I think that you have made some interesting points, particularly those highlighting the demand for passive incomes and the role of fund managers.
Fortunately for the fund managers the market has short memories but from the last three years it has become obvious now that they are simply trackers of the index - they have no particularly better skills than the average private super fund operator. Their fees are excessive IMHO for what they achieve in anything but a roaring bull market.
I think that you are a tad tough on the baby-boomers. They are on the whole much better prepared to look after themselves in retirement than their parents - it's just that there are more of them. We need a severe cultural shift in attitude towards funding our own retirement. It's frightening how many people still believe that the government will be able to look after them in their retirement. It's scary when the Dems and Labor (Ridge hates that spelling) happily crush any efforts to rein in spending on pharmaceuticals and/or "disability" pensions and payments - the current government at least recognises that a problem exists.
This whole superannuation issue is a time bomb - there has to be a better way to lock in some steady growth - are government bonds and a regulated placement of funds the answer?
