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Jam

I agree. That place is loosing any semblance of respectability.

You’d be feeling pretty stoopid if you let those tards manage any of your finances…

Whilst they are one of the only long standing proponents against invasion by foreigners, this position on interest rates is hysteric

Ramjet

Meh, it is not houses that causes the hysterics, it is the funds management side business. Low rates were great for that business.

Freddy

I have always challenged Leith on his dogmatic views on reverse mortgages, depriving retirees of things like healthcare and pension and forcing them to live off the equity in their homes. IMO it is the dumbest idea any economist has come up with. Everything looks good when interest rates are low and asset prices are high, but what happens when interest rates rise. All these “wealthy retirees” in their $2m homes withdrawing half their equity over many year, and then bam, interest rates rise and they lose 40% of the value of their house. That $2m house is now worth $1.2m of which they now have a $1m mortgage at high interest rates. You can see it eventually ends up with many of these “wealthy retirees” ending up homeless.

Anyways, the point being. What I didn’t realise until recently is banks sucking many people over 40yo into effectively having a reverse mortgage, and using superannuation balances as additional collateral. That ends very badly. We are going to have a crisis of many people retiring with no superannuation, still with large mortgages at high rates.

Last edited 13 days ago by Freddy
Azrael

I thought the rates on these were fixed? especially the Govt run one

Freddy

Not possible to offer perpetual fixed rate reverse mortgages. If interest rates went to the moon everyone would withdraw as much as they can and profit off the interest rate differential. The lender would go bust.

Azrael

Thanks for that. Was about to look into one for a relative.

Stewie

If selling into reverse mortgages ultimately ensured house prices came down and became affordable to the next generation I would be all for it.

Trouble is their purpose isn’t to do that. It is to grind down what little inherited wealth remains in Australia’s middle class, so that the land the houses sit on can be rehypothecated into Australia’s financial system – ‘you will own nothing and be happy’.

It is exactly the sort of policy that would be championed by the WEF, and sold to the NPC’s as a way of making houses affordable, and correcting intra and intergenerational inequity.

The reality is it will never make housing more affordable, it will simply be additional supply that will be gobbled up and refurbished to migrants with a clean credit score. The threat of cheaper houses will be forever backfilled by more immigrants, meanwhile legacy Australians are disinherited.

Peachy

If selling into reverse mortgages ultimately ensured house prices came down and became affordable to the next generation I would be all for it.

Trouble is their purpose isn’t to do that. It is to grind down what little inherited wealth remains in Australia’s middle class, so that the land the houses sit on can be rehypothecated into Australia’s financial system – ‘you will own nothing and be happy’.

Stewie is right here. Reverse mortgages by themselves are neither necessarily good nor necessarily bad.

what matters is the circumstances into which they are deployed, the context provided by power structures and vested interest, etc.

in the EZFKA context it’s all but guaranteed to help further choke supply of land, juice bank dividends, underwrite importation of 600,000 foreign “in home carers”, undermine local wages and disinherit kids of families of modest means.

lswchp

I dunno. Mortgage rates have increased substantially over the last 6 months. Anybody coming off low fixed rates is gonna feel a lot of pain, particularly lower income people with huge mortgages, of which there are a lot.

I don’t think it will mean the end of the universe, but it will cause a lot of difficulty and stress for a lot of people.

emusplatt

prd thinks it be bs.

https://www.macrobusiness.com.au/2022/11/immigration-to-double-aussie-house-prices-by-2030/

bcnich is in the comments…not having any of it🤗

Last edited 12 days ago by emusplatt
lswchp

It seems pretty appropriate to have such world class grifters gathered together.

Ramjet

$2,499 to attend. A decent grifting amount to see the world’s best grifters.

Stewie

Juicy’s gunna juice.

Azrael

The full panel of speakers was probably even worse.
Had Benyamin Yahoo, the failed furniture salesman and Palestinian baby killer listed.

BING!

.

Screen Shot 2022-11-08 at 14.09.37.png
BING!

..

Screen Shot 2022-11-20 at 12.41.40.png
BING!

Screen Shot 2022-11-20 at 12.40.07.png
BING!

….

Screen Shot 2022-11-20 at 12.38.50.png
BING!

…..

