There are also more sinister intentions from the government IMO.
The cycle:
Wasteful Socialist Labor spending & poor economic policy = bad economy = higher unemployment = more welfare dependent labor voters = more spending & poor economic policy = worse economy = higher unemployment = more welfare dependent labor voters.
Eventually we end up like America where the majority votes to keep the welfare state.
In order to help fund the welfare state you get increased wealth re-distribution.
So I definately can see the possibility of super becoming "state controlled" i.e. Shared amongst the masses as has happened in Europe already.
The only ones who will retain control will be those with SMSF's who can cash out before their wealth is stolen.
- Forums
- Property
- the govnut and the banks want your super now
There are also more sinister intentions from the government...
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