Bank Balancing - Home Loan Rates

It is interesting to see that the major  banks in Australia are posting huge profits for their operations.  This a good thing.   As it demonstrates that they are financially viable and able to withstand the negative international financial forces that have been and are still currently operating around the world. 

 

We must also remember that the banks did not get there by themselves,  that there is still a Federal Government Bank Guarantee, initiated by the then Rudd Labor Government,  for deposits up to $1million for financial institutions to attract investors which can then be loaned for business/personal/home loan financing.

 

However there are also community and political rumblings that the financial institutions of the Banks may indeed raise their interest rates for borrowers, beyond that set by the Reserve Bank of Australia, irrespective of the large multi Billion profits and the protection of the Government deposit guarantee.

 

With some recent discussion on Government interventions into the introduction of further banking regulations,  it could be seen as timely for the banks to remember that there is a two way street.

 

Banks can't scream for the Government to protect them from the excesses of the international financial community, accept protection from the Public Purse,  yet once it has assisted them and the going is good, then scream again that it's is not ok for Government intervention to protect the taxpayers from their excesses. 

 

It seems that the message from the Banks is, "We like democratic socialism when things are bad, as the taxpayer will foot the bill, but we hate it when things are good and the Government should leave us alone within a 'Free Market Economy'." Perhaps the sub text is, "we'll slug the taxpayer for the privilege of having used their money to get us back on our feet."

 

It is my contention that the Government should legislate to fix the 'maximum' Family Home Loan rate at 5%.    That is,  irrespective of market forces the maximum, I repeat the maximum, that private home loan rates would be forever and a day is no more than 5%.   Of course given economic circumstances this, as in recent times, could go lower.  This rate would not include, 2nd homes, investment homes, homes through company's etc etc, it is for the 'Family Home' only.  If people register their home at the Home Loan rate and sell, then the next family main place of residence falls within the Home Loan Rate.

 

There are a number of benefits for this system,  the major of which is that families will be able to budget longer term for their financial security and not have to juggle from from month to month dependant upon the fortunes and greed of the Banks.  There will be stability in the Family Home purchase market.  The investment property market will continue as it will.   This legislated fixed rate will be great for the economy as more young families are able to enter into and maintain their homes.   Young families entering the more affordable Family Home market, will enhance the stability of families, neighbourhoods and communities.  

 

This is my personal view.

Mal

RSL Remberance Memorial

Firstly I have to declare a personal interest in the RSL and the support of the Armed Forces,  as I have a whole of family connection to the Armed Forces since, WW1 through to the peacekeeping missions in East Timor and Solomon's and the current Iraq and Afghanistan wars. 

 

It is interesting to see that a positive proposal has been put forward for the use of RSL Park and ANZAC Pool for consideration by the Federal Government.  It is not so long ago that the then Bundaberg City Council was hell bent on making this area a Turtle Centre that would have created a whole range of social and infrastructure issues within the inner city. 

 

If the previous Turtle Centre had been approved this recent sensible proposal by the RSL would have not even seen the light of day.  There where, thankfully, many community based groups and individuals that worked tirelessly to have the Turtle Centre fiasco finally put in the fantasy basket.

 

From what I have read and discussed on the RSL's Remembrance development, I believe it should be wholly supported by the current Bundaberg City Council, State and Federal Governments. 

 

If nothing else,  it is fitting that we continue to ensure that those whom have given the supreme sacrifice for our country, and those that have served and continue to do so in any arm of the Australian Armed Services, before and since our federation, be remembered not on a continual basis through the development of a high profile memorial. I especially like the memorial walk idea that links the current cenotaph at the round about with the new memorial park. 

 

Such a memorial will not only be a daily reminder to our own community of the supreme sacrifice and efforts of our Armed Forces, but it will also attract thousands of visitors every year, ensuring that we remember why we enjoy the democratic freedoms we have.

 

Though it is also interesting to note,  that the Millions of $ wasted on the Airport Upgrade and the miss-location of the Hinkler Aviation Museum in the Botanic Gardens, (now there's a miss match if there ever was). Surely an Aviation Museum would have been built at the airport, and in fact could have been the terminal upgrade.  If the two projects had been joined together at the airport site, it would have created enough savings to develop the RSL Memorial Gardens site 'without' any other funds.  'Hey', but there's another blunder the Council doesn't want us to remember.

 

For those whom have given the supreme sacrifice for our country and for the current Bundaberg Council that has blown Millions of $ on the Airport and Hinkler Aviation Centre, "Less We Forget!"

 

This is my personal view.

 

Mal

Sense of Community

I was born in the year of the launch of  Australian Television 1957.  We didn't have a television in our house until I was 10, 1967. 

It was, of course, black and white, and the two local stations went off the air at 10 pm, after playing the national anthem and epilogue; it came back on the air until 6pm next day with the Local News.  There was no National/International News.  That came via 'The Sun' paper in the morning and 'The Herald' in the afternoon, that is of course if I ever ventured into reading them. 

The first television that I remember seeing was that of Mr Spencer's.  He was our up the back next door neighbour and was the first in the neighbourhood to have any type of television.  One that had a wooden veneer casing, a large convex screen, cloth covered speakers on both sides and took about 5 minutes (well a kids 5 minutes) to warm up.  Mr Spencer, (Phil) used to turn his big TV towards his front yard once a week on a summers night and bring it up against his low windows so all the neighbourhood kids, and adults, could watch 'The Graham Kennedy Show'.  I didn't understand most of it but I remember the howls of laughter that was continually coming the 'the Spencers' front yard. 

As an adult I can now reflect an understanding, that I was not aware of at the time, of the diversity of whom lived in our mixed 'commission housing', 'owned home' neighbourhood no matter their occupation, standing in the community, age or race, there was a number of 'New Australians' (Italians), and some of the stolen generation kids within our neighbourhood.  We all lived in harmony, and shared the cup of sugar, the jug of milk and the neighbours kids stayed over at our place/and us at theirs from time to time, that created an extended family whom cared and supported for each other. 

It wasn't until much later that I fully, and finally understood, how my mother knew what I had been up to and could recount each of my movements during the day.  It was her natural extended network where friends of hers, though not related, where my 'auntys', my 'uncles' and where each family looked out for each others children and young people.  Though not aborignal it was then, much like out aboriginal communities try to hold onto today.

It is the extended family, natural or otherwise, that our communities should be encouraging, starting at the local, street by street level.  We have been slowly become ensconced in our own four walls, removed from our families, our neighbours and friends communicating by text, email, twitter etc that the 'neighbour' of neighbourhood has been lost, though not irretrievable.

This is my personal view.

 

Mal