Is Scott Morrison asleep at the Wheel?
The chart below shows that with a stroke of the pen APRA have excluded the average voter from accumulating assets to become self-funded retirees.
Is Scott Morrison aware these credit restrictions are creating a whole generation of poverty? This will be a permanent drain on the budget. Far worse than the 2050 report predicts.
Under the first scenario, the investor holds the property for just a few dollars a day when the $4K interest bill is offset with the right tenant, property, and funding.
Many, many would be wealthy and can use this method to retire wealthy. At the same time, they are creating a huge tax flows to local, state and Federal coffers.
Why is Scott Morrison now preventing this?
Under the second scenario, only the very few highly paid can look to self-funded retirement. It is only the top 2% of wage earners that can satisfy this ridiculously high invented rate barrier. This is now set at 500% higher than the cash rate.
Why aren’t the media questioning the logic behind this credit squeeze? This is the same media that didn’t question the RBA’s foolish rate increases that saw unemployment sore from 4.3% to 6%. Foolish increases that saw a million people lose their jobs to rely on unemployment benefits. Your Club picketed every RBA office around Australia for 6 months. Mainstream TV picked up our protest but the financial media did not!
RBA eventually saw that they had wrecked the economy and did the biggest reversal of rates in Australia’s history. But the damage was done and we still have near 6% unemployment thanks to RBA incompetence. Now we have APRA doing their demolition of the economy, where are the media?
- Rudd introduced a banking monopoly – where are the media?
- Banking inquiry precludes this discussion – where are the media?
- Monopoly is foisting a 50% jump in repayments using P & I by surprise and without logic – where is the media?
- This breaches the banking code – where is the media?
- This has drain disposal income and savings to record lows – where is the media?
- Morrison’s bank tax was not to be passed onto consumers – where is the media?
- Half of the monopoly profits go to overseas investors – where is the media?
- Non-majors have less than 6% of the market share. Prior to Rudd? 16% – where is the media?
If you are hurt by the bank’s actions simply send a short bullet point of your hardship and send it to me via your mentor. I believe I can help you.