Is it pride or fear of ridicule that prevents local government authorities and many fund managers from releasing their poor investment strategies, or is it more that inducements paid to them to make recommendations will be revealed; how many banks in Australia – like NAB – have dealings with and apply pressure through law firms [...]
Entries Tagged as 'banks'
Local Governments & Fund Managers Ripped Off by Banks
February 8th, 2010 · No Comments
Corporate Government Greed 2 or The EU Breakup
January 28th, 2010 · No Comments
The problem with money is, you can never have enough of it. As banks around the world showed, Gordon Gecko was their idol and no avenue of extracting $’s from anyone anywhere, from local governments, the retired and pension funds put there for those who – after a life-time’s work – could live a comfortable [...]
Tags: banks · big picture · economy · europe
Banks Want More Profits, But Can Loans Be Repaid?
January 17th, 2010 · No Comments
Australian families plunged into the red the Christmas period of 2009 and for the first time, owe more in household debt than the entire economy earns in a year; outstanding debt on mortgages, credit cards and loans now stands at $1.2 trillion, up 71% in five years. This record credit binge largely fuelled by the [...]
Tags: australia · banks · economy · money
2010 Will Be Worse
January 14th, 2010 · No Comments
The year 2010 is likely to be the pivotal year where pundits stop referring to the recession and begin openly talking about a depression. Our economic problem is rather simple to describe: There is too much debt relative to income and/or wealth. Below is a single graph that depicts the condition of our economy. It [...]
Tags: banks · economy · money · usa
America’s Sub-prime Mortgage Time Bomb Went Off
January 14th, 2010 · No Comments
It looks like Canada is next and will Australia follow as another financial vacuum hits? The federal government’s First Home Owners Grant and state governments’ ‘free stamp’ duty helped bolster the housing market in Australia; news stories via the main stream media are warning of rent increases, but where do they get the information? I [...]
