there is a "personal experience" clause on this forum remember!
the family home is quarantined from assessment when it comes to welfare
the family home isnt taxed and eroded by inflation
the best way to preserve and increase wealth in australia is to keep buying a bigger and more expensive house - great if you have safe senior job with the government, not a contract IT worker
I dont get "market rates" (whatever the hell that means - god how stupid) for my savings at all, especially now - interest rates were higher with less employment and less economic activity
right now, my after tax, after inflation return is a big fat zero and it may go lower. The rent of my money from speculators has no return whatsoever right now. Its no wonder im considering leaving this country and going to a place where my money goes a lot further, a place where i can retire now and deprive australia of that cash
the laws of supply and demand dont apply to interest rates like it does with everything else, its manipulated by government to the detriment of savers
if saving money in the bank was so great, why is this countries so called "wealth" just a big pile of debt?
I have to laugh when economists say Australias wealth has "increased"
we all went down the bank and took out bigger loans to buy the same asset for ever increasing prices....wealth? what a laugh
savings is wealth, nothing else. this country has no wealth, its a net importer of cash
if we had factories making iPods that were designed by us we would have wealth.
All it would take is a right wing anti immigration party to be swept into power to show our wealth is all an illusion
