daytrading may 8 pre-market, page-4

Thanks HLL, your daily premarket and afternoon summaries are greatly appreciated :) it still amazes me how much your summaries help my everyday investing/trading activities. Not to mention just an interesting, well written pleasure to read :)

GL Endless also.

Just wanted to chime in my 2c on the thread topic last night, Australia has definetely got a welfare crisis. As many socialist nations before us, if we do not reign in un-productive incentives we will end up in huge debt and many will be far worse off than if we just cut a few cords today.

The major issue with any cut-backs are two-fold. Firstly a lot of western cultures have fostered a sense of entitlement in the current day populace which means they will vote whichever way to keep their entitlements coming without thinking of the consequences later. The politicians don't help because they only care about getting in to office and preferably securing a second term. 6 years will not see the true effects of continuing these policies in most cases and after they are out, the glory times of free money are remembered with a smile compared to the clean-up forced onto the next politicians (usually labelled horrible in later memories).

The second fold is that in many ways, welfare has turned from a helping hand in times of need into a scheme where by some people actually measure the profitability of working versus welfare recieved. By this, I mean if you an unskilled labourer or retail worker earning minimum wage, often taking a small paycut to not work and live on welfare starts looking like an attractive option. Seeing as many people have found ways to get 'indefinite' welfare, this is a dangerous concept, as it turns someone who contributes a service or product into someone who drains the economy.

It is a dangerous line to walk between trying to give people an honest helping hand in times of need versus giving people an incentive not to look for work.. and as such, we have more people classed as proffessional students, on disability pensions (with minor injuries, they _could_ still work, not the actual fully disabled), having kids without the resources to support them and people without super left (because they spent it like crazy) knowing they will get welfare...