rba and quantitative easing, page-23

there is a generational aspect to all this - not one of the "seniors" I talk to can relate to Rudd and his stimulus package. None can understand an economy based on consumption or housing as a creator of wealth. Intuitively we are all horrified that Australia is pissing its wealth up against the wall at a time like this.
Many, like me, get to pay a small amount of tax on their pension and the $900 stimulus payment goes into the "if the idiots are giving it away spend it while you can" bucket.

And what on earth is "quantitative easing" - intuitively most would think the term is an apt metaphor for political crp and think "they are at it again trying to get something for nothing"

to finish up on a more technical note:

"there is an inescapable nexus between unachored fiat currencies, massive foreign bond issuance, money printing and a proximate pension implosion" (courtesy Marc Faber's mates at Jutland Capital Management)

.... I can't speak for others but I reckon a lot of us older folk know we're stuffed financialy as a country and also as indivuals but that's OK as many of us reckon we were happier with less, -and we can't cope with the assumption of priviledge that is so prevalent in Oz in these time anyway.

so like it or not the next big bill on top of a scary global debit deflation is your demographic tsunami baby boomer Mum and Dad's retirement account (lets hope India gets going minting patent busting medications!)

China by the way is complaining about only having about 2% of foreign investment in Oz - did anyone else see that in the AFR as I may have it wrong?

btw Jutland (menioned above) is suggesting that pension schemes displace a major part of their portfolios for gold