How To Find Your Unclaimed Money

November 23, 2008 by · 4 Comments
Filed under: Business, Finance and Investment 

Unclaimed Money - $100 Bills

In the aftermath of a global financial crisis, people are having to make greater efforts to make ends meet and support their families. People are working extra hours, reducing their household spending to improve their cashflow and selling things to reduce debt.

But I am sure that many people would be struggling a whole lot less if they found and retrieved their unclaimed money! In Australia alone, over $500 million dollars in unclaimed money is being held in trust by ASIC and other government bodies.

This article explains where unclaimed money comes from and tips of searching and retrieving money that you may own.
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New Appearance

November 18, 2008 by · Leave a Comment
Filed under: Announcements 

You may have noticed that the appearance of the blog has changed – I am testing new themes for Here’s Trouble, as I was never fond of the default ‘Kubrick theme’ that comes with WordPress. This current one is a 3-column theme called ‘Revolution Code Blue’ by Brian Gardner.

What do you think ot this theme ? Please leave a comment here or on the contact page.

Women Falsely Claiming Paternity Benefits

The Child Support Assessment Act was recently amended to allow men who have been falsely paying child support payments to apply to recover their money. This has generated much controversy:

Paternity Tests Prove Hundreds of Men Duped

SMS after DNA test: You’re not the father

Australian men’s group seeks tests before child support

There is no doubt that the decision of a man and a women to have intercourse requires considerable understanding of the potential consequences.

The obligation of a father to financially support his child is clearly established in law. The retired tennis champion, Boris Becker, learnt this valuable lesson after being forced to pay millions of dollars for a child conceived during a brief liaison with a waitress in a restaurant broom closet in 1999.

Similarly, the responsibility of the woman to be truthful about her relationships is equally serious.  A women knows exactly whom she has slept with and would certainly know if there is any doubt about paternity.

To extract money out of an innocent person by making false claims of paternity is a very serious matter which also has serious consequences on the other party, both psychological and financial

  • It is a gross betrayal of trust
  • It is traumatic for the man and the child. The man may have formed a close emotional bond to a child, only to find out that he is not the father
  • A man may be deprived of his livelihood for almost two decades until the child reaches adulthood and becomes independent

Apparently, some feminist groups are up in arms stating that the only person that will suffer will be the child. To this, I say that the same argument could apply to a woman who obtains support money by robbing a bank or stealing from her workplace. Does this make her any less culpable for the crime? Of course not.

So not only do I fully support this reform – I feel it should be made even stronger in the following ways:

  • In the case of false paternity, child support money must be repaid WITH INTEREST to compensate for the man’s lost opportunities
  • Mandatory DNA testing of both parents and children must be performed in all custodial disputes
  • Where there has been a proven element of deception or fraud on the part of the woman who has falsely claimed child support, she should be subject to all applicable criminal law concerning fraud and theft
  • In the above case, the man should also be entitled to seek civil damages as considered appropriate for the case

What are your thoughts?

Kevin Rudd’s $6.2 Billion Auto Industry Package

November 14, 2008 by · 1 Comment
Filed under: Australian News, Australian Politics 

Australian Prime Minister Kevin Rudd announced a $6.2 billion dollar package to support the Australian Car Industry. This was after foreign owned car manufacturers announced plans to shut down local production in the wake of the global financial crisis.

$500 million of this money will be set aside for a ‘Green’ car innovation fund, to produce environmentally friendly vehicles.

The intentions of this plan are certainly noble. Australia has a proud history of automotive production. The industry employs many people who hold a lot of valuable know-how.

These are the problems I see with the plan:

1. It’s a large amount of money and it may only temporarily defer the problem. Foreign manufacturers will milk the government funds, artificially boosting their profits, then shut down the factories when the money has been exhausted.

2. Australian automotive tariffs are set to fall from 10% to 5% making it harder for our local industry to remain viable in the presence of low cost German, Japanese and Korean imports. Would we be merely sustaining an uncompetitive local industry out of pride?

Here are some possible alternatives:

1. Assist Australian entrepreneurs in buying out the local arms of these manufacturing firms, to ensure that the industry is under Australian ownership and that profits remain in this country.

Perhaps a new Australian company can focus on producing low cost, energy efficient vehicles that would offer something unique and provide a competitive edge on the market.

