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Blog: Stop The Bailout
Description: This blog exists as a space for people to try to coordinate the campaign to stop the coming Australian government mortgage bailout. It is essential if we are to avoid this kind of madness again that people like you and I do not pay for the losses of the institutions that made the bad loans, or the individuals who borrowed more than they could afford to pay more than their houses were worth.
Created by dan12959 points  on Fri 26 of Sep, 2008 [07:53 UTC]
Last modified Sun 12 of Oct, 2008 [06:54 UTC]
(2 posts | 5860 visits | Activity=2.00)
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shery250 points 
The time is now
on: Fri 26 of Sep, 2008 [08:44 UTC] score: 0.00
To everyone who is living in rented accommodation because they can't afford to buy a house, to all those who are paying far more than they can comfortably afford to rent a place to live, the time is now to stand up and be counted.

We need to object in overwhelming numbers about the Australian government interferance to prop up the already hugely overinflated property market. This stunt will place further upward pressure on house prices. It is totally irresponsible. They did nothing to stop the bubble developing, now they want to use taxpayers' money to prop it up. Well this black duck taxpayer says no way.....

I will draft a form letter and place on this site. Please use it 'as is' or change it to suit yourself. BUT PLEASE WRITE TO YOUR MP AND WAYNE SWAN to object. Remember taking no action is implying tacit approval. As an Australian citizen you have a voice and a right to express your opinion. There are fewer things more important than the right to a roof over our heads. Please get busy before it is too late.

Shery

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shery250 points 
Use any part of this letter as you see fit to send a message to the Government
on: Fri 26 of Sep, 2008 [09:44 UTC] score: 0.00
26th September, 2008

The Prime Minister Kevin Rudd and Treasurer Wayne Swan

Dear Sirs

You advised today that the Federal Government will use taxpayer’s money to buy RMBS and thereby allow more credit to be provided to homebuyers.

Cheap and easy credit has contributed both in Australia and all over the world, to a massive housing bubble. Australia now has the most expensive real estate, relative to income, in the world.

As a taxpayer, I have watched with growing disappointment while houses have become more and more unaffordable as the government encouraged speculators with massive tax incentives to bid up the prices of residential real estate. You have aided and abetted this process which has led to not only me, but a whole generation of Australians to be disenfranchised of home ownership. The lucky country now seems to be only so for speculators and those who already own homes.

Why did you encourage this bubble and not move to stop it developing? Why are you now interfering to try to stop it deflating?
If houses are to be treated merely as speculative assets rather than necessities, why should they not be allowed to rise and fall with market forces?

I object most strongly to my taxes being used for this purpose and request that you do not proceed with this action.


Yours faithfully

author message
shery250 points 
Do you need help to write your letter?
on: Fri 26 of Sep, 2008 [10:52 UTC] score: 0.00
I am offering to help anyone who would like to write a letter but has trouble with expressing themselves in writing.

You need to join this website, it's free - just go to HomePage, then click on register (left hand side of screen, near the top), then you can send me an email within this site. Send me the main ideas that you want to say and I will help where I can.

Shery

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juicedpixels2038 points 
My letter
on: Fri 26 of Sep, 2008 [11:51 UTC] score: 0.00
I just submitted my letter using the form on the PM's websiteexternal link.

___

Dear Mr Rudd,

I write to you as a member of your electorate regarding the news that the Australian Government will inject four billion dollars of taxpayers funds to 'boost competition in the mortgage market'.

I, like many fellow Australians, have strong concerns about the drastically poor level of housing affordability in Australia. I believe that we have the least affordable houses in the Western world. For young Australians, such as myself, this either means a life of living in houses owned by harsh speculative investors, or taking on unsustainable levels of debt for my lifetime. This would mean that I would have to work unrealistic hours which means spending less time with my family and doing things I that enjoy. The social consequences are harsh.

I believe that your Government's decision to inject the four billion dollars will not help Australia's housing affordability problem, in fact, it will make it even worse by continuing to allow 'easy credit'.

If you truly believe in making housing affordable for the average Australian now and in the future, you should abandon your decision to inject these funds into the Australian mortgage market.

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dan12959 points 
treasurer's website / getting the idea out there
on: Fri 26 of Sep, 2008 [20:04 UTC] score: 0.00
Hereexternal link is the treasurer's contact page.

I think another thing worth doing is leaving messages on the newspaper website blogs on news.com.au and domain.com.au and the fairfax papers. The reason is that the more pople write to the politicians the better.

I'm having a bit of time off still trying to get better - I'll try and make an appointment with my local member and let you know how I go. No doubt he'll say "you're not an expert" to which I'll be able to say that the experts didn't see it coming but I did! Oh dear.

author message
dan12959 points 
don't forget the letters editors
on: Fri 26 of Sep, 2008 [20:46 UTC] score: 0.00
This morning I sent them this

This government's purchase of worthless mortgages from insolvent financial institutions is the most ridiculous theft ever perpetrated on the Australian people.

The argument seems to go that if the government does not buy worthless mortgages then the non bank financial institutions will not be able to provide competition to the banks by lending even more money to people who cannot pay it back to pay more than houses are worth.

In other words if we do not buy the losses of institutional gamblers who seem to have lent to the greatest fool among the house price gamblers, then the economic miracle that is house price gambling will not continue.

So what? Gambling on house prices is not a productive activity. The two choices are to let it fail now, or watch it fail in a bigger way later.


5 of them are listed on the homepage under the first block of links. Please feel free to add any more you know of.



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