But despite that warning, and despite debt far in excess of their incomes, Aussies are STILL spending money like it’s going out of fashion.
November 11th, 2009 | Kris Sayce | 3 comments | ContinuedAll Posts Tagged With: "superannuation"
World of Super Collides With World of Credit Crunch
Meanwhile, mischief is still afoot in the world of superannuation. Australian super assets under management exceed $1.2 trillion. That’s the fourth largest pool of investable savings in the Western world.
November 11th, 2009 | Dan Denning | 1 comment | Continued
Attention Dr. Ken Henry: Government Could Make Employee Voluntary Contributions Compulsory
Maybe she didn’t support an effective 30% compulsory super contribution after all. Time for some humble pie we thought.
And then we ‘un-thought’ the idea of eating some humble pie.
It seems that rather than coming to the wrong conclusion, instead we made a schoolboy error by quoting the wrong part of the submission.
September 24th, 2009 | Kris Sayce | 24 comments | Continued
Proposals Inviting Government to Take Money from You and Give it to Someone Else
Look, there’s nothing wrong with looking for the perfect solution to something, we try to do that all the time. There is one difference though. We favour getting rid of regulations, taxation and compulsion and letting free enterprise and dare we say it, the individual make their own choices.
September 23rd, 2009 | Kris Sayce | 23 comments | Continued
This Reflation is Not Yet a Monster Hyper-inflation
The market begins the month of August trying to prove that the Great Recession is over and the earnings recovery has begun. On Friday, US GDP data came out and seemed to confirm that just maybe the worst is behind us. According to the cryptic figures, US GDP is shrinking at annualised pace of just 1% – considerably less than the 6.4% from late last year.
August 3rd, 2009 | Dan Denning | 0 comments | Continued
Fed Announced it Would Buy up to $300 Billion in Treasury Bonds
Stock action on Wall Street was mostly directionless. Stocks have opened lower here in Australia. But all the juicy action is in the bond market, where the Fed is getting its hands dirty again. You wouldn’t think the Fed would have to come in and support bond prices with investors wringing their hands about global growth. But the numbers tell another story.
July 7th, 2009 | Dan Denning | 4 comments | Continued
U.S. House of Representatives Passes Climate Change Bill
If the Senate bill is different than the House bill (and it almost always is, given the different agendas in both bodies and the need for more bribes), the two bills go to “reconciliation.” That’s where a committee made of members from both houses settles on a final compromise version of the two bills and sends them back to their respective bodies to be voted on. Then it gets sent to the President to become the law of the land.
June 30th, 2009 | Dan Denning | 21 comments | Continued
Superannuation Raiding Party Being Formed II
Super funds represent a pool of capital the government doesn’t have to borrow on the international bond market. Of course, technically the super money is your money. But if Henry is up to what we think he’s up to, your money could soon be financing government-backed infrastructure projects or participating in corporate bond auctions. You can imagine the super industry would do these things anyway, if they seemed like good investments…
June 15th, 2009 | Dan Denning | 10 comments | Continued
Superannuation Raiding Party Being Formed
For the superannuation industry, the bigger problem is that the generational bull market in stocks is over. There are still sectors and industries that will do quite well and that fund managers can profit from. But finding them and managing to get capital into them at attractive prices is going to be a lot harder. People might actually have to work for a living and even think, rather than just clipping tickets and surfing a bull market higher…
June 12th, 2009 | Dan Denning | 48 comments | Continued
Is Kevin Rudd Planning to Steal Your Superannuation and Bankrupt Your Retirement?
Is Kevin Rudd coming for YOUR retirement cash? The next logical step is for the government to grab the superannuation balances of all working Australians. Read on…
May 19th, 2009 | Kris Sayce | 33 comments | Continued