The RBA instructed by Wall Street. Truth!

Dan.

All about the US. Here, in Australia, I am all for higher interest rates for my moderate investments; and younger people, moaning about mortgages need to realise that they have been living in a fools' paradise, that they need to prioritise their spending, and learn to BUDGET.

I remember interest rates up to 18%.

" Is the US going into recession?"

No.....it's already there.

I disagree with the Author's take. I see the rate rising to 9 plus percent by as soon as Christmas. And as that bites as it must, along with the exponentially rising cost of energy and everything else, usher in a recession the like of which not seen since the Great Depression!
Alan B.

Taxpayers will bail out mortgage defaults.

A better view of the problem of manipulated interest rates, is to guess the answer to the question; what percentage of the population rendered homeless, will be considered problematic to the re-election chances of the incumbent Government?

At the moment both sides of the fence are ignoring the crisis of homelessness among the rent-slave class, so my bet will be on for a continuation of the ignorance in the shorter term.

And of course the other question is; how long before the banks demand the Government stump up with tax payer dollars directed towards their bottom line, as compensation for loan default losses.

If I were the Government, I’d be quickly compensating the banks with tax payer dollars to shut them up and aid them to carry the load of defaults.
That option would also curry favour with those in default facilitated by the generous move, to continue being housed, thus shunting the entire homeless problem back to where it least matters; the poor, (being predominantly the rent slaves). How easy is it!

Dan

Who put this title to this article, and why?

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ttbn,
Higher interest rates are almost entirely bad for economic growth, as they discourage businesses from investing in new equipment.

High interest rates in the Hawke era were the result of Keating overreacting to inflation. He got it wrong and it resulted in a recession. I don't know if the reason for them being high was the same when Howard was treasurer - do you?

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Alan B.,
Where did you get the idea that the cost of energy is rising exponentially? There was a huge rise when Russia invaded Ukraine, but it seems to be going down at the moment.

A recession only occurs when those trying to rn the economy get it wrong. But they're quite an easy problem to solve - they can just put the interest rates back down to where they were at the start of the year.
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diver,
Unemployment's still low, and the government's announced a huge send on public housing, so what makes you think more people will be rendered homeless?
And why would taxpayers bail out mortgage defaults? It may have escaped your attention, but banks don't set government policy.
I'm certainly glad you're not the government!

Aidan

And speaking of homeless, I’d suggest moving out of your “bong” to live in the real world.

Dan.