August 9, 2006

Non-Law Stuff

Posted in politics at 6:18 am by thelawthoughts

I’ll get my political gripes out of the way for today in one hit. So:

1. We are sending more troops to Afghanistan. Very convenient timing. Remind people of the TERRORISTS and how much we need to ensure SECURITY when they start complaining about land rights and asylum legislation, and of course interest rates and oil prices. Which leads me to:

2. Despite the recent rate hike (and I mean the first one, not the one the other day), debt levels and housing loan numbers are going up. Alarmingly, the number of loans for investment properties went up 4.5%. People, people, people, DON’T complain about rising oil prices and interest rates if you are going to keep borrowing at the same time. Investment is not a necessity, the whole point of rate rises is to make you think ‘Hmm, maybe I won’t spend this money’. It is not about a bunch of nasty men in suits making you spend an extra .25% when you buy that investment property you ‘simply must have’.

Basically, as soon as people stop spending so much money, interest rates will stop going up.


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