{"id":90052,"date":"2022-04-10T10:08:35","date_gmt":"2022-04-10T10:08:35","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=90052"},"modified":"2022-04-10T10:08:35","modified_gmt":"2022-04-10T10:08:35","slug":"noel-news-29","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/noel-news-29\/","title":{"rendered":"Noel News"},"content":{"rendered":"<h1 style=\"text-align: center;\"><strong><span style=\"font-size: 24px; color: #000000;\">Noel News<\/span><\/strong><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90053\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-1-e1649577761942.jpg\" alt=\"Noel News\" width=\"600\" height=\"450\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Do not regret growing older.<\/em><i><br \/>\n<em>It is a privilege denied to many.<\/em><\/i><\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"font-size: 20px; color: #993300;\">Welcome to another newsletter<\/span><\/strong><br \/>\n<span style=\"font-size: 16px; color: #000000;\">It was always going to be an election budget, and there were some good things in it. But the cash handouts are fiscal irresponsibility at its worst. Think about it: the Treasurer revealed that there would be a deficit of $78 billion in the forthcoming 12 months. This is money we, as a nation, have to borrow.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">One of the first rules of good money management is to avoid bad debt, and use good debt. Bad debt is when we borrow for consumption, such as travel, clothing, or a wedding, and good debt is when we borrow for assets such as property and shares, which will provide lasting benefit. I have no problem whatsoever with government borrowing for roads, infrastructure and other items that have a long-term payback, but I see no point in cash handouts for the sole purpose of getting the government back into power.<\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90054\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-2-e1649577953249.png\" alt=\"Noel News\" width=\"600\" height=\"369\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Take the decision to cut petrol excise by 22c a litre. Petrol accounts for no more than 4% of most household budgets but it\u2019s the one that is always in the news, and thanks to huge signs everywhere, is the\u00a0 one commodity for which everyone knows the exact price. The price of petrol can generate strong emotions but there are ways to reduce the cost of it. The major motoring organisations have associations with petrol stations to provide a discount of between four and five cents a litre. And there are apps such as the 7 Eleven fuel app, which lets you lock in today\u2019s fuel price for the next seven days with no penalty. We\u2019ve been using it for years and have saved a bundle.<\/span><\/p>\n<p><!--more--><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90055\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-3-e1649578020513.jpg\" alt=\"Noel News\" width=\"600\" height=\"400\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Where I live, it\u2019s normal for petrol to fluctuate by 30c a litre or more over the cycle. So you can expect your 22c a litre discount to vanish in the next few cycles. Even though this measure has been announced as for six months only, the cost will be a staggering $3 billion \u2013 all borrowed. Think what you could do with $3 billion towards flood mitigation programs.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Then there is $1.5 billion used to give 6 million welfare recipients a once-only payment of $250. Let\u2019s face it, that kind of money won\u2019t change their lives one bit. Wouldn\u2019t it be better to use that kind of money to provide better dental facilities or improve aged care?<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">These are just expensive band-aids. They won\u2019t do anything to slow down inflation, which is the actual problem here. Despite the official figure of 3%, I am told the average rise in groceries and fruit and vegetables is nearer 10% \u2013 ignoring the current post-flood highs. A cash payment of $250 now, combined with six months of slightly less expensive petrol won\u2019t do a thing to change it.<\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90056\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-4-e1649578098137.jpg\" alt=\"Noel News\" width=\"600\" height=\"267\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The big issue about to be felt by most Australians is interest rates. We are in a unique position where inflation is running at more than 5%, at least in the real world, and interest rates are at historic lows. It\u2019s a virtual certainty that we\u2019ll see at least an interest rate rise of a full 1% in the coming year. Thanks to low interest rates, and rapid housing price rises, the average mortgage in Australia is now a breathtaking $600,000. A rate rise of just 1% would add $6000 a year or $115 a week to the average family\u2019s mortgage repayments. How will people cope with that?<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">There are also budget moves to help first homeowners, but the problem with all these schemes is that they drive up house prices by increasing the number of potential purchasers. And it gets worse \u2013 the government is encouraging single homebuyers to borrow on just a 2% deposit, with no mortgage insurance. In that scenario a person can buy a home costing $400,000, with starting equity of just\u00a0 $8,000. Offering home loans to couples with just 5% deposit is bad enough, to entice single people to borrow with just 2% deposit is as bad as it gets.\u00a0 At least a couple may have the income of one of them to fall back on if for some reason one of the breadwinners is unable to work. Single people don\u2019t have that luxury.