The last Treasurer questioned the safety of super fund derivatives, but the biggest derivatives gamblers are the banks. Only a public post office bank will keep deposits truly safe.
The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
The primary purpose of Scott Morrison’s plan to give first home buyers access to their superannuation is not to help young Australian afford a home, but to keep the big banks ringing up profits from mortgages.
Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
Australia’s most experienced advocate for victims of predatory bank lending has slammed as “insane” Prime Minister Scott Morrison’s policy to lower bank lending standards to boost economic activity.
