Meat Prices (and the rest)

  • Had a conversation with one of our suppliers yesterday and was told to expect a 20-25% increase in Meat prices before Xmas.

    Imported BBQ gear has already had a similar increase and likely more to come!

    ABC News was saying if the RBA continues to add increases to the cash rate the average mortgage will have increased by $900 a month by the end of year!

    Not looking too rosy on the horizon!

  • Its the cycle I guess. Most of us older guys would remember the 80's at 17% interest rates and people losing their homes.

    I remember when the wife and I got our first mortgage the interest rate was 9%.

    Personally we have had a good run as they have never gotten back up to that. :/

    I do feel for those that have the average Mortgage (as the media says) of $750K it will hurt big time and then the house prices may drop as well leaving them in some cases owing more than what the house is worth. :(

    Fortunately on the BBQ front I wont need anything more :/

    The meat price will be an issue however I reckon that we will see the rise of the casserole again with cheaper cuts being more popular like they used to be during tough times.

    Hold on tight it will be a bumpy ride.

    Enjoy your "Q"

    Primo XL, Primo Jr, GMG Davy Crockett, Char-Broil Grill2go and Ziggy Portable.

  • Lots of noise about increased rates and costs, pity there was not equal noise from every one when retired and pensioners like us were only getting .5% on retirement savings. Lots of squeals about cost of living but airlines are packed out, holiday locations booked out. Might be a good idea if the general public lived with in their means instead of on credit and borrowing which is an all time high.

  • Most of the factors impacting inflation are outside what we spend. Russia going mad, supply line issues overseas, oil companies upping their margins big time here and flooding wiping out vege crops.

    Putting my mortgage up will have zero effect on the above issues. I'd like to see an adjustable GST. If you are not spending any money on discretionary items, ie just buying the basics like food, then most of the items you buy do not attract GST, but if you are going out, buying new electronics and cars, then you are paying GST, jack these items up and leave the mortgage alone.

    Traeger - Weber Family Q - Ziggy Twin Burner - Charcoal Grill - Akorn Kamado - Hark Tri Fire - Jumbuck Pizza Oven - Go Anywhere - Asmoke Pellet Grill - Hibachi Grill - Anova Sous Vide x 2

  • Interest rates this low are not normal. They were reduced for a good reason and now they are going back up to normal levels for a good reason.

    Changing the GST rate is not a lever that can be used with any agility.

    Masterbuilt Gravity 800 | Maximus Pizza Oven | GMG - Daniel Boone | Cyprus Grill | Big Steel Keg | Blackstone Griddle | Fire Pit | Weber Genesis |

  • I've always said Make the GST 15% but stay out of Land Tax, Stamp Duty, Death Tax, Capital Gains etc

    Yes I agree. Unfortunately the taxation system is badly in need of an overhaul, but it goes into the too hard basket after every election.

    In this case where the economy is going gangbusters and unemployment is incredibly low, despite most inflationary pressures being outside of our control, the interest rate is one lever that can and needs to be used to keep things in check, particularly when we're still at such low levels historically speaking. Let's not forget that low rates stimulate the economy. And it's not just mortgages that are being controlled and affected by interest, but importantly it's also business loans, investments, etc.

    Masterbuilt Gravity 800 | Maximus Pizza Oven | GMG - Daniel Boone | Cyprus Grill | Big Steel Keg | Blackstone Griddle | Fire Pit | Weber Genesis |

  • Putting my mortgage up will have zero effect on the above issues.

    I think single-home home owners should have access to a lower mortgage interest rate. An interest rate guaranteed by a separate section of RBA.

    In this way they could increase rates to slow down the economy but the average struggling joe that just wants a roof over their kids and is already engaging in the economy at the bare minimum is protected.

  • As for meat prices, I seen chuck steak going for $20 per kilo yesterday....bloody hell!!

    So I'm thinking i may prime up and service my fishing gear and catch some fresh protein.

    I don't get to eat fish often as I'd like but i'm thinking that fish may be better value per kilo these days than prime steaks.

    I bought 2 steaks from Woolies, 1 x scotch fillet @$43 per kilo and 1 x rib eye for $40 per kilo, both steaks around 300 grams +/- and they cost me around $26. Now I'm thinking I could get 2 nice full snapper for much cheaper than that. Now I gotta remember what reel went with what rod :shrug:

    Weber Performer (Sage) Weber Jumbo Joe (Black) Weber Master Touch Plus (Deep Ocean Blue)

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