Rates 📈
Discover more from The GC Minute
In today’s email:
Up ‘n’ up: Rates are on the rise, again
GC Gets Digital: Your licence on your phone, real soon
Trending on Twitter: Even on the GC, D. Trump
Around the Web: In r/GoldCoast this week
Weekend weather (change of season wetness)
1. One Big Thing: The Central Bank Juggling Act
What’s the craic (St. Paddy’s week….🤷🏻♂️)
After multiple banks collapsed in the last two weeks, central banks now face a huge balancing act, torn between fighting inflation and maintaining financial stability.
Overnight
💸 The US Fed hiked rates again. Credit Suisse went down only days ago, the fifth of as many banks in the last two weeks.
It was a smaller hike than expected.
This shift in hike size may actually benefit Australia's Reserve Bank (RBA) and, in turn, Gold Coast residents.
How?
A pause or slowdown in US rate hikes could be a game-changer for the RBA, which is already mulling over a similar move.
By the numbers
2020 and 2021, new and first mortgage holders are feeling the pinch.
This would give a much-needed breather to Aussie borrowers transitioning from cheap fixed mortgages to higher variable rates.
A banking crisis is good for you
Believe it or not, a US banking crisis might just be the saving grace for Australian mortgage borrowers.
A rate relief could be the silver lining for households with exploding costs on all fronts, with debt and mortgage rates and whatever else they Zip and AfterPay’d since the pandemic.
Rewind
After all, the global financial crisis in 2008 ultimately rescued Australian households from ballooning debt and mortgage rates.
As the world watches with bated breath, could this crisis be an unexpected boon for some?
Keep an eye on the next four weeks.
2. Let’s Get Digital
Gold Coasters to get digital driver’s licence within months in 2023📱😎
What’s happening
After seeing one of the week’s top local Reddit articles blow up in the comments, we went digging..
Is it finally happening?
Yep!
Say, seeya later to the days of leaving your ID at home!
It will be here within just a few months, the Digital Licence will be rolled out and a one-stop app for your:
Driver licence
Photo identification card
Recreational marine licence
Is it road worthy?
Trials have been flying in the Fraser Coast region for a while, and Townsville joined the party in early 2023.
Spreading the digital love
From here, the Digital Licence app will be fully rolled out through Queensland in the remainder for 2023.
The Big Picture
And even bigger pros:
Convenience: No more fumbling through your wallet for IDs
Security: Encrypted info and biometrics keep your deets safe
Privacy: You choose which info to share and when
Is that all?
Nope. The future is bright for this little bit of tech.
More credentials are expected to join the Digital Licence app soon after fully launched.
Get ready to ride the digital wave! 🌊
Trending
Even on the GC.. Jail for Trump.
Really?
Not yet. Court processing hasn’t even started yet, as there was a bomb threat called in on the first day.
The Charges
Grappling with four legal predicaments that could have a significant impact:
Hush-money & business practices: New York prosecutors are investigating alleged payments to Stormy Daniels and scrutinising the Trump Organisation's business practices.
With prior convictions within the org, Trump's future remains uncertain here.
Mar-a-Lago mystery: The Department of Justice is probing the removal of government documents from the White House, later found at Trump's Mar-a-Lago estate.
The outcome could result in charges if violations of the Espionage Act or obstruction of justice are established.
Capitol chaos: Trump's alleged role in the Capitol riots is under scrutiny by several federal government bodies.
While a congressional committee has recommended charges, the justice department's criminal probe remains shrouded in secrecy.
Election drama: Prosecutors investigated Trump's attempts to overturn his loss in Georgia during the 2020 election.
A grand jury filed a final report, which remains sealed, raising questions about the potential charges and implications for Trump and his allies.
Around The Web
Coomera Connector chat
It got heated
The Australian federal government has dismissed a last-ditch effort by a small group of Gold Coast residents to reconsider its approval of the Coomera Connector.
Why?
The residents cited "substantial new information" and unforeseen changes regarding the project's environmental impact, particularly on endangered koalas.
But the road is good
This is a highway designed to alleviate major and significant congestion between south Brisbane and the Gold Coast.
The Gov chipped in
A spokesperson for Federal Environment Minister Tanya Plibersek said the 2020 approval remains in place, as there has been "no change to the original assessment process."
So, that’s that
Whether you like it or not, the Coomera Connector is happening.
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