The Forum > Article Comments > Australia’s superannuation - DNA and transparency > Comments
Australia’s superannuation - DNA and transparency : Comments
By Mike Gilligan, published 15/4/2013It is not easy to stand back and see what's really going on in our super. This is because the debate is charged with self-interest.
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“For the first time, questions arose about the sustainability of the super system.”
Speak for yourself. Those who understand sound economic theory, or the first thing about politics, knew from the get-go that it was unsustainable, and would only end in massive governmental defalcation – it’s in its DNA!
“It is not easy to stand back and see what's really going on in our super. This is because the debate is charged with self-interest…”
Fancy that.
“…it was not a selfless policy …”
What policy is? If it was, its supporters would put their own money where their mouth is.
“…but one which the unions grasped to avoid oblivion.”
Yes, and at a deeper level, it was intended to solve the problems caused by an early failed intervention – namely the unsustainability of the old age pension – by another intervention.
“Deciphering Kelty is not always straightforward.”
That’s because he’s both abysmally ignorant, and lying.
“It is little known that public funds' operating expenses, generally, grew every year since the Australian Prudential Regulatory Authority (APRA) began keeping records…”
Fancy that.
What amazes me though, is why anyone would think that this would *not* be the result of a compulsory thieving scheme. What’d you think was going to happen LOL?
“Keating says that, in 1983: I wanted unions to enjoy a structural or ongoing benefit in recognition of their years of wage responsibility.”
Thus displaying the aggregate or collectivist thinking whose fallacies lie at the root of all the sickness that the author diagnoses.
“The unions have purposefully built a new finance network around universal super.”
Of course. Where it’s all heading is that the union bosses will control these vast amounts of money critical to the economy. And so well and honestly too. Thanks Labor