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Lack of vision

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Levity?

By: AlanK (Registered ) on 05-11-2007 03:49

I came across this joke, which is an oldie, but, still appropriate and timely, given what we are enduring today. 
Keep the general concept in mind; just apply that concept to ALL remarks made until Election Day. 
 
This is my attempt to inject some levity; too many people are taking themselves far too seriously!  
 
 
 
A man in a hot air balloon realized he was lost. He reduced altitude 
and spotted a woman below. He descended a bit more and shouted, 
“Excuse me, can you help me? I promised a friend I would meet him an 
hour ago, but I don't know where I am." The woman below replied, "You're in a hot air balloon hovering approximately 30 feet above the ground. You're at 35.18.493 south latitude and 149.07.479 degrees east longitude." 
 
“You must be in IT," said the balloonist. “I am," replied the woman, "How did you know?" 
 
“Well," answered the balloonist, “everything you told me is technically correct, but I've no idea what to make of your information and the fact is I'm still lost. Frankly, you've not been much help at all. If anything, you've delayed my trip." 
 
The woman below responded, "You must be in Management." I am," replied the balloonist, "but how did you know?" 
 
“Well," said the woman, "you don't know where you are or where you're going. You have risen to where you are due to a large quantity of hot air. You made a promise, which you've no idea how to keep, and you expect people beneath you to solve your problems. The fact is you are in exactly the same position you were in before we met, but now, somehow, it's my damn fault."

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40 year plan

By: geoffreykelley (Registered ) on 05-11-2007 11:04

Alank, you lament the Liberal Govts. ability to forward plan. 
Have you read Costelloes Inter-Generational reports he produces each five years? He is planning well into the future. IGRs came out in 2002 and 2007 and plot our future for the next forty years.  
 
See www.treasury.gov.au/igr/ IGR2007.asp 
 
You asked, "Of the billions in Superannuation Fund investment portfolios, could not some be farmed out as venture capitol? (sic) Some of the returns could be phenomenal." 
I don't agree. I don't believe that the workers future savings should be gambled with. I believe that responsible fund manager should do their best to maximise the returns to their contributors. 
 
The Howard Govt has kept interest rates low for the last eleven years. There is plenty of venture capital available. The whole world is awash with investment funds. The way you ensure that there is plenty of venture capital is to keep the interest rates low. 
The current interest rate is lower now than at any time during the 13 years of the Hawke/Keating Govt. and less than half of the highest rate of 17.5% 
Tax rates are now so low that tax avoidance is quite expensive, so more capital is freed up. 
 
Please give credit where credit is due. 
 
Geoffrey Kelley

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40 Year Plan

By: AlanK (Registered ) on 05-11-2007 12:37

I have seen that report, and I could not help but wonder that if things have been so good, and the forward projections are excellent, why use an ageing population and falling fertility rates as the reason to generate an indecent surplus, and not use it for something productive? That is the slant I place upon it, you evidently have another view. I did not see where he planned to return any of that money to be used for health, education, or transport. I realise that it is difficult to name specific projects that far into the future, but, a mention could have been made of anything at all to give some hope to the taxpayers who have created these unbecoming, obscene, unsuitable, vulgar, unseemly or improper surpluses.  
 
Regarding my idea to use some of the accrued superannuation funds for venture capitol, you say, “I don't agree. I don't believe that the workers future savings should be gambled with. I believe that responsible fund manager should do their best to maximise the returns to their contributors”, to which I respond, what are the fund managers doing now, if they are not gambling on the stock market, the property market, futures funds, buying or building structures, and thereby planning for some future return on their capitol they are investing. Who is to say which is the bigger risk? Who is to say that a percentage risked backing some Australian citizen would be lost? Have those owning these funds, the workers who contribute, ever been asked what they want done with some of their money? Let those who select a higher, riskier return be asked what they want done, instead of always having some guru telling them he knows what is best. He only knows what is best for him, he does not know me from Adam, nor, I dare say, does he want to. 
 
