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Is this how some banks work? (Read 1818 times)

Gnads

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Australian Politics

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Re: Is this how some banks work?
Reply #15 - Apr 6^th, 2014 at 7:35pm

ian wrote on Apr 6^th, 2014 at 7:07pm:

GrandPaPa wrote on Apr 6^th, 2014 at 12:32pm:

[
You think my original comment was an attack on you...??
Poor thin-skinned Ian......
It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest.
And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that.
Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me.
It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall.

Lol, looks like I hit the bullseye. Gotta love these guys.

So far in this discussion I don't reckon you've hit a bull in the arze with a bucket of rice let alone scored a bullseye.

Yeah farming is just like any other business ey?

No other business has to contend with the variables of farming.

Remember they're the people who keep all you city slickers fed.

"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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ian

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Re: Is this how some banks work?
Reply #16 - Apr 6^th, 2014 at 8:33pm

Gnads wrote on Apr 6^th, 2014 at 7:35pm:

Bullshyte. nearly all businesses are subject to economic variables. See what i did there? I countered your opinion with an actual fact. Bullseye.

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Richdude

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Re: Is this how some banks work?
Reply #17 - Apr 7^th, 2014 at 1:06pm

This is a morality question.
Australian farmers that I have met and have met many. Are decent, hard working people who feed not only Australians but millions all around the world with high quality produce. Very knowledgeable about farming but zero with regards to finance and the law.
On the other hand we have bankers - parasites from hell who deceive, cheat and steal these farms to make a quick buck. Disgusting..and whats worse is that these criminals get away with it .... for now.

The mediocre mind is incapable of understanding the man who refuses to bow blindly to conventional prejudices and chooses instead to express his opinions courageously and honestly.”

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Lobo

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Re: Is this how some banks work?
Reply #18 - Apr 7^th, 2014 at 1:57pm

Was just watching this story on Landline, and my ears pricked up at this.

Quote:

"Last June after reassessing him as a higher credit risk, Bankwest raised his interest rate from 8.5 per cent to 13.62 per cent." From OP

The bank considered this bloke to have become a greater risk???

Clever wanks, aren't they??
He'd be an even bigger risk with an increased repayment and less to spend on production.

Which is evidently what they wanted, as they have now reposessed.

I can understand, though not agree with, Reserve Bank interest rate variations, but where do banks get off suddenly "deeming" a customer to be a 'greater risk' thereby slugging him with a higher rate???

Where are all our National Party MPs??
Where is the Farmer's Federation???

Fat lot of good they're doing for the people they are supposed to represent!!!!

"What's in store for me in the direction I don't take?"-Jack Kerouac.

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John Smith

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Re: Is this how some banks work?
Reply #19 - Apr 7^th, 2014 at 2:23pm

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 11:42pm:

ian wrote on Apr 5^th, 2014 at 3:08pm:

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry....

I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence.

I'm not too clued up on the costs/expenditure/income position of farmers, but it seems to me somehow very lacking in something to have a multi-generational property and not be able to make a profit out of it without massive borrowings constantly.

the problem with farms, especially the bigger ones is that you need a lot of capital throughout the year with no guarantee of a return. Many spend figures like $200 000 just to plant hundreds of acres of crops, and a few bad frosts, or a flood, or a drought and there is no product to sell at the end of that year ... so the next year you have to spend another $200 000 and again, no guarantee of a return ... do that a few years running and you quickly owe much more than your properyt is worth

same with stock ... especially during times of drought where all feed and water has to be trucked in over hundreds of kilometers ... if you have 10 000 head of cattle, it used to cost me $50 week to feed my dog, and water was for free, imagine food and water for a cow, then multiply it by 10 000 ..... where does the money come from? you can't sell the cows because their all bones and skin, it would cost more to transport to market that you could get ... they get stuck with them and have to hope that the drought breaks sooner rather than later

Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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