hello,
will go past in the morning
thankyou
robots
My old man when I showed him had the same reaction as Nun.
His only comment was
"If only I knew then what I know now!!
The irony for all those who are in the Nun Tribe is
YOU DO KNOW NOW.
Its only fear which holds you back and always will.
I really hope one day that Nun's handle changes to
MUCHWISER.
Somehow I doubt that.
we prop bulls are much smarter than the average bear.....we are not easily fooled.....
the difference between chiefs and the indians....or the queen ant and the worker ants
Its only fear which holds you back and always will.
Bankruptcy up as job losses take their toll
19th April 2009, 10:00 WST
Amid rising debt and unemployment, the number of filings for personal bankruptcy is just shy of a record, a government agency says.
Personal bankruptcies have risen to 7164 for the March quarter, a report from the Insolvency and Trustee Service of Australia shows.
The number is just five fewer than the record number of personal bankruptcies of 7169, in June 2001.
The March quarter 2009 figure represents a 7.75 per cent rise from the 6649 bankruptcies lodged in the December quarter and is up 13.66 per cent from the March quarter last year.
ITSA executive director Peter Lowe said 85 per cent of bankruptcies were from consumers who had lost employment or could not manage credit debt levels.
“The causes that people give on the consumer side of our ledger are loss of income or employment, people moving between jobs and all those factors, or inability to manage their credit levels," Mr Lowe said.
“They’re the two biggies.”
“Consumer bankruptcies are well over 85 per cent of all bankruptcies."
Total personal insolvency activity including debt agreements and bankruptcy rose to 9300, an increase of 18.25 per cent, compared with 7865 for the same period in 2007-08.
Mr Lowe said a growing proportion of people were entering into voluntary debt agreements, rather than being declared bankrupt.
The ITSA report showed that in 2008, 2055 people entered debt agreements, an increase of 36 per cent from 2007-08.
“The bulk of individuals in financial difficulty voluntarily go bankrupt,” Mr Lowe said.
“One way of capturing a picture of this is to look at the activity happening under the Bankruptcy Act.
“A growing proportion of people are taking the initiative and repaying a substantial proportion of their debt.”
Hall Chadwick Accountants and Business Advisers partner Paul Leroy said the increase in the number of debt agreements demonstrated the serious nature of personal insolvency.
“This situation is very serious and it is clear that despite the latest interest rate cut and government attempts to kick-start the economy, personal debt and insolvency are still running high,” he said.
“Consumers who are in difficulty are relying more and more on credit to cover day-to-day costs. Something has to happen; consumers can’t continue to sustain these current debt levels without long-term consequences.”
A survey by St George Bank this week found that 35 per cent of respondents planned to use the one-off Federal Government bonus of as much as $900 to pay down their credit cards and personal debt.
SYDNEY
AAP
Do you really believe that prices are going to BOOM within the next 6~12 months with rapidly rising unemployment, tightening of lending criteria by the banks, etc? Are houses about to suddenly disappear into thin air and will become an even more "valuable" commodity???
First-home buyers swamping banks
LENDERS are struggling to keep pace with an unexpected increase in applications from first-home buyers, taking as long as a month to approve loans, which has led to some buyers missing settlement dates.
A spokesman for the Commonwealth Bank, Steve Batten, said the bank had also taken on extra staff in its mortgage processing division. .
He said about half of all applications received by the bank for the first-home buyers grant in NSW required "a rework" because of insufficient or incorrect information provided on the forms, adding to delays. The figure was 90 per cent in Queensland.
It's the forever negative property bears that will ultimately miss out on any up turn in the property market as they will never buy unless they see prices fall 40%+ - which will never happen.
Cheers,
Beej
some of you might like to read the book....A fortunate life...by A B Facey...
he taught himself to read and write...went to war....lived through the depression etc...and was pretty happy with his life....
cheers
:sheep:
MELBOURNE'S auctions bounced back after Easter with a 79 per cent clearance rate reminiscent of boom times, but agents suggested prices and clearances were being kept high by low stock.
Mr Fisher said March had been his agency's "best month in seven years" and April was looking fantastic.
"We've had quite a few buyers in that $700,000 to $1 million price range," he said. Obviously, the first-home buyers are out there, but the people who've sold to first-home buyers are now out looking themselves."
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