Money Matters: Navigating Credit, Debt & Financial Freedom is the new book by Robert Sudha Hamilton designed to help people everywhere. Understanding the consumer credit system and the laws that govern it is an essential prerequisite in the 21C if individuals are going to survive and thrive. Too many of us are fighting blind in an economy set up to favour some sections of society at the expense of others. There are comparisons between China’s social credit system and the West’s consumer credit reporting system. Money matters and determines the score in the game of life, as far as our financial institutions are concerned. In this new book by SpeakTruth on money, credit and financial freedom the reader gets to investigate banking, credit, debt, and the rules of the financial game.
Money Matters By Robert Sudha Hamilton New Release Book
Ignorance by the populace, when it comes to the economy and the credit system, allows for institutional bias to continue and a growing wealth divide in Australia. The so-called lucky country is fast becoming one of the most inequitable nations on earth. The concept of a ‘fair go’ used to be an Australian byword but now is a bad joke in 2023. The rich are getting much richer and the working poor are a growing demographic. The rampant inflation in the domestic property market is a runaway train turning this country into a disaster zone for future generations.
Credit, Debt & Financial Freedom Matters Now More Than Ever
One of the primary reasons credit and debt are important is that they allow individuals and businesses to make investments that would otherwise be out of reach. Credit and debt also play a critical role in the housing market. Most people cannot afford to buy a house outright, so they must take out a mortgage. The ability to obtain a mortgage makes it possible for people to become homeowners and invest in their future. The housing market dominates most domestic economies in the West. Central banks, however, do not include this highly inflated market in our main inflation rate.
Inflation in the residential property marker in Australia over the last 30 years is around 382%. This market has been on steroids. The big four banks have had their bottom lines pumped up by billions on the back of this tsunami of speculative investment.
Take control of your finances by understanding the consumer credit system.
“He said in Australia, a high and increasing proportion of income had been emanating from rent‐heavy sectors, especially mining, but also urban real estate, information technology, financial services, media and large‐scale retailing. “Profits of mining, with economic rent contributing a considerable proportion, were larger than the whole of the rest of the economy in the final quarter of last year, the latest data available,” he said.”
- (Ross Garnaut in Gareth Hutchens, ABC News, 6 May 2023)
However, an increase in the money supply can also lead to inflation if the supply of goods and services does not keep up with the increase in the money supply. This can lead to a decrease in the purchasing power of money and an increase in prices. We have seen this in the post-pandemic period with high inflation plaguing global economies after supply side shocks and governments pumping money into their economies via welfare payments and business subsidies. Central banks, which are responsible for managing the money supply, use monetary policy to control inflation by raising or dropping interest rates on the cash rate. Quantitative easing and quantitative tightening are, also, applied to ensure that the money supply grows at a sustainable rate or is reduced depending upon the state of play within the economy.