The Winter Edition of ‘Your Personal Wealth’ newsletter is attached with our compliments. Judging by the booming Property and Share Market, Australia has recovered remarkably well from the doom and gloom of 2020 (except of course in Victoria). However, the nation now faces the problem of the enormous debt both at the State and Federal Level that future generations will have to deal with one day. And that of course will be our Children and Grandchildren. They may not thank us for this situation.
Governments of all persuasions will count on inflation to hide much of this problem. This will lead to the decline in purchasing power of the dollar. And with zero interest, retirees on fixed incomes will suffer the most, with declining living standards as they enter their twilight years. Thankfully, we live in the best place in the world and that can only help counter this situation.
Best wishes for the new Financial Year.