Wobbles. you are so right about the housing bubble make it tough for the next generation, except for those having a crack at playing with the market and getting away with it. t does not seem long ago when the Howard government borrowed American money to give the housing industry a kick along for much needed housing for the younger generation as well as to keep building labourers in work.

But while the boom has been hard for the young it has been very fortunate for older retirees, where here in Hsll's Head, Mandurah, WA, houses and adjoining blocks have jumped up tenfold in ten years. Just lately, in fact, many of the oldies who have kept fit enough to stay in their own homes are having unstamped letters dropped in their mailboxes suggesting that they make a fortune by selling out.

But still there is the worry that the boom cannot last, and it is certainly true that a government should be careful that they do not give kick-off loans to the wrong people. And also banks can be over-generous risking capital which can cause would be owners to lose the lot.

Of course, the boom could have been quietened down by a much earlier rise in interest rates, which possibly the Reserve Bank governor should have arranged, but with the separation of powers principle pretty well made null and void these days by an interfering Howard government, all we can do is just pray and wait for the outcome.

It has been suggested that the "Futures Fund" that Peter Costello spoke of, will receive the profits from the sale of Australian Assets.

Telstra profits from the sale will go into this "Futures Fund" and will actually be filling the black hole of the Governments Superannuation Scheme.

In arrears is a figure put forward of 90 million dollar black hole which even leaves a deficit of 60 million.

Legislation was passed that politicians now only receive 9% as the rest of the nation.

The exposure and judgement of the lucrative payments taken from the taxpayers, suggested that politicians were receiving were unjustified amount.

But the changes to legislation did not effect those politicians already in government. And unfortunately we like to keep them in double the amount of their shelf lives.

As our politicians retire in their droves there will be a need for a source to draw from.

Is this "Future Fund" really about ensuring our politicians superannuation payouts

"Is this "Future Fund" really about ensuring our politicians superannuation payouts "
Of course, that is what it is for, include all commonwealth public servants; I think you will notice that all countries that "go under" big time always look after their own, public health, pensions(centrelink type ones) and education may all go, but publicservice/defence pensions are still paid no matter how impoverished the country becomes(Chile, Argentina for example)
Where is the future fund for welfare recipients?
The future fund is more a statement of attitude and what may eventuate, and the federal governments attitude if things get tough.
We may be getting a picture of the future here!