Australian Politics Forum - Libs

macman Gold Member Offline Australian Politics Posts: 2435 australia Gender:	Re: Libs _ Economic Blunderers. Reply #15 - Mar 7^th, 2019 at 7:20am Lee hasn't got a point. He waffles bull**it until you just give up.
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philperth2010

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Re: Libs _ Economic Blunderers.
Reply #16 - Mar 7^th, 2019 at 7:28am

Vic wrote on Mar 6^th, 2019 at 5:55pm:

Captain Nemo wrote on Mar 6^th, 2019 at 4:30pm:

I'll take interest rates at 4.5% over 17% any day! Cool

The interest rates for lenders at 17% only lasted a few months. It was also balanced out by very high savings interest rates as well. If it wasn't for Keating and Hawkes magnificent handling of the economy and the structural changes they made, you would still be sitting on Howard's mandated 13.5% home loan rates and wearing a suit to interviews with Bank Manager's

I lived through those interest rates, and it was tough for a while but I ended up far better off in the long run and able to gradually move up in housing. Go and have a look at Howards performance as Treasure during the Fraser Government and see why change was needed

Here you go Vic....

Quote:

The highest interest rates from 1982 were: Fraser government (when Mr Howard was treasurer), 21.4 per cent in April 1982; Hawke government, 19 per cent in December 1985 and Keating government, 7.9 per cent in December 1994.

https://www.smh.com.au/opinion/the-inconvenient-truth-about-interest-rates-and-j...

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Bam

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Re: Libs _ Economic Blunderers.
Reply #17 - Mar 7^th, 2019 at 10:02am

Vic wrote on Mar 6^th, 2019 at 5:55pm:

Captain Nemo wrote on Mar 6^th, 2019 at 4:30pm:

I'll take interest rates at 4.5% over 17% any day! Cool

The interest rates for lenders at 17% only lasted a few months. It was also balanced out by very high savings interest rates as well. If it wasn't for Keating and Hawkes magnificent handling of the economy and the structural changes they made, you would still be sitting on Howard's mandated 13.5% home loan rates and wearing a suit to interviews with Bank Manager's

I lived through those interest rates, and it was tough for a while but I ended up far better off in the long run and able to gradually move up in housing. Go and have a look at Howards performance as Treasure during the Fraser Government and see why change was needed

Inflation was much higher at the time, about 10%. Interest rates were high to keep up, both for depositors and borrowers.

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