More than two-thirds of the $2.3 trillion in household wealth generated in Australia in the first half of this decade went to those aged 55 or older.
The later period coincided with the end of the global financial crisis and a large housing boom in Australia’s major cities. "The rise in housing prices generated windfall gains for those who owned property before 1995," the report says. But National Seniors Australia Interim CEO, Professor John McCallum said the framing of the debate as one of old versus young was "a bit muddled".
Left unchecked, Roger Wilkins said the effects of rising inequality went beyond the financial into the psychological."The aspirations to home ownership run very deep in our society. There is a sense that to plant roots you need to buy a home. A lot of people who have that sense feel they haven’t been able to establish themselves.
Asked what should be done to reverse the growing inequality between generations, Ms Wood said, "We need to look at the policy settings that have contributed to the trend."
What about the low pay under pay powerless defenceless workers, against the powerful bosses and the only pro-business anti-workers Capitalism Coalition Government. the sick, unemployed, very disadvantage Coalition Bosses claiming they no need any more money, already get too much
the millenials miss out They r d new middle class but like inUS the middle class is being hollowed out
. I've always said I was lucky to have been born in 40's if u wanted work ,a house car u worked hard you could reap rewards Things only getting tougher for todays youth thru no fault of their own. We even own a 2nd house in QLD near Noosa that sits vacant 10 months of year
By working and saving 🤔
Mid 90s. 🤦🏻♀️ Keating invented worst piece of Public policy what has super done to rising house price I know boomer couple who owns home,set self managed super up,bought more real estate,With tax concession Super gets a spot at 6 min mark conalhanna
conalhanna in Paul Keating own words......... “Owning a home was fine but they(I presume older workers)needed more. Brackets not PJK words😜😜 But our kids can play in changing rules. But you can’t change rules for wealthy
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How older Australians captured a growing share of the nation's wealthMore than two thirds of the $2.3 trillion in household wealth generated in Australia in the first half of this decade went to those aged 55 or older. Good news for their kids or others who are set to inherit the wealth in time (because I don’t believe the current generation of older Australians will spend it all on themselves). Maybe because they are older and have had more time to work for it? Or Inherit it from the previous generation? That's what logic would describe. Excellent news
Source: smh - 🏆 6. / 80 Read more »
Dementia rate for older Australians is declining, research findsDementia is on track to become Australia's biggest killer, but new research finds healthier lifestyles and a drop in smoking has seen the rate of the condition declining in older Australians. Something in the water Long suspected alzheimers may be linked to toxic exposure. Steamed combo to PFO's(waterproof clothes),asbestos(old iron board rests)&(old coal chimney power pots). Wartime girls worked pregnant&absorbed thru skin ergo to womb. Less use-exposure-patients.
Source: abcnews - 🏆 5. / 83 Read more »
'Reality has to kick in': Ominous warning about high-flying Australian sharesIn the US there's FAANG and in Asia, it's BAT. Down Under, a burgeoning tech sector has its own five-letter acronym: WAAAX.
Source: smh - 🏆 6. / 80 Read more »
'Reality has to kick in': Ominous warning about high-flying Australian sharesIn the US there's FAANG and in Asia, it's BAT. Down Under, a burgeoning tech sector has its own five-letter acronym: WAAAX.
Source: smh - 🏆 6. / 80 Read more »
The Beckhams’ eye-watering joint wealth revealedDavid and Victoria Beckham have become joint billionaires. 💸 and still she wont smile why is that news So many families and communities are struggling throughout the world and this is news Sleazy Cabal puppets ... not nice people.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Shelving its wealth management demerger was the only call for CBACBA, confronted by the costs and uncertainties permeating the wealth management sector, had no realistic option but to suspend its plan. 'Wealth Management' = Fraudulent Pilfering Particularly after his gambit to kill off Mortgage Broking failed.There is a great story waiting to be told about the family and long standing relationships at play around the RC and it’s deliberations and findings.Strong personal and family ties. Surprised it has not got out yet
Source: smh - 🏆 6. / 80 Read more »
CBA puts wealth, mortgage broking spin-off on backburnerCBA says it has suspended preparations for the demerger of its wealth management and mortgage broking businesses in order to focus on implementing the recommendations of the royal commission. as trailing comm is allowed by LNP gov they want to keep fin planning The same greed inducing trailing comm would make lots of profit using other peoples' money
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CBA halts 'panicked' $4b wealth demergerLess than a year after announcing plans to get out of wealth management and mortgage broking, CBA suspends the process, saying it first needs to fix problems identified by the banking royal commission. Weird how banking stocks went up after the royal commission Glass - Stegall break up the BIG 4 banks now and disband their corrupt regulators. SabraLane Yeah sure! $5 says it never happens.
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How the Christchurch shooter was captured“Our staff acted with absolute courage in intervening and had to use some force. They put themselves in harm's way to stop any further attack and I do believe they did prevent further attacks.” 9News
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Mother’s carjacking captured on dashcamTerrifying footage has emerged of the moment a Sydney mother was carjacked during a routine trip to the grocery store. 9News Lock yr doors Im scared of the type of world it will be for my grandchildren Is it just me or is there two different people in those photos. Unless he did a reverse Michael Jackson on the way to the car....that’s incredible.
Source: 9NewsAUS - 🏆 10. / 72 Read more »