2. Use the money to pay for redundancies for these workers and retraining to allow them to get job in other industries where their skills can be adapted, e.g. Agricultural technology, military vehicles

What are your thoughts? Your comments are most encouraged.

Female Egyptian Lawyer Advocates Sexual Harassment of Israeli Women

November 13, 2008 by · Leave a Comment
Filed under: Middle-East Affairs 

This has to be one of the most sickening things I have see for a while:

In a media interview, a female Egyptian Lawyer, Nagla Al-Imam, recommends that Arab Men Should Sexually Harass Israeli Women, as a tactic to achieve territorial gains in the Arab-Israeli conflict. Nagla Al-Imam actually advises Arab men to tell Israeli Women that they should “leave the land so we won’t rape you”.

See the video here:

This was provided courtesy of the Middle East Media Research Institute’s TV Monitoring project, MEMRI TV, who work tirelessly to translate Middle-Eastern newspapers, radio and television broadcasts into English, so that people in the West can see what people in that part of the world truly think, and not what the cowardly mainstream media choose to report.

I say to Nagla Al-Imam and other fanatics like her: human rights are UNIVERSAL and nobody, regardless of political belief, race or religion deserves to be subject to such humiliating and degrading treatment.

Your actions will only set back the cause of Women’s rights in the Arab-Islamic world and promote hostility towards Arabs in Western countries.

I would expect prompt condemnation of her statements from Human Rights Watch and Feminists groups around the world, but I am not holding my breath.

NSW State Government – Worse than a Desperate Crack Addict?

In a predictable move, the NSW state government, led by Nathan Rees, has cancelled several major rail infrastructure projects – namely, the North West Metro and the Richmond Line duplication, which has been ‘deferred‘.

These had been promised for many years and are needed to cope with the growing population in these areas. Housing has become highly unaffordable in inner-city Sydney, so people were encouraged to move to the outer areas in the expectation that the these Government transport projects, when completed, would be able to take them to their places of employment in the inner city.

The government of course states that these projects, which they previously claimed to be ‘fully funded’, have to be abandoned due to the budget ‘black hole’ created by the financial mismanagement of the past NSW Labor governments led by Morris Iemma and Bob Carr, and the global financial crisis which has led to reduced tax revenue.

Despite having cancelled these projects, the NSW government is desperate for cold hard cash and is prepared to sell all the public assets they can at any price. The latest assets up for sale are the electricity retailers, NSW Lotteries and Waste Services NSW. These are all profitable and income-generating.

One major reason cited by the state government for refusing to borrow money for infrastructure is that they want to maintain their ‘AAA’ credit rating. Correct me if I’m wrong, but isn’t the whole purpose of having credit ratings in the first place to allow reliable borrowers to obtain loans on good terms?

Now is the perfect time for the government to spend borrowed money. NSW is in recession and the economy needs to be stimulated – capital works projects have been historically effective in these situations.

Reviving the cancelled infrastructure projects will remove bottlenecks and lead to increased taxation revenue and economic growth. As we are are now in a higher inflation environment, the net present value of future loan payments will keep falling, reducing the future costs of servicing these loans.

Furthermore, keeping those public assets will ensure that their income is retained, and this income will of course reduce the burden of loan repayments.

Barack Obama wins US 2008 Presidential Election

I’m sure it came as no surprise to many that the Democratic candidate Barack Obama, defeated his Republican opponent, John McCain in the US general elections last week.

As an outsider I will make the following comments:

It appears that McCain’s faux pas was having Sarah Palin as his running mate. In my opinion, the Republican’s decision to have a female vice president was a gimmick needed to counter the Democrat’s choice of a black president, i.e. promoting the emancipation of black people vs promoting the emancipation of women. Unfortunately, the Republicans did not appear to choose a suitably qualified person and Palin quickly became an object of ridicule in the media.

Considering the current financial crisis and ongoing international conflicts, the incumbent party would have needed to make a superhuman effort to retain power – that made things easier for the Democrats.

I do hope that Barack Obama will prove to be a good leader and not just the outcome of an ‘affirmative action’ mindset.

My concerns at the moment are that the new Government will go soft on fighting religious fundamentalism and preventing the nuclear arming of fanatical regimes like Iran. Russia and China may continue to gain power and influence, unhindered by US intervention.

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