Most Americans find themselves amid unsecured debts which could arise out of credit cards, payday loans or even diverting money saved for post retirement life to meet current financial obligations. Some others may even find themselves at the receiving end because having co-signed a loan for a family member. But it is imperative for borrowers to remember that all this is at a precarious cost. In case you have been already swamped by excessive unsecured credit card or other bill debts, it is still worthwhile for you to avail non-profit consumer credit counseling facilities which could help you to manage your debts and finances much better before they assume further alarming proportions and start affecting your already sagging credit scores, thereby making your financial life a nightmare hard to deal with phenomenon.

Typically, free non profit credit counseling services provide the much desired financial education to credit card borrowers. And that begins with formulation of workable monthly budgets. Striking out an amicable balance between monthly income and expenses is the key to forming a blueprint for you way to debt freedom.

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Retailers reported slower sales in May, but don’t feel too bad for the sector. Sales at various chain stores were still up slightly from a year ago and analysts are predicting good things for the consumer discretionary sector this year.

One analyst at Goldman Sachs recommends a “full speed ahead” on consumer discretionary, reports Brendan Conway for The Wall Street Journal.

The analyst feels especially bullish on Macy’s (NYSE: ) and other domestic department stores, citing a broad sell-off as a result of the European debt crisis. All in all, retail may have been unfairly singled out as investors unloaded, the analyst says. []

Surprise, surprise: One sector that is expected to outperform in the long run this year is the luxury retail class. An analyst claims that the sector would outperform the MSCI World index this year thanks to strong demand from Chinese buyers, recovery in the United States and the weaker euro, reports Astrid Wendlandt for Reuters.

Watches and spirits sales will also get a boost, analysts say. And after a lagging 2009, one of the worst years on record, it could be a welcome turn of events. [.]

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As a result of Australia’s prudent fiscal policies, the OECD Economic Outlook recently put Australia’s economic growth and employment outlook in the limelight. Burgeoning demand from Asia for resources may help Australia’s exchange traded fund (ETF) weather the current market turbulence.

The Organization Economic Co-operation and Development’s (OECD) report highlighted Australia’s strong economic management in fighting off the global recession and its ability to return the budget to surplus three years ahead of scheduling and halving peak debt, according to eGov Monitor.

The OECD has revised upward Australia’s growth forecasts to grow by 3.2% in 2010 and 3.6% in 2011 – OECD area as a whole is estimated to grow 2.7% in 2010 and 2.8% in 2011. The group projects Australia’s unemployment rate will decrease to 4.8% by the end of 2011, as compared to 8% for the whole of the OECD area.

The OECD also added that “companies in the mining sector should benefit in particular from the dynamism of Asian markets and the significant pick-up in the terms of trade.” []

The Australian index of leading economic indicators inched up 0.9% in March to 260.9, or an annualized rate of 8.7%, reports Jacob Greber for BusinessWeek. The coincident inde

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Coal prices in China, the world’s largest producer and consumer of coal, are resuming their climb as coal-fired plants renew their depleted reserves. The anticipated higher summer demand may push coal usage upward and exchange traded funds (ETFs) may move right along with it.

In anticipation of the peak summer demand, users have begun to build up stockpiles, sending coal prices higher in some parts of the world, reports Baizhen Chua for BusinessWeek.  []

A six-month-long drought in southwest China cut hydropower generation and upped demand for coal-fired plants, prompting China to start building up reserves again. One X factor, though, could be China’s cooling demand for steel, which has analysts wondering if it’s a sign of a slowing market or just a temporary step back. []

Between March 19 and April 30, inventories at Qinhuangdao, the country’s largest port for coal, plunged 44%. The eastern province of Shandong has also ordered plants to increase stockpiles to 30 days of consumption from 15 days before summer.

The Union of Concerned Scientists say 11 “coal states” in the U.S. are spending

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