red baron wrote on Apr 21
st, 2014 at 7:11pm:
Well this has to be the 'wank' thread of the week.
Here's something, Australia is a bright, vibrant young Country it's citizens capable of great effort and achievement.
We are a resilient and innovative people with a great future in front of us.
Don't listen to all the drivel written on this thread, negative people are ten cents a dozen.
This is a bountiful land with great natural resources, more than enough to feed and clothe our small population, don't be stampeded by the dooms dayers, they have too much time on their hands.
With great respect, I wish I could agree with you,in the last few years Australia has become more of a Plutocracy than a Democracy.
John Pilger wrote some years ago, "Under the Hawke-Keating government, there has been the biggest shift of wealth,'from bottom to top'.
The introduction of compulsory super is only accelerating the process, because a third of the super assets are held by self-funded-retirees, and the other two thirds are used by finance managers and Union bosses to gamble in the "financial casinos, and in the process they are creaming some $20 billion in fees, making them millionaires at expense of average people.
People on this forum should have a good look at the Australian social system, because it is increasing the gap between the have and have-nots.
The real troubles with Australian super
By ABC's Alan Kohler
Updated Wed 3 Apr 2013, 9:12am AEDT
Photo: The only clear winners are those in the super and investment management industry. (Thinkstock: iStockphoto)
What's really wrong with Australia's superannuation system? Savers don't know what they are saving for, Treasury is all over the place, and meanwhile, those in the super industry are happily skimming $20 billion a year in fees, writes Alan Kohler.