The Phaserl


When Nobody is Responsible for Your Retirement

from Daily

The law of unintended consequences is economics’ version of karma. It regularly clips politicians round the ears. But usually they’ve retired by the time it bites the true victims — you. Paul Keating’s superannuation system is today’s example. But it’s just generally true that the law of unintended consequences dominates public policy.

Case after case after case gradually convinced us.. Governments cannot solve problems. They can make them worse. Or they can create bigger problems. But governments never leave society with a net benefit. Even if you ignore the bureaucracy it costs to implement them.

If anything, politics has some entertainment value. And it creates highly predictable investment trends. Neither are worth the money we pay in taxes. Unfortunately, today’s topic doesnt entertain us. But it does leave you with a useful investment conclusion: Don’t rely on your super for retirement.

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