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.

Here’s why…

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…

1. The Banking Royal Commission’s Final Report (and the unintended consequences some of the 76 recommendations will have)
2. 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?

Today’s RBA announcement is more important than all of last year’s “business as usual” announcements… which is why Ben has dedicated more time to explaining it this time around.

Yes, the Cash Rate has remained on 1.5%.

But that’s more to this episode then just the cash rate. Why?

Because there are now more data flowing in, suggesting that over the last quarter of last year the economy appears to be in sharp decline.

In this episode, Ben explain to you why he thinks this is happening, what’s going to happen to interest rates now and where there might be a great opportunity for some.
Of course, given recent news with the Banking Royal Commission’s Final Report, he also highlights the significance of some of the 76 recommendations, and how this impacts the finance sector.

If you’d like to check out his previous commentaries, click here.

DISCLAIMER: This video is general information only and is an opinion comment by Ben Kingsley. The information contained in this video is for Australian residents only. The information does not take into account the particular investment objectives or financial situation of any potential viewer. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.

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