Screen Shot 2022-11-20 at 10.49.42.png
BING!

……

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Jam
BING!
emusplatt

trudeau is an oleaginous prick

Screenshot 2022-11-21 08.17.44.png
BING!

Hey now…

Screen Shot 2022-04-06 at 14.11.46.png
BING!

‘Trust the science’

Screen Shot 2022-11-20 at 10.38.27.png
BING!

…….

Screen Shot 2022-11-15 at 20.44.51.png
BING!

Yeah!

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Peachy

Poor bloke, didn’t make it to the election.

but at least he took his shot

BA1D7C03-2F90-4425-B849-340B884C0C45.jpeg
lswchp

Google shows someone who looked like a caricature of a politician.

DictatorDavid

“The Nationals candidate found dead in bushland on Sunday afternoon, Shaun Gilchrist, was facing rape and sexual assault charges.”

I don’t think the shot had anything to do with his early exit… Good riddance

Last edited 12 days ago by DictatorDavid
Peachy

don’t think the shot had anything to do with his early exit…

i had meant more like this

https://m.youtube.com/watch?v=7YuAzR2XVAM

Last edited 12 days ago by Peachy
canuckdownunder

This answers a few questions about how to identify as aboriginal. In true EZFKA style there is a bit of ticket clipping along the way.

Anyway, EZFKA politics now has its own Pocahontas:

https://www.abc.net.au/news/2022-11-21/lauren-odwyer-labor-candidate-aboriginal-heritage-claim/101675786

lswchp

I’ve got blue eyes and pale skin with freckles. I also identify as a proud Yorta Yorta woman.

Yorta gibs me lots cash, bruh, in reparation for my suffering while welcoming white people to country.

Gouda

Jacqui Lambie did the same thing, never seemed to suffer any backlash over it.

https://www.abc.net.au/news/2014-09-08/anger-over-jacqui-lambies-aboriginal-claims/5728622

Drago

Ms Morgan said there was more to being part of an Aboriginal nation than “than just getting a piece of paper”.
“Your strength in your power and your passion comes from your identity,” she said.

Tip of a huge iceberg this. Like a reverse of the “stolen generation” who numbered less than 9,000, the Guilt Industry claims it is 10 times that for obvious reasons.

Grifters gonna grift.

Azrael

Being a shit-stirring ratbag pest is a long standing Aussie tradition.
As long as he annoys the right people it’s all good.

Ramjet

Seems every MSM news outlet is fact checking the @ausecomicunit tweet. Here is another fact check:
https://factcheck.afp.com/doc.afp.com.32MP6NB-1

Ramjet

DLS claim to fame is having KRudd threatening to sue his pantyhose off. The EZFKA Twitter has all the MSM, VEC and the WEF fact checking the tweet. Great work Minister Sinister!

Gouda

Absolutely hilarious that so many organisations have spent time investigating and commenting on this to the point that a spokesman from the WEF has to say something.

A fly in your ointment

faken fake. The KRudd still has no faken idea whodafaq is Davo Llewdo-Sheet Or Bleat v.o. or that they allegedly have some sort of history. It was nuttin else but a prank on commentators bc if it was real the apology would’ve been a tail between legs and koksucking position whilst being bent over a chair buttnaked.
Damn, I just visualised that. Cannot unsee it now.

Drago

“Independent” as in my Daddy is rich and that bitter climate grifter Simon 2 Dads is picking up the tab…

The Teals have really worked a fine art out of Conning the Prue and True types with your Prom Queen candidate backed by some token Lezzo types. Scoot back to the farm at Daylesford when MLC doesn’t have bloody APS sport on, ey?

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lswchp

What about The Thing in the middle? 😬

Stewie

Isnt that your bf? Dont play coy now

Azrael

Lol, the human on the right of pic looks female. What’s the go with the other two?

Drago

https://m.youtube.com/watch?v=5fLDstOegYE

What a fuckin spastic that ugly pig is…

A fly in your ointment

I do not remember, can you elaborate, please?

Gouda

Just read about this… he’s not showing any remorse or contrition, so I don’t think he’ll have much luck coming back to medicine.

comment image

lswchp

The Bank Frying Man on TV, after taking too much speed, or not enough.

https://twitter.com/wallstreetsilv/status/1592638816866930688

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