15 November, 2010

Charities expect to see an influx of new families seeking help.

"Charities expect to see an influx of new families seeking help. New data
indicates that 36% of NSW homeowners are under mortgage stress,
following a decisions by the big four banks to lift rates beyond the Reserve
Bank's increase."

It's interesting to see Capitalism continuing to effect those who have no ability to change/challenge or even benefit from it. Many homeowners will go into further stress, rents will increase and again the most disadvantaged will have the least ability to "find their feet" in the current economic situation.

Do these institutions just expect people to cope, expect NGO's to pick up the pieces or continue to have no regard for those most vulnerable in the economic climate?

Of course we can argue, which is the best of all systems.. but when will there be a social conscious that makes decisions based on the effects this will have as opposed to the benefits it already brings the most priviledged and positioned in society.

These are questions I am happy to hear your thoughts on, but for now I continue to be frustrated and sadden by a country that wants to thrive on economics rather than the people who make a nation great.

1 comment:

Tim said...

I Wholeheartedly agree!!! It seems at the moment that we are seeing capitalism at its worst here in Australia!!

You commented "when will there be a social conscious that makes decisions based on the effects this will have as opposed to the benefits it already brings the most priviledged and positioned in society." - that was my exact thought when I read recently that the average CEO IN Australia takes home $6.4MILLION. Meanwhile the average worker is seeing minimal increase in wages - and as you point out maximum increase in interest rates.

When key political and business figures in the developing world take more than they should it happens 'under the table' and is called corruption. When they do it in Australia they do it loudly, proudly and for all to see and it's called capitalism. It's doesn't matter what it's called it's morally reprehensible!!!!