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Paying the price for greed and idiocy : Comments
By Hugh Selby, published 28/11/2008Thank goodness a mandatory retirement age has been abolished for many of us: our pension plans are ruined and our adult children can't get jobs.
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Quite right about superannuation. It's a big blow to many retirees. I'm afraid there's not many places to shelter in an economic storm so super will continue to be hit hard for a while. Don't write super off though - especially when the cycle turns back again.
This is a big economic downswing but be heartened as it's nothing like what we had in the 80s. Yep, we're paying the price for greed and idiocy but to keep it in perspective, it's also nothing like Oct 1929 and the calling in of the margin loans.
More brains good. More doing even better.