tag:blogger.com,1999:blog-24338064.post6872647337953365615..comments2024-02-11T19:28:27.997+11:00Comments on Personal Reflections: Economic gloom in AustraliaJim Belshawhttp://www.blogger.com/profile/10075614280789984767noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-24338064.post-69818155414588067382012-05-18T10:14:13.180+10:002012-05-18T10:14:13.180+10:00Hi kvd and Ramana.
Read your comments on this on...Hi kvd and Ramana. <br /><br />Read your comments on this one before, Ramana. Difficult.<br /><br />kvd, will look at the links and respond! Take you point indeed about older people.Jim Belshawhttps://www.blogger.com/profile/10075614280789984767noreply@blogger.comtag:blogger.com,1999:blog-24338064.post-56688140080748118922012-05-18T05:34:11.939+10:002012-05-18T05:34:11.939+10:00Jim
Had to smile when I read this similar comment...Jim<br /><br />Had to smile when I read this similar commentary:<br /><br />http://www.smh.com.au/opinion/politics/unpicking-the-collective-whinge-20120517-1ytk0.html<br /><br />- makes some good points, and I particularly like the concluding summary of The Treasury Secretary's views.<br /><br />kvdAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-24338064.post-87500237635414934962012-05-18T01:19:26.778+10:002012-05-18T01:19:26.778+10:00Gloom seems to be a universal phenomenon now. In I...Gloom seems to be a universal phenomenon now. In India, it is because our establishment is paralysed and not taking vital decisions/enacting laws etc. Politics is at its nadir here right now.Rummuserhttp://www.rummuser.comnoreply@blogger.comtag:blogger.com,1999:blog-24338064.post-50845458391546966102012-05-17T16:17:13.605+10:002012-05-17T16:17:13.605+10:00And then there's this, just to make you lose w...And then there's this, just to make you lose what little faith you may have retained in the competence of our much vaunted regulators:<br /><br />http://newmatilda.com/2012/05/17/trio-capital-inquiry-self-managed-super<br /><br />Hit my inbox just after I posted the previous comment. Enough to make one vomit.<br /><br />kvdAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-24338064.post-15858483496220459732012-05-17T15:50:44.215+10:002012-05-17T15:50:44.215+10:00"Who could blame them?" begs the questio..."Who could blame them?" begs the question who to blame?<br /><br />Jim, I understand your quite reasonable concerns regarding the instability and unpredictability in the employment area, but I would add to them the Australians past that period in their lives; those who now rely upon the management skills of others to protect their nest eggs.<br /><br />Have a read of this (but only if you wish to become severely, profoundly, disappointed in our regulatory authorities):<br /><br />http://www.smh.com.au/business/the-scarlet-pimpernel-of-funds-management-20120517-1ysnv.html<br /><br />And, if you can stomach it, maybe also review the (pdf) from ASIC which constitutes the limit of their advice:<br /><br />http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/info111-information-for-investors-in-frozen-funds.pdf/$file/info111-information-for-investors-in-frozen-funds.pdf<br /><br />Note the list of frozen funds (since 2008) in that pdf, and note that just the one which is subject of the article was originally $1Bn from 10,000 investors. Who knows what the sum total is - it beggars belief.<br /><br />Then if you really want a laugh, have a read of the pdf section titled "What is ASIC's role?" And the even briefer "What rights do investors have?" I mean, it's not as if we (both you and I) haven't talked about this before over now the past four years or so. I would ask - "why is this still an unresolved problem, continuing to suck up management and legal fees?"<br /><br />I'm just guessing here, but if you think presently employed Australians are concerned for their future, just spare a thought for all the older people caught up in these funds.<br /><br />kvdAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-24338064.post-76181090987932927812012-05-17T10:36:10.544+10:002012-05-17T10:36:10.544+10:00Thanks, EvanThanks, EvanJim Belshawhttps://www.blogger.com/profile/10075614280789984767noreply@blogger.com