All I have heard on this sounds like “Pollie” speak, and we have been told enough lies to last 10 generations. If we keep going as we are now, God help the 10th generation from now.

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lack of vision

By: geoffreykelley (Registered ) on 06-11-2007 11:51

Dear AlanK, I urge you to look at the IGR once more. The ageing population and the falling fertility rates are reality, not parameters chosen by a fiscal fiend to mount some kind of political argument. Labor will have to come to grips with this problem at some time soon if they want to demonstrate any credibility at all. You wanted a “20 Year Plan”. The Libs have a 40 year plan and you don’t like it. You use emotive terms to describe the surplus such as obscene, unsuitable, vulgar, unseemly and improper. Some of the reasons we have high surpluses are because unemployment is at a 40 year low and we have more tax payers and less welfare recipients, our economy is flying partly due to China and India, and Costello has paid off the obscene govt debt he inherited from Keating! We now have a surplus instead of paying interest on the debt and that money is going into the Futures Fund. Yes, the Futures Fund that Rudd and his henchmen are going to raid to pay for their broadband policy. 
It is a fact that currently about 4 out of 5 Australians are working and paying taxes. In 30 or 40 years time only about 2.5 Australians out of 5 will be supporting the other 2.5 Australians who will be retired. 
Read the IGR and find that Costello IS preparing the nation to spend more money on HEALTH! 
What plans does the ALP have to address this problem. 
Costello has the IGR!  
What doe Rudd have? 
As for investing, you ought to make a distinction between investing and speculating. 
You also said, “Have those owning these funds, the workers who contribute, ever been asked what they want done with some of their money?” The Liberals have legislated that all workers are to CHOOSE the fund in which they invest their superannuation. It is ILLEGAL for an employer to direct an employee. All employers had to offer up written evidence that all employees had been informed of the legislation. This was a Liberal initiative and NOT an ALP initiative. Please be fair and give credit where credit is due. 
What precautions did the ALP ever take to support your statement above?

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Lack of Vision (2)

By: AlanK (Registered ) on 06-11-2007 14:04

I do not deny the fact of ageing, and the falling fertility rates. I do object to these facts being used as a “leader” to substantiate an argument for one hypothesis assumed for the sake of one answer to a problem. There are other ways to attack this dilemma, and if the falling fertility rates are a concern for the government why have they not changed the mechanism by which the situation is dealt with? There has to be more than 1 for him, 1 for her, and 1 for the country. 
Might I suggest a look at why! Could it not be that paying up to 35% of GROSS income, [before tax and super], is the reason why we are raising a nation of DINK’s? Could it not be that credit is too easily obtainable? Could it not be that there are too many other taxes, tariffs, and excise charges and duties? Could it not be that costs go up all the time? Could it not be that items that constitute the buy for the “Cost of living” basket do not necessarily reflect ALL the items that go into the pantry and fridge? 
Let us be honest now, far from being better off, as Mr Howard and Mr Costello tell me I am, I have been going backwards for a number of years. They DO NOT shop at my local Woolies, nor buy petrol at my local garage. 
Why are the reported unemployment figures at a record low? Could it be that some long term unemployed have been dropped off? Could it be that if you now work 1 hour a week you are considered to be in “Full Time Employment”?  
We all know that there are ‘lies, damned lies, and statistics’ and stats come after all the lies are told. It might be time for a new batch instead of the same old ones. 
I am not convinced that the National good fortune is flying partly due to India and China, or the Federal government. I would like to give credit to the business deals done, trade missions by the States, and general conditions in the rest of the world. The state of the economy today is roughly where it would be even if another party was in government. A case of “In spite of, not because of”.  
With super, off course contributors, a better word than workers, have a choice of funds, but the fund managers have never asked the contributors if they would like to use some of their money to back ventures. Why knock what has never been tried, the fund managers could turn out to be good at their job. After all, they are the employees of the contributors to the fund.

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