By Desmond Elliott

23/11/2012 – A growing number of Australians are struggling to repay home loans, credit cards and personal loans, the Financial Ombudsman Service (FOS) annual review has found. Courtesy Industry Search.com

When we seek the answers to this dilemma  we ask the question? “When before in the two hundred year history of our wonderful country has it been stripped, raped and shoved in to so much debt in such a short space in time”. What is the reason for this, how can this happen, we have computers and smart economists. Don’t blame it all on Jul-liar (she was incompetent to begin with) the answer is across the seas.

Always remember there will always be the same amount of wealth (Note: I did not say money, anyone can physically make money), the wealth just changes hands, moves from one bank to another (your mortgage is their wealth, you don’t own your house). Unfortunately the system is designed on a lending system that is controlled by interest rates (the stroke of a pen dictates the rise and fall of the world economy). Not by our local banks they are only the messengers. The World Bank, The Federal Reserve; where governments and states borrow the money to keep the economies chugging along. The money lenders contribute nothing (they print money out of need  and greed – nothing to do with wealth) to any country or society. To repay these loans a country must generate tax to guarantee repayment of the loans; their income – our demise – we are slaves and they chains are getting heavier!.

It is not the cost of doing business or anything to do with earning money causing our financial problems, the money system is designed so we must work harder and harder to just keep our heads above the debt…using computers they have a a finely tuned machine. If you think back to 1980, it took 1.15 people to feed, cloth, educate a family with 2-3 children, buy a house and maintain a car. Today with all the “wizbang” technology, everything is “virtually” cheaper (on the surface), but it now takes 1.95 – 2.15 people to achieve the same goal, with the additional burden of a larger mortgage and less residual wealth. If you study the tax system in this country, the tax on commodities we all use to survive – you will note we are getting more money but the taxes have risen disproportionately to enormous levels. Take a look around us, the infrastructure is fast deteriorating around us, roads through the suburbs and the highways, as a country we are going backward. Australia’s wealth is moving offshore. The taxes we pay do not stay in Australia, the majority of our wealth goes straight into the pockets of the International banking cartels.

Call it conspiracy, call it what you like – maybe, just maybe the devaluation of the “baby boomers” superannuation coincided with the GFC, “Was it engineered?”. Maybe, just maybe this failure was engineered to reel the “baby boomers” back, too much wealth in the hands of too many people!.  Cynical, maybe but it was coincidence, and WOW! the timing was impeccable.

The Global Warming pitch was wonderfully timed to develop a Carbon Tax so everyone pays tax on breathing too. What a brilliant method of controlling the masses; now at the stroke of a pen those in control of the Carbon Tax will control the world economy and regulate the living standard of everyone on the planet….and that aside from any “good” the reduction in carbon might contribute to our future survival. I rest my case!!

How do we turn this rudderless ship around? Simple, we learn to live within our means, say no to holidays and credit cards…starve the banks into submission by not paying interest (if you don’t use credit cards or personal loans they don’t get interest), use your money – not credit. We take command of our lives…it will take a lot of will. Think about this seriously, we bred smart people before this all went screaming out of control, we can do it all again if we have the will.

A commentator wrote recently, “Take a country like the Philippines, even though the country is not wealthy, it maintains a growth rate of 8-9% despite the GFC. Why, because it does nor borrow money from America or overseas because it lacks the economic (tax) structure to repay the loans”…beyond aid they do it tough and they do it on their own, Filipinos may not be wealthy but what they have, they own…no mortgage, no debit. Who are the winners…the jury will not be out for long! Let’s all think about this…… Now where are the Scissors and the Credit Cards?

Please note: The views and opinions expressed above are those of the contributor and do not necessarily reflect those of the publisher; www.theissue.com.au