Folks, while we’d love to bring you GOOD news all the time, unfortunately, some things — like the economy! — are simply out of our hands 🙁
So if you heard from us this morning because you receive our VIP emails (download the free chapter of Make Money Simple Again if want to be a part of our tribe), then you’ll know that the economy in not looking…… ahh…… too crash hot.
As we’ll soon explain, there’s quite a few reasons why the Australian economy’s underperforming — but here’s the TOP TWO big things we are unpacking to tackle today’s episode…
- The Banking Royal Commission’s Final Report (and the unintended consequences some of the 76 recommendations will have)
- Governor Lowe and the Reserve Bank of Australia (RBA)’s latest cash rate and commentary
If you’re not familiar with some of the things we refer to in today’s episode, here’s a rundown of the resources and commentary we refer too…
- Article with MFAA CEO Mike Felton: Customers pay while the big banks profit
- Deloitte Report: The Value of Mortgage Broking – Assessing the industry’s role in the economy
- National Press Club Address on ABC iView (Governor Lowe’s National Press Conference)
- Governor Lowe’s written address
- Ben’s RBA Feb 2019 Announcement
- Keep Competition Alive
And the Less-Serious Stuff…
- Join our Money S.M.A.R.T.S Platform (“The Great Surplus Challenge” will be added VERY soon – but only for members!)
- MMSA Facebook Group
- Ben’s Did You Know book
Here are the highlights…
- What are the warning signs that our economy is in trouble?
- What do we think about the Royal Commission’s Final Report?
- What are some of the recommendations?
- What is the commentary coming out?
- What are we seeing with the cost of funding?
- What’s the REAL job of a Mortgage Broker?
- Why is competition in the lending environment so important?
- Was there a systemic risk with mortgage brokers?
- What are the responsible lending guidelines that exist at the moment?
- Was the prevalence of brokers doing the wrong thing systemic?
- Why is this a now delicate situation?
- Realistically, will people pay for mortgage broking service?
- What % of people are actually HAPPY with their mortgage broker?
- How much do brokers get paid?
- What is the “Big Four” response to this?
- What happened when this was adopted in New Zealand?
- How much is the trail commission fee vs. how much banks receive?
- What did Governor Lowe say in his Press Conference?
- Why was the property market correction “inevitable”?
- How important is psychology in house prices?
- Is it a “manageable” correction?
- What does Governor Lowe say about house prices?
- Will we see more decline in Sydney?
- How many market corrections has Ben seen?
- Will we end up in a recession?