Big loss

It is quite phenomenal how the markets have plunged in the recent months. However, relative plunge is never so bad. What is awful is if your portfolio drops a lot and others either rise or fall only a little. In Australia, we are insulated by Asia. Europe is in deep shit yet its currency continues to be highly 'valued' and its service overpriced and arrogant.

Governments after governments in Australia are only interested in holding power for 3 years with no foresight to plan for the longer term. The last major long term planning was by Paul Keating with his vision for superannuation. All we do now is dig up our natural resources and sell them without value adding, other than concentrating the mineral if it is not direct shipping ore.

I have less issue with the MRRT if it goes into a sovereign fund where the government of the day CANNOT touch it because it is for the future generation. Nope. Uncle Wayne and Aunty Julia are waiting there to distribute it like communists... from the past. Modern communists are capitalists!