<\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90057\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-5-e1649578349339.jpg\" alt=\"Noel News\" width=\"600\" height=\"400\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Think what would happen if that house falls in value by just 10% \u2013 and this is not unknown, especially in some regional areas \u2013 they are $32,000 underwater. If they\u2019re forced to sell the property because of rising interest rates they could be suffering a big capital loss. It won\u2019t affect the lender, who is covered by the government\u2019s own mortgage insurance scheme. So how does that help struggling homebuyers?<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Let\u2019s have some straight talk.\u00a0 The global financial crisis was born when President Bill Clinton instructed mortgage lenders in America to reduce lending standards so that poorer people had a chance of home ownership.\u00a0 Consequently, hundreds of thousands of Americans were lured into buying homes they couldn\u2019t afford, and most of them lost what little they had.\u00a0 That\u2019s the last thing we want to happen in Australia.<\/span><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"font-size: 24px; color: #993366;\">How to sleep better<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">In a recent Noel News, I mentioned that my son James was interviewing the world\u2019s leading sleep doctor, Dr Michael Breus.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Many of you submitted questions that Dr Breus has answered, and the episode has just gone live. It\u2019s fantastic.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">If you\u2019re having trouble sleeping, or simply want the latest science-backed tips to sleeping better, you\u2019ll love it.<\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90058\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-6-e1649578483254.png\" alt=\"Noel News\" width=\"600\" height=\"337\" \/><\/p>\n<h1><span style=\"font-size: 24px; color: #993366;\">The war in Ukraine<\/span><\/h1>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">I&#8217;d like to share this episode of the Magellan In The Know podcast:<\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/noelwhittaker.us7.list-manage.com\/track\/click?u=da9eb27efd0124961082a497a&amp;id=5714e06621&amp;e=d75f854b0e\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/noelwhittaker.us7.list-manage.com\/track\/click?u%3Dda9eb27efd0124961082a497a%26id%3D5714e06621%26e%3Dd75f854b0e&amp;source=gmail&amp;ust=1649652363311000&amp;usg=AOvVaw0IxQEX5A-6BCDKW2YgkjWv\">Episode 20: War in Europe<\/a><\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>Russia\u2019s invasion of Ukraine has sent geopolitical and economic shockwaves around the globe, creating new risks to the\u00a0investment outlook. A combination of strong western government and corporate responses has drastic implications for commodities, food security and raises the possibility that NATO nations may be drawn into a wider conflict. But as Russia\u2019s military fails to meet its objectives, what does a settlement look like, and what are the implications for a Russian president whose aspirations of a resurrected Russian empire appear to be collapsing?<\/em><\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>The participants are former US Deputy Assistant Secretary of Defence for Russia, Ukraine and Eurasia\u00a0<\/em><strong><i>Evelyn Farkas<\/i><\/strong><em>, and former Deputy Director of the CIA\u00a0<\/em><strong><i>Michael Morell<\/i><\/strong><em>\u00a0dissect and shed light on the situation with Magellan\u2019s Head of Macro and Portfolio Manager Arvid Streimann.\u00a0<\/em><\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90059\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-7-e1649578741966.jpg\" alt=\"Noel News\" width=\"600\" height=\"176\" \/><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">This is just a brilliant podcast and I can\u2019t think of any better people to be giving their views on the situation.\u00a0<\/span><\/p>\n<h1><span style=\"font-size: 24px; color: #000000;\">Scammers<\/span><\/h1>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px;\">Scammers are more active than ever, and their techniques are getting smarter and more personalised. It\u2019s rare for a day to pass in which I don\u2019t get a call from \u201cAmazon\u201d, but I\u2019ve never heard what they want to say, because I immediately hang up. And if you try to call back the number the phone call appeared to come from, a recorded message says that the number does not exist.<\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90060\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-8-e1649585005445.png\" alt=\"Noel News\" width=\"600\" height=\"274\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Last week I got an indication of how clever they are becoming. A close friend told me that her mother, Enid, had received a call from \u201cAmazon\u201d to tell her that there had been a purchase of an iPhone 11 for $900 on her account, which she needed to approve. Enid denied the purchase, so they told her they were transferring the call to the \u201cAustralian Cyber Fraud Department\u201d. The next person she spoke to told Enid that she was a victim of cyber crime, but luckily they had caught it in time, and she could help him catch the scammers. All she needed to do was open her computer and log on to a website.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Like most seniors, Enid is very trusting. She opened the website, still on the phone, but unbeknown to her it installed a program that gave the scammer access to her computer. He then instructed her to check her online bank account, which enabled him to see the balance, and gave him all the information he needed to operate on the account. Her screen then went black, and he showed her a screenshot of her bank account showing $15,000 had been deposited. It had not really been deposited, but the scammers are getting so sophisticated they can manipulate a photo of your bank account to make it look as though transactions have actually happened.