My 2.2 cents (GST Inc.)

It is a real prick when your opinions are taxed. Australia least powerful political blog. (Plus any other crap I want to talk about.)

Tuesday, February 08, 2005

Interest Rates: Up, up and away

It looks as if the Reserve Bank of Australia may need to raise interest rates in the next couple of months. Being one of the few Australians who has no debt I at least will not be affected. I don't even have a credit card. How people who are using 80% of their income to service their debts cope is yet to seen? Clearly some people are going to struggle. Debt is like food, it needs to be used in moderation.
One thing which I have noticed watching daytime TV recently, is the number of short term credit places that are advertising at the moment. Some are clearly having trouble already, so I don't know what will occur.


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