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**JohnVK** · 11-04-2009, 11:45 PM

The government is still pumping the economy full of stimulus spending and consequently once again just 4 weeks later our Resrve bank has raised interest rates by another 0.25% to 3.5%.

3.5% is still at "emergency" setting - ie, artificially low. The fact that interest rates are rising is because the Oz economy appears to have escaped the recession that afflicted the rest of the developed world.

So the governments spending which does not benefit me in any way has already begun chewing up my weekly income in a big way with these increases in interest rates, with more rises to come rapidly unless the government changes its policies.

The spending has benefited you big time - Australia didn't go into recession. If interest rates rise to normal consider it a lucky escape.

11-04-2009, 11:45 PM	#24
JohnVK Join Date Oct 2005 Posts 465 Senior Member	The government is still pumping the economy full of stimulus spending and consequently once again just 4 weeks later our Resrve bank has raised interest rates by another 0.25% to 3.5%. 3.5% is still at "emergency" setting - ie, artificially low. The fact that interest rates are rising is because the Oz economy appears to have escaped the recession that afflicted the rest of the developed world. So the governments spending which does not benefit me in any way has already begun chewing up my weekly income in a big way with these increases in interest rates, with more rises to come rapidly unless the government changes its policies. The spending has benefited you big time - Australia didn't go into recession. If interest rates rise to normal consider it a lucky escape.
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