this post was submitted on 21 Nov 2024
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Guardian Economist Greg Jericho shows - with interactive graphs - how the RBA's interest rate policies have missed the mark and depressed Australian living standards in an unprecedented way.

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[–] hanrahan 3 points 1 day ago* (last edited 1 day ago)

I don't know the details of how that works, but yeah, it's possible for the vast majority of home borrowers to be on fixed rates.

Essetially "socalism", In the US Goverments backed Fannie Mae and Freddie Mac, so commercial banks had to compete for loans.

We'd need a government bank to do the same, I think its part of The Greens policy to reestablish one and offer them? but we'd need way more voters to pivot Green, thay seems unlikely, so we're left with the same stupid, repeating the same stupid mistakes... we sold the last Government bank off.

Or legislation and that's never going to happen with ALP/LNP.