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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide. Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years. For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams. She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.
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BFCSA: Westpac predicts interest rate rise next year
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Major bank pulls about-face on interest rate future
by Adam Smith | 18 Mar 2014
A major bank has reversed its prediction that rates are set to drop further in 2014, and is now predicting a rise next year.
Westpac had previously predicted two further rate cuts before the end of 2014. Chief economist Bill Evans has now pulled an about-face, and has instead forecast that the RBA will remain on the sidelines for the rest of the year.
Instead, Evans has forecast the beginning of a new tightening cycle, with the first 25bp interest rate hike occurring in the third quarter of next year.
"We still see those forces operating to moderate growth and inflation pressures but now assess that better news on employment, consumption and business confidence will dampen those contractionary forces to exclude a sufficiently strong case to cut rates," he said.
http://www.brokernews.com.au/news/breaking-news/major-bank-pulls-aboutface-on-interest-rate-future-185503.aspx
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Comments
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Friday, 21 March 2014
I have no idea where they get their figures from
Western Australia is in the flattest least confident business market I can ever remember seeing it. In nearly 20 years of owner operating our business I would be scratching to even find a time that comes close to matching this downturn. State Government projects have been shelved or quashed only necessary infrastructure is going ahead and the mining industry has slowed dramatically. Adding salt to the wound our mining and big business have either moved offshore or setting up their administration offices in the Eastern states taking with it all the add on jobs such as uniform manufacturing, stationary, machining, engineering and many other associated services. A State Government such as this one in the West which is a complete and utter shambles and a rabble to boot, run by a dictator that only looks after the big end of town has lost the perspective of growth and prosperity preferring to share the wealth with a limited few. But I digress back to the real issue here another increase in interest rates at this moment in time will bring the entire country to a grinding halt, it may well be on the banking wish list but it is not what will work for the future at this moment. We must of course take into account the banks must be desperate to be able to get an upward move where they can again exploit the masses after all they have made such meagre profits of recent times hehehehe.
I do hope Mr Evans gets his wish!!!!! maybe for an early XMAS present. -
Friday, 21 March 2014
Just letting us know they have plans D E and F well in place for if interest rates rise more aussies will be forced out of their homes to free up more sales to overseas buyers. Treason is my view!
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Friday, 21 March 2014
Just to make you wanna throw up I have just opened today's mail to find a letter from ANZ! Not a response to my letters to Mr. Michael Smith of course wanting all those missing spreadsheets and the 2 cover sheets with the big tick to indicate where my loan was heading but one saying "DON'T GET CAUGHT WITH OUT A PIN". Looks like they are using their crystal BALL and doing a bit of devious spying for it goes on to say they have noticed I have not been using my pin number for my ANZ frequent flyer card and have sent me a reminder of what it is for come 1 August 2014 signatures for all credit debit and prepaid card purchases are to be abolished. Signatures too dangerous for banks to handle one can only assume when it also says this
AUSTRALIA IS REPLACING SIGNATURE WITH PIN BECAUSE IT'S A FASTER MORE SECURE WAY TO PAY THAN USING A SIGNATURE. THERE IS ONLY A ONE IN 10,000 CHANCE OF SOMEONE GUESSING YOUR PIN BUT YOUR SIGNATURE IS THERE FOR ALL TO SEE..............hello - what kind of dumb admission is that? -
Friday, 21 March 2014
PS
OMG just opened another one from BOQ where I have a saving a/c still with what must be almost a nil balance for that all got dried up trying to save my home over the long tortuos 18 months I had to endure from go to whoa before being forced to let it go to avoid the start of foreclosure proceedings. This one is dated 3 March advising that effective on 12 March (9 days ago before ariving in today's mail) there will be Federal Government imposed changes to the existing Australian privacy laws AND......we are also required to notify you that in certain circumstances we may disclose your personal information to recipients located outside Australia in countries including The Philippines, India, Singapore, New Zealand and the United States of America!
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Friday, 21 March 2014
Australia is going to the pack as they say. The Government cannot be trusted. The Banks cannot be trusted. The Government Bodies ie, ASIC, FOS, COSL etc cannot be trusted. I cannot even trust my next door neighbour for he just helps himself to whatever he thinks is useful to himself. The morals today are out the window. What a sad country we live in. !!!!!!
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Friday, 21 March 2014
Heard on radio 2GB Alan Jones is after any politician in bed with miners, he'll go for their jugular when he
finds out who they are. The banks will be next hopefully.
"better news on employment, consumption and business confidence"... not in my region it's not