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The stimulus will soon be over. We now have to live in hope

Posted by James Cagney on 16 November 2020
Now that the government has reduced the JobSeeker  and JobKeeper payments and due to end 30 March 2021 many Australians are going to find it hard to meet debt repayments. This sad situation does not only affect the recipients of JobSeeker and JobKeeper it will have dire consequences on the rest of the economy. Do not think for a moment that this will not personally affect you and your family financially. 

Three ways to increase money flow and spending through the economy is:

1) Reduce interest rates and we now are at a unprecedented 0.1% cash rate which is dangerously low because of deflation.

2) Stimulate the economy through grants, hand outs, welfare and reduced taxes.

3) Infrastructure spending which is slow to get off the ground because of bureaucratic red tape.

I am not too hopeful that the government  has much more left in the tank to do more than what they have done already. We are heading towards a $1 trillion budget deficit in 2021 i.e. $1,000,000,000,000 or one thousand million is a billion and one thousand billion is a trillion. That is huge considering that just over a year ago it was half that amount. We need to prepared for the worst, pray for the best and expect the unexpected. 

We will cover more on this during our Webinar on Wednesday 25th November 2020 at 7.00pm AEST / QLD time or 8.00pm ADST /  NSW/ / VIC. . Make a commitment to attend this webinar to get the knowledge you need to secure your family's future in the uncertain times ahead. Please put this date in your diary NOW. This is too important to miss. 

The link to the webinar is:

https://aw170e76.aweb.page/p/71fd7c40-9535-450a-9a76-55f6020f3c97

The webinar is one hour. Looking forward to seeing you on the webinar.  

Sincerely
James Cagney
james@integrityfinancenetwork.com.au

Author: James Cagney
Tags: Protect your assets and reduce your debts Protect your Assets (2)
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