The DJIA is a hoax? Hasn't it always?
As are economic models that need inflation? To in effect, move wealth from the needy, into the already overflowing hands of the greedy?
And isn't the whole thing (equity markets generally) terribly skewed, by computer programs, that buy and sell in milliseconds, on the barest fractional rises and falls!
And a very good reason for superannuation funds to seek other much more tangible investment vehicles.
Like say, some visionary nation building projects, that will still be earning a quid, long after all who read these lines are pushing up the daisies!
All of which could be funded via, thirty years self terminating, Government guaranteed, Bonds!
We stand almost alone as the only advanced economy' that still doesn't have them, or the income earning projects they could build!
An inland shipping canal, rapid rail, High speed nuclear powered roll on roll off submersible ferries, that take our goods to the rest of the world?
We or treasury, would lose absolutely nothing if the interest component returns on these low income bonds, were tax free!
Think, the new projects and the new employment paradigms built by those funds or investment capital, would pay tax! And money that we continue to forgo, by allowing/obliging our own funds to invest overseas, simply to minimize tax! (50% of something is always going to beat the hell out of, the 100% of nothing, we currently earn from these off-shored funds)
And indeed, end forever, the continually whined excuse, accompanied by much forelock tugging, that we can't do or can't afford it!
Rhrosty.