Anthony Wolfenden
Anthony Wolfenden and Intertek Pty Ltd | ABN 95 001 076 697 are Authorised Representatives (1242381/
Risk Profiling Explained. Review this before seeing your Financial Adviser.
Financial Risk Profiling Explained
Hi, I'm Anthony Wolfenden, a financial advisor. In this video, I delve into risk profiling using the Andex chart for the Australian economy. The chart covers key aspects like the share market, property trusts, and bond market over 72 years. Understanding market cycles and volatility is crucial for l...
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Sent to the Treasurer today, let's see what I get back:
Mr Treasurer,
Prior to 1960 Monetary and Fiscal policies were the responsibility of the government. More recently the RBA manages the economy (money supply?) according to the press and economist and this is in conformance with most of our western trading partners.
This split has created at least two core issues that no-one seems to address or even question. If the RBA reduces money supply or the threat of inflation by raising rates and the banks proceed to raise the cost of borrowing….
1. The fight and thus stress of fighting inflation falls squarely on borrowers and not other players in the economy. Even when the borrowers are not the drivers of sticky inflation. This is an HUGE inequity surely as well as making the lever less effective and requiring the stress on borrowers to be prolonged. There are other ways of battling inflation but we never hear anything about them.
2. The money withdrawn from the economy by the banks is basically kept by the banks. It’s not collected by the government and saved, or used to reduce government debts or used for government spending and cost of living adjustments. While we are looking at perhaps a hard fought $8B surplus, the banks are withdrawing 5-10x that in lending funds above the cash rate. These are economy changing amounts of money that are not being used for that purpose.
I would be interested in hearing more about your personal or departments views on either of these topics. They weigh on my mind and those of my clients.
Kind Regards,
Anthony Wolfenden
Authorised Financial Planner 1242381
Intertek Pty Ltd ABN 95 001 076 697
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