Just glanced at the front page of the Austalian Financial Review and the big financial news stories are: 1. ASIC gets tougher on disclosure 2. Oldies' super at risk 3. LNP might raise taxes to fix debt 4. Gillard seals Greens mining tax deal 5. Seven ups the ante in TV ratings war 4 out of 5 leading stories are about the government, 2 out of 5 are about new taxes, 1 is about governments selling bonds and one is about corporate competition in the TV industry. Story 2. Story 3. Story 4. Sigh.
Don't be despondent. That is why we are on this site. To be forewarned is to be forearmed. Keep stacking and be the master of your own destiny. Kind Regards non recourse
Story 2 is interesting...and I think it affects 90% of Australians not just oldies. The fund managers have had horrible performance in everything but cash fixed interest for the fund I'm with. Stocks were down 6%, property down 2%, diversified down 5% (wtf?), cash up 2%, fixed TDs up 5.5%. There were a few more options like high growth etc, they all went down. Wouldn't trust these fund managers to trade equities or invest in REITs for me, either I do it myself via SMSF or it's cash until I have time to set one up.
Just changed my allocation to 70-80% cash with only a small exposure in equities. For the time being at least.
Story 2 is actually a very good point.. the love affair ppl have with shares is quite dangerous from the diversifiaction point of view..
yea i just changed mine last year to 100% cash which hesta aims for i think 4%.WTF I can walk int to a bank down the street and get better than that except the gubment doesnt wanna make it easy for me to do that.They know whats best for me I suppose.At least Im not going to lose...only through inflation
:lol: we're not the master of anything. All we are doing is trying to keep one step ahead of Them, while hoping They fail in their totalitarian objectives before getting around to sending out goons with guns to knock on our doors and take what they haven't already. Geez, you can't even own your own home in this country but have to pay rent to an illegitimate form of government (local). [I would like to be proven wrong in this point. Can you have allodial title over land in Australia?] We may be masters in our own mind, but not in anything material. They can wipe you out with a change of law and turn us all into Australia's most wanted with a PR campaign. The MRRT and the campaign against the mining entrepreneurs is a case in point, see story 4. Even governments yet to be elected are forming up plans to increase taxes on the resource sector, Story 3. If I was a gambling man I would take bets on Swan announcing minimum government bond holding requirements for Superannuation funds in the next budget, re Story 2, right along side the CO2 tax and the MRR Tax. Or maybe your right about me being too despondent and I need a little soma (Brave New World reference) to pick me up. Ahh, that's better. Aren't we fortunate that Mr. Swan is the best Treasurer on the planet! Goodness me, I am blessed the government exists to take care of me and my interests. How can I help, Mr. Swan? Hand over my gold, buy some bonds, pay a tax for exhaling CO2? I'm ready to serve you.
Allodial titles only exist in France and some of the U.S. states. As for the labour clowns this Weekend to will see another instalment of the Labour goons going down. The Federal mumpets turn is coming. Having said that I have no faith in the Liberals either. God help us if Turnbull got in, another wall street flunky. Not all is lost. More and more people have started to wake up to the carbon hoax and fractitional reserve banking/fiat money nonsense. Just when you think the pendulum has gone one way it will swing back. All governments cheat and lie by debasing the currency. The Federal reserve expanded the money supply in the 1920's and then squeezed the tap off in 1929, combined with the incompetent government actions like the Smoot - Hawley Tariff bill it well and truely rooted the world. Nothing has changed with those clowns they are still #ucking up. Here in Australia our reserve bank is determined to destroy small business with their interest rate nonsense. What has changed is their lies and bullshit is exposed to anyone interested via the internet. The more people that realise you don't have to follow those nitwits the more desperate they will become. Look around the world more and more people are telling their governments "you assholes" we're not doing that. You don't need guns just millions/billions of pissed off people. Governments and their flunkies are cowards. In the past they could keep people ignorant. There are potentially millions of Jullian Assanges. Our so called privacy laws and all the red tape has most people so fed up with authority it is palpable. We all know what they are up to. It won't be 1984 that they will achieve. Kind Regards non recourse
^ Nice rant. At the end of the day govt is just an ancient (dare I say barberous?) relic. Something that belongs in a less civilized age.
Privacy laws are really secrecy laws to protect the bs that goes on behind closed doors. The system is a playground for corporate psychopaths to get away with financial fraud on a daily basis and that's just how they like it. http://www.brisbanetimes.com.au/nat...keeps-fraud-cases-private-20110923-1kpdr.html http://www.brisbanetimes.com.au/national/fraud-probe-targets-top-bureaucrats-20110918-1kg6c.html http://www.brisbanetimes.com.au/nat...s-dog-foreign-bureaucrats-20110923-1kpc7.html
I honestly don't think about my super or even consider it as apart of my portfolio. At 23 years young, I very much doubt it'll be there waiting for me in any meaningful way by the time i hit 65 years of age. Things change a lot in time, i'm just glad i'm financially aware and have began building my own retirement fund ie precious metals and other investments
I wish I had the foresight to buy Gold/Silver when I was 23, I'd be a very wealthy man. Still I did have a good time :/