Does anyone actually care about Australia's future?

Thanks for that (I never followed it all way back when....)
I thought the Telstra sell off was to fund the Gov employee superanuation (as they'd not been putting aside superanuation like business).
Maybe I'm thinking more like the Sovereign Wealth Fund Australia encouraged East Timor to set up when signing the ownership agreement for north west shelf gas field's.

Why are we borrowing so much to keep the economy rolling if we have these financial reserves/contingency/back up funds ?

If it's so easy to introduce gov bonds to come up with (print) money why isn't this done near the beginning of a boom and used to invest in various world markets to capitalize on growth ?

We all know Australia is heavily reliant on OS manufacturers now, what happens one day when our resources diminish, that leaves farming (not like we can sell property, that's been bought up by OS interests for years !).

We need to get smarter, not work harder...

 

The borrowing is about trying to keep the cycle going. The speed of the cycle is the power of the economy and gives people confidence in the economy.

If you had equity in your house to use for a deposit on another house, would you refuse to use it and instead use money you saved for a deposit? If you can borrow, then you borrow. It's a good excuse to tax the wealthier and redistribute wealth to the poorer keeping the cycle going.

We don't need to manufacture here, the only area of manufacturing we should expand is value adding to agricultural exports. Making fine wines and cheese for wealthy people overseas.

I am concerned about our relatively large finance industry with the rise of crypto, especially in Asia.

 

Wealth? What as in property?

I buy a house for 500k, sell it to you for 600k, you sell it back to me for 700k, have we created 200k? Is that wealth, or just notional, and apt to disappear as fast as it was imagined?

 

More likely created $200k additional debt

 

Its called capitalism

 

Nah, that is called wealth destruction at best , stupidity at worst .

 

Then everyone is stupid on PC

 

Not sure about everyone. I, for one, am. As least a question woke me up middle of the night sometimes. Someone told me to read this:

"For a person may labor with wisdom, knowledge and skill, and then they must leave all they own to another who has not toiled for it. This too is meaningless and a great misfortune." Ecclesiastes 2:21

Sorry to be religious for a moment...

 

That is your judgment, not mine .

 

If the shoe fits

 

I am a Queenslander. We wear flip-flops.

 

flip flop..... now that explains everything

 

I was going to use the word “thong” but I thought my post might get deleted .

 

lol.... ok.....thats it you have done it now......

 

So the commerce sector tells us "how GREAT we are doing" to promote borrowing to stimulate and grow the economy, progressively to the point that no one works as all the jobs are outsourced "OFFSHORE" for cheaper wages

Some of the poor and or young DON'T CARE about the future, they're very happy with Gov housing and a guaranteed paycheck, they would like a BMW, but don't really "need one/two/three....

*China is buying our biggest farms (their Aus based company sells at cost to a China company that sells in China to retain "the profit", so bugger all tax paid to Australia, everyone thinks it doesn'tmatter as it's still farming jobs----- ever been to a farm ? It's all heavy machinery and computer automation, what took 10+ people in 1980 to do is ONE employee now !).

So those that can borrow DO, and pin all their hopes , dreams and future on the next property BOOM

One day "Jobs & Growth" will stop, as will immigration
Those that are locally focusing on sustainability & Community will prosper

*One day is coming, Covid-19 is the current reality check
Bring on the Zombie apocalypse, I have fruit, strawberries and rain water to trade

 

Yes.... its already happening

 

A lot of people care, but everyone has their own opinion on what "caring" actually is. That is where the issue lies. If you ask a socialist if they care about the country they will say 'yes' and give you a completely different answer to what a capitalist may say after you ask them whether they care.

 

So "Like" how everyone care's about the environment
Until it will actually "cost them a dollar" (and then they go with the basement price, and whinge about "that s#!* job" for years & year's....? Or throw away plastic bags weekly)

 

This is a property forum.

Once upon time tilted towards investors .

 

You are correct, the Future Fund is to pay Government employees superannuation.

I'd also agree that a proper sovereign wealth fund would have been a great idea... one was proposed by Rudd and Swan using the proceeds of a certain Resource Super Profits Tax and we all know how that story ended.