The Dog’s Bollocks

Truth is like a dog’s bollocks – pretty obvious if you care to look.

Howard will sell Australia Post

Despite denials from both Government and Opposition, a re-elected Howard government would sell Australia Post. It’s been on the back-burner for a while, but the timing hasn’t been right politically while dealing with the aftermath of the Telstra sale. Australia Post is a tempting and obvious target for those keen to profit from privatisation. No doubt some of the proceeds of the sale would go to ‘the environment’ and the rest into the Future Fund.

And what a scam is our Future Fund? $billions of taxpayers’ money, which should have been used to invest in the future through education, health, science and public infrastructure is handed over to foreign fund-managers who lost the pension funds for Enron! A nice little earner for all involved, I’m sure. That’ll definitely cover a new beach house down the coast.

Meanwhile we have the unedifying collapse of ACR last month owing $330 million to investors, who are mainly retirees. How long before the Future Fund suffers a similar fate? Better to spend the funds now on policies which will make a difference to our future, not on lining the pockets of dodgy fund managers and parasitic private equity raiders. Reminds me of an old Bengali proverb – trust no future, however bright.


Filed under: Economics, Politics

2 Responses

  1. Dave Bath says:

    I’ve put a $$ analysis of the economic stupidity of privatizing OzPost here, showing how the federal government would be hit between 500 mill and 1 bill per year.

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The Dog’s Bollocks

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