
- 23 September 2015
Australia Takes a Backward Seat in the Money-Go-Round
On September 3rd the European Central Bank recorded inflation at just 0.1% and GDP growth of 1.5%. The European monetary merry-go-round is stalling to a halt. In response, they are now flooding the market with more credit to stimulate spending and speed up the economy. America has already done this successfully as we now see its recovery well under way.
What’s happening in Australia? The reverse!
The retail sector is being starved of funds to pander to APRA chief, Wayne Byers’ need to shore up our most cosseted sector of our economy. It’s the sector with the greatest profit margins compared to assets. The sector that has a “free financial insurance policy” that means they call upon the Reserve Bank should they need it in a financial crisis.
What businesses would love to be in this position?, Butcher, baker, candle-stick maker, builder, developer – all those people that suffered margin calls when Rudd granted the four banks a banking monopoly not so long ago. Remember how they savagely demanded margin calls, willingly selling up very viable businesses.
Which sector? The banking sector!
Mr Byers, please face forward on your horse. Or else, dismount!
How can you fight back?
Don’t agree to your banks greedy call to go principal and interest. This increases your repayments by 40% and this extra is NOT a tax deduction. Dont agree to giving them more cash or security when they “revalue” down your properties. These are organised attacks on your disposable income. Don’t stay with the big four, see your Club Broker for a better deal with their competition.
Stay tuned for next weeks insights,
Kevin Young
Kevin Young
Club Founder
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