Citizen Journalism

Archive for the ‘Economy’ Category

A baby boomer fires back at ‘a certain age bracket’

In Retirement, Supperannuation on February 26, 2013 at 9:49 PM


By Denis Wright
February 26, 2013

I don’t get cross at much, but one thing that really sticks in my craw is the constant harping by a certain section of a certain age bracket – that somehow the baby-boomers are the source of all evil in the world.

Not you, of course – you’re smarter than that.

Do they realise that the next generation is going to say exactly the same thing about theirs? With just as much or as little justification? Probably not. They’re God’s gift to humanity they are.

What exactly are they doing to create a better world? Are they using fewer resources? Are they voting for political parties that are trying to? Not by the look of that house and that car and those clothes they’re not.


Which generation is expert at internet crime, likely to cause the collapse of the global economic system as we know it, and deal in new forms of bush-button warfare?

Not fair criticism, they say. No, it’s not fair – but it’s as fair as what they’re dishing out to their parents, or maybe their grandparents.

Not you, of course, if you happen to be of that generation – as I said, you’re smarter than that.

Do they think corporate greed suddenly emerged twenty-plus years after the end of World War 2, just with people now retiring? Have they never heard of the 1929 Depression, the idiocy of Prohibition that gave us the platform for organised crime? Should the baby-boomers try to pass the buck to their parents, and they might do to theirs?

Yes, some baby-boomers made money by investing in a house to put a roof over their children’s head. Generally, they were not looking to end their lives basking in luxury. They just wanted security, and most paid for it fortnight by fortnight, interest rates at about 15%.

Some put off travel until retirement, once they gave their kids a start in life. Now a lot don’t have the money or the health to do that, or new responsibilities have been dumped in their laps that they had no idea were coming. They’ve missed out on a lot of the fun. Maybe not your oldies. Good for them if they’ve managed to squeeze it in before they drop off the perch.

Who wants to start at the top? Who’s seeking luxury right now? Who’s travelled all over the world before they’re thirty, and have a brand new car? 

I know that you saved money and paid for your trip and are busting your guts paying off that car. You know better than the whingers. I’ve no intention of insulting you. And you also know what your oldies did for you.

A lot of baby-boomers didn’t have any of this. They didn’t leave high school with a glorious gap year ahead, often with no end of the gap in sight, supported by social security built on a system the post-war generation paid for. It was unthinkable. Read the rest of this entry »

Come on, wealthy baby boomers, take a cut in super tax concessions for the rest of us

In Economy, Noely Neate on February 25, 2013 at 5:02 PM
Credit @Thefinnigans

Credit @Thefinnigans

By Noely Neate
February 25, 2013

I had one of those bizarre mornings where a lot of similar themes unexpectedly came together and smacked me in the face about how self-obsessed we Australians have become.

I had a conversation with a friend about Sunrise on 7 (which I am not allowed to watch anymore as my husband says it makes me rant too much) and David Koch’s obsession with superannuation while pretending he is a ‘man of the people’.   His super carry-on drives me insane. Most Australians are worried about paying their monthly bills, not their bloody super. Rant for another day.  To settle down I went cruising various news sites and came across an awesome article on BBC New Magazine  called Australia: Where the good life comes at a price which tells ls us how bloody good we have it in this country.

To push me over the edge I went to AUSVOTES 2013 and read a brilliant, thought-provoking article by Ed Butler titled The ego behind anti-welfarism. It focused on how most Australians now believe they have ‘earned’ their privilege, not that they are lucky.  I urge people to read this article and then have a good look at themselves in the mirror. Like what you see?

The fact is the Baby Boomers are the wealthy in this country. They are the ones with superannuation and homes they have paid off . They are the reason  finance news is now part of our nightly news. They are the people who have convinced us all that the Economy is the most important aspect of our upcoming election, because share prices and the like affect the returns on their shares and their superannuation.  These are also the people who have forgotten that we are the ‘lucky country. Many of them have also forgotten empathy, and passed that on to the public at large.

I many will frown at that statement, but take a breath and think about it.

What sort of country are we that we condone the hit on struggling single mothers by making their lives worse? Yet there is a Hands off my super! cry at the thought of cutting tax concessions on super?  Single mothers would love to have the luxury of superannuation!

Homeless people have no idea about superannuation!  People dying, waiting on hospital surgery lists don’t give a rats butt about superannuation – they will most likely not be alive to benefit from it.  No-one cares about these people, we all just bow down to the all powerful ‘Economy’. Somewhere over the years we lost our humanity .

Baby Boomers consistently tell us they ‘worked hard to live comfortably’ and ‘earned everything they have’, and to a certain degree they have, though they also have a tendency to re-invent history.  They love to proclaim that they ere savers who were not wasteful on big screen TV’s and McMansions, which is true.What they neglect to say is that they did not have the same issues faced today which inhibit saving or paying off your mortgage early, and that many of those issues are actually social.

For starters, back in the day the bank gave you a mortgage based on one sole wage earner, not both as is needed today. In most cases women stayed home and looked after the kids, so there were no child care expenses.  If the earnings were the result of a university education, they didn’t pay for that at all – it was free education. Read the rest of this entry »