Comments on: The Baddest Bank in the West http://www.dailyreckoning.com.au/the-baddest-bank-in-the-west/2009/01/15/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 10:39:45 -0600 http://wordpress.org/?v=2.8 hourly 1 By: Annie http://www.dailyreckoning.com.au/the-baddest-bank-in-the-west/2009/01/15/comment-page-1/#comment-61202 Annie Thu, 15 Jan 2009 05:26:52 +0000 http://www.dailyreckoning.com.au/?p=4791#comment-61202 I agree coffee addict. Not too long ago Argentina got its mits on private pension funds. But people still put their heads in the sand. I was talking to some workmates about superannuation and how it can't be trusted (projecting 20 years in the future is ridulous as far as I am concerned). They looked at me as if I was mad. All it takes is a little stroke of a legislative change and hey presto baby, you don't get what you thought you'd get. Politically unpallatable but nonetheless possible. When the Australian Government changed the super rules to benefit those who could put tax free dollars in there, a lot of those people have now lost a lot of that money by the dive in the share market. So much for tax free dollars, when they are all gone. Lucky I changed my super to cash before the plunge. (because I had been reading this site!! Thanks guys!!!) I'm buying a rural property and getting into food production. Everyone still has to eat. I agree coffee addict. Not too long ago Argentina got its mits on private pension funds. But people still put their heads in the sand. I was talking to some workmates about superannuation and how it can't be trusted (projecting 20 years in the future is ridulous as far as I am concerned). They looked at me as if I was mad. All it takes is a little stroke of a legislative change and hey presto baby, you don't get what you thought you'd get. Politically unpallatable but nonetheless possible.

When the Australian Government changed the super rules to benefit those who could put tax free dollars in there, a lot of those people have now lost a lot of that money by the dive in the share market. So much for tax free dollars, when they are all gone. Lucky I changed my super to cash before the plunge. (because I had been reading this site!! Thanks guys!!!)

I'm buying a rural property and getting into food production. Everyone still has to eat.

]]> By: Coffee Addict http://www.dailyreckoning.com.au/the-baddest-bank-in-the-west/2009/01/15/comment-page-1/#comment-61198 Coffee Addict Thu, 15 Jan 2009 05:11:39 +0000 http://www.dailyreckoning.com.au/?p=4791#comment-61198 Bill and colleagues. I agree that the taxation / social welfare loop is nothing a giant ponzi scheme. With the demographic tables in developed countries as they are, the services (including medical interventions) that our parents now enjoy will be completly unaffordable (to our kids) in a few years time. In such circumstances, I fully expect governments to get their mits into private superannuation & pension fund balances. Bill and colleagues.

I agree that the taxation / social welfare loop is nothing a giant ponzi scheme. With the demographic tables in developed countries as they are, the services (including medical interventions) that our parents now enjoy will be completly unaffordable (to our kids) in a few years time. In such circumstances, I fully expect governments to get their mits into private superannuation & pension fund balances.

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