Superannuation Discussion + market volatility

[get me outta here]

LinkedIn suggested today I apply for a job as, “an agreement specialist”. Perhaps I could take on one of the NAB places that need some agreements between parties.

The other job was as a “special agent”. I think I may have misled them.

Who would want be the Chairman or CEO at NAB.... suspect the headhunters have already received their orders and are looking for two replacements ASAP.

 

[Buzzard]

The REST Balanced Fund you mention @serfty may not be considered balanced by some with 75% in stocks.
A lot of funds call themselves Balanced but are they?

 

[cove]

NAB folk like first class so they could be AFFers.

 

[QF WP]

The REST Balanced Fund you mention @serfty may not be considered balanced by some with 75% in stocks.
A lot of funds call themselves Balanced but are they?

Correct, what the industry has called "balanced" (70% growth) isn't what an ordinary person would assume (50% in each growth and defensive, with 25% in each sector - cash, fixed interest, shares and property, ignoring infrastructure).

The terms "cautious, conservative, moderately conservative, balanced, moderately aggressive and aggressive" are being phased out as the use of numerics (ie. xx% growth) become commonplace.

 

[tgh]

Pretty ordinary run up to xmas.. so much for the santa rally..

Trump's Treasury Secretary to convene 'Plunge Protection Team' to deal with Wall Street rout

This is not the kind of news a self funded retiree wants to read….

 

[cove]

As long as there is a “plunge protection team “ in place when / if Bill takes over in Australia.......

 

[JohnK]

Apologies if I mentioned this before but can someone who understands these things better than myself care to comment on this conspiracy theory and how we are affected?

Senate Passes ‘Bail In’ Law – How Safe Is Your Cash Now?

Few would know that very quietly on 14 February 2018, with just 7 senators present, the Financial Sector Legislation Amendment (Crisis Resolution Powers And Other Measures) Bill 2017 was passed into law on a voice vote. You likely saw no press on the matter and yet the ramifications for all Australians are potentially huge.

This is a very long and complicated piece of legislation but at its very core it brings Australia into line with the ‘Bail In’ agenda of the Bank of International Settlements (BIS) as agreed at the G20 here in Brisbane in 2014. ‘Bail In’ is about government not bailing out distressed institutions as we saw in the GFC using tax payer’s money, rather using the creditors of the bank to bail itself out.

The legislation allows our banking regulator APRA ‘crisis powers’ to secretly step in and run distressed banks. It allows APRA to then confiscate and write off certain types of bonds and hybrid securities and allows them to confiscate cash savings of SMSF’s. Whereas elsewhere around the world, including our neighbours New Zealand, they specifically include the confiscation of depositors’ funds (savings), the Aussie version just cleverly doesn’t specifically exclude that….

 

[cove]

The drop in the US market on Christmas Eve may not help our Australian stock market this week even though some stocks are looking pretty cheap.
There will be a recovery but no one knows when. It has been a while since Westpac traded on a PE of 10.

 

[Pushka]

The drop in the US market on Christmas Eve may not help our Australian stock market this week even though some stocks are looking pretty cheap.
There will be a recovery but no one knows when. It has been a while since Westpac traded on a PE of 10.

It’s all a bit bleak really, isn’t it. Shame we don’t have more public holidays until the US Government get their act together.

While not a Trump fan it is quite surprising though that there isn’t a fence blocking US from Mexico in the first case.

 

[cove]

I do hope Australia has its very own Plunge Protection Team. Our economy could easily turn down hard if the general public get scared and stop spending.

 

[Flying mermaid]

While not a Trump fan it is quite surprising though that there isn’t a fence blocking US from Mexico in the first case.

according to wiki the border is 3,200 km with 900 km fenced and the rest monitored with a system of sensors and cameras. Clearly not working that well, but land borders are always porous. The wall seems a political stunt appealing to people’s paranoia and smacks of Berlin to me. Money could be better spent on reducing debt or universal health.

 

[tgh]

The wall was/may still be a really useful populist political tool.
Without a totalitarian regime as managers , it would probably leak like a sieve and become the most wasteful white elephant in recent history.

Interesting times ; my money is still on a massive recovery (sooner rather than later) as there is no real structural crisis.. yet.
The gnomes may invent one though, and plunge us all rapidly into the abyss….

 

[Pushka]

according to wiki the border is 3,200 km with 900 km fenced and the rest monitored with a system of sensors and cameras. Clearly not working that well, but land borders are always porous. The wall seems a political stunt appealing to people’s paranoia and smacks of Berlin to me. Money could be better spent on reducing debt or universal health.

Well, Berlin Wall separated families who were previously part of the same country and citizenship. Like a Civil War wall. I can see the difference. The same as North and South Korea.

As far as their Health care system goes, one can only shake one’s head in disbelief.

 

[cove]

With the US heavily in debt there are not many solutions possible. The current deficit will be tragic for the next two or three generations of Americans.
We must not let this happen in Australia where tertiary schooled youth have their education to pay for as well as high real estate prices.

 

[get me outta here]

There is a fence where there is able to be, but due to some geographical obstacles and wildlife reserves it is not comprehensive.

. ... it is quite surprising though that there isn’t a fence blocking US from Mexico in the first case.

 

[get me outta here]

He sounds like a real catch.

He is now 62 and has booked flights to Thailand to get a wife.
Having $10,000 left and will be living off government benefits for the remainder of his life is not what I consider normal.

 

[33kft]

He sounds like a real catch.

He's not going to get far. He has a distinct lack of the quality that young Thai women would be looking for in an older Australian gentleman. It isn't conversation.

 

[cove]

Trip cancelled as he torched the $50,000 he accessed from his super. Took a few weeks to destroy his funds and now has no spending money for the wife gathering trip. I think my niece and her half sister are relieved that he isn’t going. No more jokes about a third half sister......
Somehow both of his children have turned out ok despite him being related to a plank.

 

[get me outta here]

There was a great song about being thick as a brick

Trip cancelled as he torched the $50,000 he accessed from his super. Took a few weeks to destroy his funds and now has no spending money for the wife gathering trip. I think my niece and her half sister are relieved that he isn’t going. No more jokes about a third half sister......
Somehow both of his children have turned out ok despite him being related to a plank.

 

[cove]

Yes I googled that song.
He would qualify with distinction.
Both of his daughters have done well with their studies with distinctions.

Meanwhile don’t look at the 5% drop in shares in Tokyo yesterday.