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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (15665)11/13/2004 4:56:47 PM
From: Elroy Jetson  Read Replies (5) of 116555
 
I have most of my money in Australia.

While many nations have followed America's plunge into financial suicide, with tax cuts paid for with massive new debt loads, Australia has steered a steady course.

By maintaining a pre-Reagan tax structure they have a fully funded retirement system with a modern pay as you go society.

Prior to the early 1980s the Australian Dollar was unnecessarily linked to the British Pound. As it became clear that they would be excluded from the European Common Market, Australia began to chart their own destiny. Their retirement funds are invested internationally so the soundness of the system does not depend on the value of their dollar or any currency.

pm.gov.au

Australians all let us rejoice,
For we are young and free;
We’ve golden soil and wealth for toil;
Our home is girt by sea;
Our land abounds in nature’s gifts
Of beauty rich and rare;
In history’s page, let every stage
Advance Australia Fair.
In joyful strains then let us sing,
Advance Australia Fair.

Beneath our radiant Southern Cross
We’ll toil with hearts and hands;
To make this Commonwealth of ours
Renowned of all the lands;
For those who’ve come across the seas
We’ve boundless plains to share;
With courage let us all combine
To Advance Australia Fair.
In joyful strains then let us sing,
Advance Australia Fair.
.
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