A segment on ABC Illawarra where I discussed the possible changes to payment regulation in Australia.
Go to the Walk The World Universe at https://walktheworld.com.au/
More Banks Behaving Badly
ASIC is taking ANZ to court in the last of the post Royal Commission actions and APRA reported on the latest bank financial data as new high debt to income ratio loans continue to climb.
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Will Banks Be Stressed Too?
We just got the results of the Reserve Bank New Zealand Stress Tests, and this year the RBNZ undertook both its regular solvency stress test, challenging the resilience of banks’ capital to a severe downturn, and also put the spotlight on banks’ liquidity and funding resilience through a liquidity stress test ahead of next year’s review of the RBNZ’s liquidity policy. The solvency stress test included the five largest banks – ANZ NZ, ASB, BNZ Westpac and Kiwibank – and the liquidity stress test featured those five plus Co-operative Bank, Rabobank NZ, Heartland, SBS and TSB.
https://www.rbnz.govt.nz/news/2021/12/stress-tests-show-strengthening-bank-resilience
Large banks fared worse than the smaller banks. However, banks were able to identify actions that, if effective, would considerably improve the outcome.
Now the banks is at pains to highlight the stress test scenarios are hypothetical and don’t represent its view of the most likely future path for financial stability risks. And the RBNZ doesn’t release individual banks’ stress test results. Unlike the results from the Federal Reserve in the US, where individual banks results are disclosed. In this respect New Zealand is following the opaque strategy APRA also executes, which is a pity. Not least because in New Zealand, Bank Deposit Bail-In is a thing via the Open Banking Resolution, and the RBNZ has warned people to do due diligence on the individual banks – so why don’t they disclose the detail we ask?
Go to the Walk The World Universe at https://walktheworld.com.au/
Flip To Rally Mode – For Now: The DFA Daily 8th Dec 2021
In today’s show we look at the latest from the markets, consider the proposals for digital currency reform in Australia, and look at a weak report on the Bank of Mum and Dad from the Productivity Commission.
First as expected, we flipped back to buy mode on the markets, as the impact of Omicron is re-calibrated, and ahead of the US inflation number at the end of the week. We keep flipping from buying value stocks to growth and back.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
FINAL REMINDER: DFA Live Today 8pm Sydney: Latest Household Stress And Scenarios
Join us for a live Q&A as I discuss the latest from our surveys and models, as we look at the latest mortgage stress and scenarios. You can ask a question live via YouTube chat – down to a specific post code. We will also look at the latest news, including the new HILDA report and the RBA decision today.
Go to the Walk The World Universe at https://walktheworld.com.au/
Its Edwin’s Monday Evening Property Rant!
My regular chat with our property insider Edwin Almeida. We look at the latest listings, some recent property deals, news from the WeChat Chatters, and Edwin’s latest property time.
https://www.ribbonproperty.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
When Up Is Down!
Late last week the ABS released their latest lending indicators to end October 2021. There was much rubbish posted about these numbers, with various claims of booming investor loans, but these stats suggest to me a potential easing of new loan momentum, which is an indicator of easing home prices too – because as you know if you watch the channel, the rate of change of credit is one of the best proxies for price changes.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Seeking A Value Anchor With Peter Schiff
Peter Schiff is an American stock broker, financial commentator, and radio personality. He is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut.
We discussed the latest ructions of the markets, whether we need Central Banks, and of course the role of gold in the financial system ahead.
Bestselling author and economic forecaster Harry Dent will debate Peter Schiff, American stockbroker, financial commentator, radio personality and the leading gold bug in the US in the ECONOMIC GLOBAL CRISIS DEBATE live online at 11am Tuesday 7th December 2021 with free registration at www.greatdebate2021.com
Both Harry and Peter agree there will be a major financial collapse in 2022however Peter says gold will skyrocket and the US dollar will go down like a hot knife through butter after the imminent biggest market crash in history. Dent argues that gold has no currency value and disagrees about the US dollar going down. He challenges people to take a gold coin to a grocery store and try to buy something with it. Since gold doesn’t circulate throughout the economy, he believes this to be one reason its price will crash.
Safe havens to invest? Dent believes US treasury bonds and quality bonds will become the new safe haven after the economic downturn while Peter sees Gold as the ultimate safe haven.
Go to the Walk The World Universe at https://walktheworld.com.au/
Crypto Is NOT Immune!
We already covered the recent market falls in our show yesterday, but there was not time to cover the market movements in Crypto land. I have suggested that Bitcoin for example, being a pure digital play, with no underlying, is more exposed to volatility in times of uncertainty. So while Gold when nowhere, as markets fell, Bitcoin shed a fifth of its value on Saturday thanks to a combination of profit-taking and macro-economic concerns. This triggered nearly a billion dollars worth of selling across cryptocurrencies.
At one stage Bitcoin was 22% down to as low as $41,967.5 during the session, taking total losses for the day to 22%. It subsequently recovering from the biggest drop in crypto since September 7th and is sitting at 49,038 a mere 7% down.
The broad selloff in cryptocurrencies also saw ether, the coin linked to the ethereum blockchain network, plunge more than 10%.
Go to the Walk The World Universe at https://walktheworld.com.au/
A Case Study In Corporate Capture
More than 4,000 Australians die unnecessarily each and every year due to avoidable exposure to asbestos. Yet inaction from the firms who created the problem, as well as from Governments and regulatory bodies leads to the conclusion this is probably one of the biggest and most intractable corporate scandals in Australia.
Using research from Asbestos Awareness Australia, a registered charity with the objective of raising awareness in the community, we examine how it is that companies driven by greed are able to play the system, while more people die.
The report is available here:
The worst form of the disease is mesothelioma, a cancer which has a 5 year survivability rate of just 6.5%, the worst on the cancer scale. And yet, even short-term exposure is sufficient to cause the disease to appear years later, and those doing DIY renovations are most at risk.
Public awareness campaigns are mute, and an estimated more than one third of properties across the country (homes, businesses, and Government buildings (e.g. schools) are exposure sites. In addition to rotting old asbestos, we are still importing products contains this carcinogen.
Reform is long (60 years) over due but because of corporate capture, nothing is changing. This video explains what is going. It is a classic case study.
You can find out more at the charity website https://asbestosawarenessaustralia.com.au/ where you can download a range of reports and videos on this important subject.