Corelogics Tim Lawless correctly points out in my view: “this may seem counter intuitive, given high interest rates, deeply pessimistic levels of consumer sentiment and high cost of living pressures, however can be explained by an imbalance between supply and demand.”

By March 2023, Australia’s annual population growth hit 2.17% the highest rate since 2008. Net overseas migration hit record highs with 454,000 people added in the past 12 months. Serious demand!

Inflation:

Australia’s inflation rate allegedly fell to 5.4% year-on-year in the third quarter of 2023, down from 6% in the previous period. I'm betting inflation will accelerate in 2024.

Interest Rates:

The Reserve Bank of Australia increased the official cash rate to 4.35% on Melbourne Cup day, with another 0.25% increase.
But just listen to their reasoning on this:

“Furthermore, members noted growing signs of a mindset among businesses that any cost increase could be passed onto consumers. If sustained, this would contribute to higher inflation”.

Ummm, so what’s the alternative for small business owners here? To not pass on cost increases and slowly go broke?

Can you see how insidious this is. They’re constructing the narrative that business owners are the cause of inflation. When in reality, the RBA is the cause of inflation.

Thankfully, self-educated people realise inflation is a hidden tax on both your savings and cost of living. Like inflating a tire is caused by pumping in more air, inflation as a cost of living is primarily caused by an expansion in the currency supply.

They print it (or borrow it) out of thin air, thus devaluing what was already in supply. This makes the RBA in my opinion, the most evil and destructive organisation in the country. The sooner it is deleted, the better. This article says it is bust anyway.

But it gets better.
The Swedish Central Bank is also insolvent and needs a bail out.
The Swiss National Bank suffered a first half loss of USD$98.7B.
The Federal Reserve in the US has suffered both capital and operating losses for the past couple of years and is also insolvent on a mark to market basis.

With bail in laws alive and well i Australia I've advocated for holding physical hard assets like Gold and Silver for many years and now so more than ever.

And remember in Q1 newsletter this year, I spoke about bank collapses. First there was the four major US banks that went under, and then in the bastion of 'safe banking' - Switzerland, its second largest bank, Credit Suisse, collapsed soon after in just seven days.

Well, now the bank that acquired them, UBS’s CEO Sergio Ermotti last week made comment that in the unlikely event of something going wrong at UBS, ‘a private buyer would continue to be preferable’. What does he know that he is not saying? Surprisingly, the media has been silent on this, but I think we'll find out very soon.

I think 2024 is going to be a year of biblical proportions economically.

And it already is for two thirds of Australia's fixed interest rate home loan owners, whose low fixed interest rates expired this year. They’ve been forced into higher variable rates. To give you an idea, holders of a $750K mortgage loan will roughly have to find an extra $15K per annum, to service their home loan!

Crypto:

Bitcoin has again been the best performing asset of the year.
Starting at USD$16,547 on January 1, it now sits at USD$37,987. That’s incredible!

With the next halving event due in April 2024 and the World’s largest asset management funds all waiting on SEC approval of a Bitcoin ETF, it could easily double or even 10x in the next year.

Finally

And now I wish to speak to the learning on new skills. It’s the topic of my success tip video below, as well as the book of the month. Because based on where things are at and where I see them going in 2024, I think most people are going to have to learn some new skills, fast.

Sadly, because of the way we were conditioned at school, most people dread having to learn new skills. I should know, I took up Salsa and Bachata dancing several years ago!

But soon most people will be forced to, as the world is in for massive disruption in the year ahead in my opinion.

In addition to volatile financial upheaval, the greatest disruptor I see is the wide-spread impact of Artificial Intelligence or A.I.

This will significantly impact most peoples businesses and jobs at a minimum, and will outright eliminate them at worst.

However, for those that get in right now and master it, A.I. is the single biggest opportunity I see for the average man or woman to make money.

I’ll be bringing you a lot more on this is the coming weeks, though for now I wish to introduce you to our new expert, Chris Jeong and recommend you watch his success tip video below.