RBA

Debt. Credit card debt. Personal debt.  For many reasons, people may get themselves into financial difficulty with unmanageable debt levels. These reasons may include sickness, loss of job, broken relationships or purely over-commitment. This article explores methods of dealing with these situations for individuals from informal means to more formal approaches under the bankruptcy provisions to enable financial rehabilitation.

Australian GDP growth will slow this year shifting the focus back to monetary policy and Macquarie Group chief economist Richard Gibbs forecasts the RBA will respond with two more rate cuts during 2012.

Gibbs was speaking at the 2012 Financial Standard Chief Economists Forum, which attracted over 1400 delegates in Sydney and Melbourne this week.

 

How much should parents prepare for a child to go to school?  Australian Scholarships Group (ASG), a not-for-profit friendly society , published a report saying future schooling including kindergarten for kids born in 2012, will be  $428,723 at independent schools, $212,920 at Catholic schools and $65,829 at public schools,  The scary part is that the national survey suggested private schooling costs will grow by 25% in the next 5 years and public schools by 12.5%

Japan Ministry of Finance reported 2011 accumulated government debt has reached 229.1 % (yes, 2.3 times of what they make!) of Japanese GDP on a gross basis.

FY 2011 budget ordinary expenditures were JPY 92.4 trillion, including

My video response to the Australian Financial Review article "Japanese in home Loan push"

Consider diversification of your investments and professional financial advice before your personal wealth deteriorates.

Last week Bloomberg reported the Fed published reports on the scope of borrowings and emergency funding. They described these loans as “secret” because the details of dates, interest rates, quantity and loan amounts and actual borrowers were undisclosed.  The Bloomberg commentary suggsted this was done on purpose to avoiid a global run on banks. It has also been reported in media that UK and Australia have run out of paper money and stated to print more blaiming the lack of cash in the system.