Gday Baz
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Hard luck all you suckers who pay to keep me in clover
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All it takes is the swoosh of a pen and its over.
I personally reckon if its good enough for us to have our super at the risk of the market, its good enough for the pollies/public service.
Like this little beauty that just came out
http://www.investordaily.com/cps/rde...D9632-98A4F01B
I really liked this bit
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The auditor concluded the shortfall could not have been foreseen.
"Key factors contributing to increased liabilities for defined benefit super funds include deteriorating investment performance in global markets,
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Bit like Ooops, we stuffed up your investments but its not our fault,
and anyway, the law says that we can collect 200 and not go to jail,
so lets see what else we can invest in meantime.
Got a flyer during the week that "Local" council rates will be going up bigtime again, as the state govt forces the local councils to fully fund the debt.
It wont last long at this rate.
Andrew