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Raise your glass and toast The Idiot Ching!

MacroBusiness Access Subscriber Only Content at 9:00 am on June 30, 2021 | 25 comments While 12 million locked down Australians wish they were denizens of Melbourne today, Australia’s least liveable city, it is high time that we take stock of the benefits of The Idiot. When one considers the upsides of how systematically The Idiot is destroying his own agenda, I think you’ll agree that losing your liberty for a few days is well worth it. There are three distinct upsides to The Idiot regime. I can’t rank them in any order because they are all so excellent. You’ll have to decide that for yourself.

Retiree numbers, super balances set to balloon

Retiree numbers, super balances set to balloon By Neil Griffiths 29 June 2021 Australia’s super system will play an “increasingly important role” in supporting the living standards of the nation’s soaring population of future retirees, according to peak body ASFA. Intergenerational Report (IGR) released on Monday projects that expenditure on health and aged care will increase from a combined 5.3 per cent to 8.3 per cent in 2060-61. It also projects that the proportion of the population aged 65 and over will rise over from 16 per cent to 23 per cent over the next 40 years. “This report highlights the importance of superannuation for Australian retirees who face higher medical and aged care costs in the coming decades,” ASFA chief executive, Dr Martin Fahy, said.

Deloitte says its workers can work from home forever!

Switzer Daily 30 June 2021 Who said accountants are boring and stuffy? That old view could change, with many seeing Deloitte’s decision to allow its employees to choose where and when they work as a win for modern work practices. But it’s going to be the start of a huge loss for CBD-based businesses, and as a consequence, the CBD itself could become more residentially-inclined as office buildings become apartment blocks. And on an economically-worrying front, there could be a productivity problem that goes with this decision, if workers find it harder to deliver great results at home compared to the office workplace.

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