Yeh. I see it the super as a giant ponzi scheme trapping the bulk of Australians. I doubt I'll see it blow up in the next 10 years or so but as they pour the workers money into dubious politically orientated 'investments' (Green stuff etc) and as the baby boomers draw down for retirement I suspect the younger generation will find they have been royally screwed. But that's just my humble view
Well done Ken yes it’s the”eternal bureaucracy” CBUS gained me $47 after five years of super so much for 9% per Annum (false advertising) but I checked a few years ago & got a figure of 2 trillion $ invested in Australian Super (pre Covid) I wonder did Dan Andrews use that as collateral for a $1trillion loan from China ( belt & road)
Yeh. I see it the super as a giant ponzi scheme trapping the bulk of Australians. I doubt I'll see it blow up in the next 10 years or so but as they pour the workers money into dubious politically orientated 'investments' (Green stuff etc) and as the baby boomers draw down for retirement I suspect the younger generation will find they have been royally screwed. But that's just my humble view
Well done Ken yes it’s the”eternal bureaucracy” CBUS gained me $47 after five years of super so much for 9% per Annum (false advertising) but I checked a few years ago & got a figure of 2 trillion $ invested in Australian Super (pre Covid) I wonder did Dan Andrews use that as collateral for a $1trillion loan from China ( belt & road)
Champion !!!
Brilliant analysis Ken.
thanks for the commentary Ken