government

Sorry, mate, I know you're anti-Morrison but that is a ridiculous comment. This increase woukld have happened no matter who was in government.

 

[Magpie_Magic]

Just to give a clearer impression for the average borrower. I checked the CBA standard rate and it's 2.20%.

There are articles in MSM about people going into mortgage stress.

What about if rates go to 5% ? That would be lowish.

True.
5% to 7% is a historical average over centuries.

Housing is just out of kilter.

People live so far beyond their means.

True.

But people have been convinced over decades that houses only go up so if you need one buy now before it gets pricier. It's not really a free market.

So people get sucked in.

 

[coivtny]

Just to give a clearer impression for the average borrower. I checked the CBA standard rate and it's 2.20%.

There are articles in MSM about people going into mortgage stress.

What about if rates go to 5% ? That would be lowish.

People live so far beyond their means.

Too right. I was repaying a mortgage when interest rates rose to 18% not that I'd wish that on anyone. Interest rates will rise again and again. Hopefully borrowers will be able to cope. Some, who've sadly over-extended, probably won't survive the increases.

 

[Tim Sheens]

When is Scumo unleashing his big guns in Michaelia, Tudge and Stuart Robert? No doubt he is saving them for the final 2 weeks of campaigning.

Tudge is like poison to the thinking women's vote and become the invisible man as a result for months now, so very much doubt we will be seeing him at all. I have though seen Robert somewhere answering questions this past week and Cash in the background nodding when he was in WA.

Great to see so much Liberal campaign money being poured into Kooyong in an attempt to save Frydenberg, but hopefully in vain and at the expense of others. Looking as though Tim Wilson will likely be turfed from nearby Goldstein as one of those and smiling like Daniel Ricciardo/Cheshire cat as I just wrote of his probable removal.