Comments on: Is the Reserve Bank crazy for raising Interest Rates ? http://jamiemcintyre.com/reserve-bank-crazy-for-raising-interest-rates/ Jamie McIntyre Blog and updates from 21st Century Education providing a modern day education for life Sun, 20 May 2012 16:34:05 +0000 hourly 1 By: Codie http://jamiemcintyre.com/reserve-bank-crazy-for-raising-interest-rates/comment-page-1/#comment-207 Codie Tue, 09 Feb 2010 21:50:27 +0000 http://jamiemcintyre.com/?p=535#comment-207 All your points are valid, but, thinking outside of money (share market, property market), could the reserve bank be politically obliged to make stupid decisions like the one you described. I mean, the Australian reserve bank is independent from government, but arnt they more or less, controlled by government? I could be wrong, but you have to think, the people that work in the reserve bank are university graduates whos life revolves around their work, really smart people work there, what I am saying is, they must have known the consequences you described above if they would raise interest rates, so, the only valid reason why they have done what they have done is possibly by other influences, say government. I dont wont to sound like a conspiracy nut here, but government officials are elected by the people, thus they need to produce results for the people, other wise they get the boot, thus its possible that they influence the reserve bank to do things they wont for their own agenda. All your points are valid, but, thinking outside of money (share market, property market), could the reserve bank be politically obliged to make stupid decisions like the one you described. I mean, the Australian reserve bank is independent from government, but arnt they more or less, controlled by government?

I could be wrong, but you have to think, the people that work in the reserve bank are university graduates whos life revolves around their work, really smart people work there, what I am saying is, they must have known the consequences you described above if they would raise interest rates, so, the only valid reason why they have done what they have done is possibly by other influences, say government.

I dont wont to sound like a conspiracy nut here, but government officials are elected by the people, thus they need to produce results for the people, other wise they get the boot, thus its possible that they influence the reserve bank to do things they wont for their own agenda.

]]> By: Allan Murphy http://jamiemcintyre.com/reserve-bank-crazy-for-raising-interest-rates/comment-page-1/#comment-186 Allan Murphy Mon, 02 Nov 2009 04:23:09 +0000 http://jamiemcintyre.com/?p=535#comment-186 Banks have always controlled the way people live. When I first went for a home loan the banks had means test. Your saving were calculated over 12 month period, and had to meet a percentage rate over this time. I had saved 30% in a year, only to be told by the bank I had saved too much money in one year. And was refused a loan. Who makes money when the rates increase? banks of course, they need the cash. Poor banks. Banks have always controlled the way people live. When I first went for a home loan the banks had means test. Your saving were calculated
over 12 month period, and had to meet a percentage rate over this time. I had saved 30%
in a year, only to be told by the bank I had saved too much money in one year. And was refused
a loan. Who makes money when the rates increase?
banks of course, they need the cash. Poor banks.

]]> By: Ilse Aschenbrenner http://jamiemcintyre.com/reserve-bank-crazy-for-raising-interest-rates/comment-page-1/#comment-173 Ilse Aschenbrenner Sat, 17 Oct 2009 11:11:51 +0000 http://jamiemcintyre.com/?p=535#comment-173 Crazy? Depends if the Reserve Bank is a cartel or not. If it is, then not crazy at all in their eyes I suppose. What is crazy is that people keep putting their little savings in the big banks for a lousy interest rate and then borrow people's money (plus thin air) out again at a higher interest rate. Why don't they form a co-op and pay themselves the higher interest rates when they come to borrow. Solicitor loans are allowed, there must be a way. Crazy? Depends if the Reserve Bank is a cartel or not. If it is, then not crazy at all in their eyes I suppose. What is crazy is that people keep putting their little savings in the big banks for a lousy interest rate and then borrow people’s money (plus thin air) out again at a higher interest rate. Why don’t they form a co-op and pay themselves the higher interest rates when they come to borrow. Solicitor loans are allowed, there must be a way.

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