I have not found another thread, nor the original article but seems like an announcement made in last 3-4 days about an extension of the ability to withdraw from super to fund a house deposit.
This is madness in concept, but attractive to financially naive or lazy people who happy to accumulate their savings from their employer, as pre-tax income, but make no effort to save from after tax income which they fully expend on lifestyle and toys.
The nett result of this is a negative for shareholders and the general economy, as risk capital is reduced, which is the source of the most jobs. So people with a new mortgage and not savigs discipline will be clobbered when they find themselves unemployed when the economy gets sick after interest rates rise because of the hyperinflation induced by all this stimulus in an already overheated housing market.
This is a 1993 style recession in the making and Josh and his advisors in Treasury need to be called out.
Or is Josh onbaord withth e Great Reset?
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