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">He then claimed the scammer must still be online, and that to help catch them, Enid needed to go to her local branch and withdraw $15,000 in cash. Of course, being a law-abiding person, she was keen to help. He kept her on the phone even while she was driving to the bank, and stressed she should tell nobody about any of this. When she questioned the amount, saying the bank wouldn\u2019t let her take out that much cash, he told her to tell them it was to buy a car.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Enid fell for it, but she was getting very stressed, so fortunately she called in at her daughter\u2019s house to ask her to come to the bank with her. When her daughter, my friend, found out what was happening, she grabbed her mum\u2019s phone and asked the caller who he was. When challenged like this, he simply hung up. Enid immediately rang the bank and discovered that her daily limit of $2500 had already been transferred out of her account. Apparently, there is a slim chance this can be recovered. Luckily, Enid and her daughter were able to prevent the larger cash withdrawal from happening, and the bank also promptly blocked internet banking to prevent any further withdrawals. Later, Enid also discovered a request had been sent from her internet banking account to increase the daily limit.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Enid is an intelligent woman, but the scammers have this down to a fine art. The only defence is to be aware of it. Never accept phone calls from people you don\u2019t know.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">And there was still one more expense: the family had to pay $130 to get Enid\u2019s computer completely cleaned of malware. All in all, it was a very expensive morning.<\/span><\/p>\n<h1><span style=\"color: #993366;\"><strong><span style=\"font-size: 24px;\">And finally \u2013 some thoughts on politicians<\/span><\/strong><\/span><u><\/u><u><\/u><\/h1>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">We hang the petty thieves and appoint the great ones to public office.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Aesop, Greek slave &amp; fable author<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Those who are too smart to engage in politics are punished by being governed by those who are dumber.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Plato, ancient Greek Philosopher<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Politicians are the same all over. They promise to build a bridge even where there is no river.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Nikita Khrushchev, Russian Soviet politician<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; John Quinton, American actor\/writer<\/em><\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-90061\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/04\/Noel-News-9.jpg\" alt=\"Noel News\" width=\"685\" height=\"643\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Oscar Ameringer, &#8220;the Mark Twain of American Socialism.&#8221;<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">AND<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">The Republicans are the party that says government doesn&#8217;t work and then they get elected and prove it.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; P.J. O&#8217;Rourke, American comedian and writer.<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">I offered my opponents a deal: &#8220;if they stop telling lies about me, I will stop telling the truth about them&#8221;.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Adlai Stevenson, campaign speech, 1952..<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">A politician is a fellow who will lay down your life for his country.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Texas Guinan. 19th century American businessman<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">I have come to the conclusion that politics is too serious a matter to be left to the politicians.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Charles de Gaulle, French general &amp; politician<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Instead of giving a politician the keys to the city, it might be better to change the locks.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Doug Larson (English middle-distance runner who won gold medals at the 1924 Olympic Games in Paris , 1902-1981)<\/em><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">The problem with political jokes is they get elected.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\"><em>&#8211; Variously attributed to Will Rogers and George Bernard Shaw<\/em><\/span><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-59015 alignleft\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/03\/Noel-Whittaker.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">I hope you have enjoyed the latest edition of Noel News.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Thanks for all your kind comments. Please continue to send feedback through; it&#8217;s always appreciated and helps us to improve the newsletter.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">And don&#8217;t forget you&#8217;ll get much more regular communications from me if you follow me on twitter &#8211; @NoelWhittaker.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Noel Whittaker<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Noel News Do not regret growing older. It is a privilege denied to many. &nbsp; Welcome to another newsletter It was always going to be an election budget, and there were some good things in it. But the cash handouts are fiscal irresponsibility at its worst. Think about it: the Treasurer revealed that there would [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":90053,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[43158,29468,18893],"class_list":{"0":"post-90052","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-australian-cyber-fraud-department","9":"tag-noel-news","10":"tag-noel-whittaker","11":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Noel News<\/title>\n<meta name=\"description\" content=\"It was always going to be an election budget, and there were some good things in it. 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