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Joined 1 year ago
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Cake day: June 14th, 2023

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  • That’s not really true. Banks getting higher interest on loans also pay out more interest on deposits, otherwise they’re unable to attract and retain customers. FI profitability is based on net interest margin (revenue from lending - losses from deposits), and they need deposits to have the money to lend out so they can’t arbitrarily lower their deposit account rates to increase NIM.

    Banks get richer no matter what happens, because people need loans. If anything, higher rates make it more challenging for banks to make money as people are less able to make repayments and less likely to take out loans for luxury purchases or holidays.
















  • Eh, not fucking things up in the way that seems to happen in the states. Our conservative government is much more corporate oriented and less strong on climate policy, but they aren’t insane. They don’t tend to strip rights from women, and almost the entire party supported gay marriage legalisation with many openly stating they personally disagreed with it but understood that their constituents needs should come before their own opinions.

    Edit: I guess to expand upon my point, mandatory voting means candidates need to run on a platform which considers the needs of the whole population. Optional voting means that if 50% of the population doesn’t turn up, and 30% of the remaining population feels very strongly about an extreme view, it becomes easier for that extreme view to win an election.