aussies hoarding $877 billion in cash

they are not spending...no retail therapy....no crashing out on the mortgage.....they are doing what they have always done....twiddling thumbs, protecting themselves against the cowboys out there...who are ruining the economies...and the stock markets...

so where is that pot of gold ?
for most...it is still the family home....
superfunds are no 'rainbows end' either...
the housing market here in OZ has stayed put....because the majority of the poeople are conservative in nature....and there is a flood of people escaping the stock market....going back to the safety of bricks and mortar..
nothing much has changed since the stockmarket crash of 87..or the tech wreck of 2000....those people who went out into the gamblers den...have retreated, back to the safety net of the family home....as usual

and for the others, who took the punt of much higher wages from the mining industry, are finding the negative gearing into property, is a huge incentive...if they dont want to hand over so much tax...
some retirees, or about to retire will really have to rejig their retirement plans....the tiny amounts they had in super will not be there....some may sell and take cash for safety...but I doubt the full on selling of houses...as per the bears policy will eventuate...

......extract only....
HUNDREDS of thousands of superannuation investors would have been better off forgoing the government's tax breaks on contributions and putting their money in the bank, internal industry figures have revealed.

In many cases, the value of savings in super funds has failed even to keep pace with inflation, effectively losing more than $100 billion in purchasing power over the past five years.

http://www.theage.com.au/national/super-funds-prove-less-than-wonderful-20111119-1nonj.html#ixzz1eBgPxDky


http://www.afr.com/