What I am most concerned about is the current condition of the 'Financial World' and that my friends effects all of us, no matter where you live !!!
[Disclaimer: Let me say up front that I have no formal Financial Education and any opinions expressed by me are only that 'opinions' !
My opinions are based on over 40 years of being a Business Owner and being able to survive through a number of so called Credit Squeezes and Recessions]
My big concerns are listed below but not in any particular order as in their own right they are all important:
- Interest Rates, historically low (America at 0%, Australia 2%, this is making borrowing 'too' easy which leads to more 'debt'!
- Debt both Domestic and Soveriegn, the numbers in the Debt ledger are mind boggling ( and if numbers I have read are true debt has nearly trebled since the GFC in 2008) Prob due to the first point above!
- Gross Domestic Product, at .2% growth Australia is a whisker away from being in a 'recession' cycle! and it is 24 years (so I'm told) since Australia has had 'negative' growth. Bad Sign that one :(
- Refugee situation, you might say what has the refugee situation got to do with 'finances' ? I just ask ? Where does the money come from to pay for the Refugees being relocated to all the Countries that are being compassionate enough to accept them into their welcomeing arms?
- Global Warming, again the cost of 'fixing' Global Warming seems to be aimed right at the Taxpayers Pocket!
- Government Fragmentation, by this I mean the inability of the Ruling Party of Government, no matter, where in the World be it in the USA or Australia , to get through Laws that are needed to encourage Progress!
Cheers for now
Image attribution: Jeny - https://pixabay.com/en/cloud-storm-sky-storm-clouds-278230/