Punters feeling the bite of a government policy shift raising the cash rate have been pacified by countless journalists simplifying complex economic mechanisms into the weekly shift in mortgage repayments. As most landowners attempt to navigate complexities of the monthly policy, journalists with an equal lack of knowledge have done the hard math of what a half percent is on a $500,000 loan.
Leading political journalists from all the major publications have stood behind ‘the hard figures’ leading to multiple satire publications quickly doing the conversions of mortgage repayments into avo-latte’s forgone in an effort to ‘break it down’ for the millennial demographic. When local millennials were approached on the street all inquiries on how they felt about the most recent shift in cash policy were met with a glassy stare and mumbling of “what’s a mortgage” under their breath.
Lionel hodgepodge, 63, had this to say on the repetitive dribble, “The thing is, I get all my information from the old news print, and I need to be kept abreast of the small changes in my extensive portfolio as I want to make sure I am claiming all deductions from my negatively geared properties”.
Baby boomers the nation over take comfort in being able to criticise the decisions made by the RBA based on the impact it will make to their monthly budget. This impact normally being limited to whether or not they will have two bottles of sauvignon blanc with their caviar or just one.
Bleeding heart liberals on the other hand have quietly moaned about the state of the economy again.
Critical analysis on all the other factors of the recent policy change have been made and subsequently disregarded by local economists.