interest rates up - fishing down

[PinHead]

I'm just thinking that this could be gloomier than we think. Wheat scandal, repatriation scandal, Visa scandal, low popularity rating.

It seems this gov't is taking a hammering atm so to invite further punishment from the electorate by allowing rates to rise must indicate the (urgent) neccessity for it? Thereby this indicates that they think the future is gloomier than is currently being painted, do they not?

Doesn't look to good

And not only has petrol prices been hit by the Iranian affair we now have the nationalisation of Bolivian oil and trouble in Nigeria!

Always look on the bright side of life.....de dum..de dum de dum de dum [smiley=guitarist.gif]

Kev..the present govt can do anything and get away with it...the oppositon does not have a great deal to offer the electorate...they cannot even be united within their own party (beasly & Crean) so how could they lead the nation. Election due next year so the ALP has a mammoth amount of work to do to recover a lot of credibility in the electorate prior to then.

[choppa]

pinhead is that why we are the worlds largest supplier of plutonium????????

this export is greater in value than anything that we import,, but we aren't returned any favours in pricing,,

i agree on commodities,, and to some extent i agree in china,,, but it makes me wonder why indonesia is a nuclear force within the world, and has been for some time, when they have bugger all to defend, but a hell of a lot to give,,,especially in foreign debt,,,,,or has every country know wiped that slate clean as well,,,,,why not we did almost,,,,,,,

i have an ""original receipt on my study wall that dates back to 1926,, from the ""UNION MOTOR GARAGE PTY LTD in Shepparton Vic,,,(this company is still trading today), it lists to name a few items;;

6 galls of petrol @ 2/4,,,,,,,,,,,,,,,,,,,,,,,total 14.0
1 pt oil @ 1.0,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,1.0
1 bottle of distilled water @ 1.0,,,,,,,,,,,,,,,,,,,,1.0

the whole bill for the month came to 6 pounds 19 pence & 7,,,, it even has a stamp duty stamp attached,,

ahhhhh,,, petrol by the gallon,,,,,,,, i can honestly say that i still recall my old man complaing about petrol prices when i was chop jrs size,,, mum use to basically bake/cook most of our commodities,,,, and what she didnt, came from the dairy,,,,,, but we still complained,,

[bidkev]

the rise in interest rates is to just temper the economy a little..put the brakes on ever so slightly.

Most people have mentioned the price of oil...oil is just one component of the commodities market....oil price has very little to do with Iraq, Bolivia or anywhere else...it is, as per all markets, driven by supply and demand. <snip>.

Yes, that's absolutely true but when the market sees a likely threat to the supply, demand surges even more. The traders are buying like there's no tomorrow 'cause they fear Iran will shut off supply, Nigerian rebels are sabotaging oil fields, and the Bolivian companies will cease trading when the Bolivian Gov't wants 83% of the take. The likelihood is that the profits are so huge anyway that the companies will continue to operate there as 17% is better than nothing.

kev

When you live in the past, it costs you the present.

[tuppence]

i did not know that all we fishers were so up to date on the worlds economy, maybe someone can do a rough estimate what we mad fishermen pay per kilo of fish i reckond $100 a kilo

[PinHead]

Hi choppa..my first car was a HR Holden with a 186Cu motor...I can remember driving from Brisbane to the Gold Coast...driving round down there a bit looking for a wave to surf then driving back home..petrol cost - $4...but my weekly wage was also only $180 per week.

tuppence..I get a bit of an insight into the commodities market by the constant price increse on copper pipe that I use constantly...price rise this week - 7.6%..price rise last November - 6%..last June - 6.5%..it constantly goes up...way above the cpi level.

[baldyhead]

If the interest rates rise it should be good for the investors should'nt it ?
As a self funded retiree who in the bad old days paid up to 18.5% housing loan ( I still have the letters from my credit union loans dept. advising me of the new interest rate rises that happened all too frequently.) interest for a $80k loan I can only say STOP WHINGING....you've NEVER had it soo good !

[karana]

I enjoyed choppa's receipt and the total for the month in expenses.

At that time my grandfather's wage was three pounds ten shillings a week or just over 14 pounds a month.

With petrol at 2/4 a gallon he could have bought about 120 gallons of petrol or say 500 litres. Work it out today on your monthly salary.

Yep folks have never had it so good. As another one of the economists on the board i enjoy reading the comments people make.

Oh and about that 18.5%, I knew I got a good deal at 17% lol.

[Horrie]

If the interest rates rise it should be good for the investors should'nt it ?
As a self funded retiree who in the bad old days paid up to 18.5% housing loan ( I still have the letters from my credit union loans dept. advising me of the new interest rate rises that happened all too frequently.) interest for a $80k loan I can only say STOP WHINGING....you've NEVER had it soo good !

I'm with you Baldy Head (I even have the same hairstyle). On a $150K loan it is around $1 per day extra. Big deal. If people are sailing so close to the wind that a buck a day makes such a big difference, I think they have some serious money management issues. Nobody likes to pay more than they have to, but let's keep things in perspective. I'm sure us Ausfishers doen't have this problem, but some folk need to take stock and look at their booze, smokes and junk food expenditure. Anyway, it's not up to me to tell people how to live their lives.......and I'm happy with my frugal lot.
Horrie (Self Funded Old Fart)

[bo_sawyer]

If the interest rates rise it should be good for the investors should'nt it ?

Depends what your investing in, but generally it isn't good.

[PinHead]

choppa..I was not aware we had a uranium enrichment plant in aus.