#nostriches and #austriches

Here’s an Aussie joke for you:

Australia's Future Fund was established in 2006 with the purpose of strengthening the country’s long-term financial position.

Its primary goal? To ensure the government can meet unfunded superannuation obligations for public sector employees without placing a financial strain on future budgets.

The Future Fund is structured to be a patient, long-term investor—designed to maximize returns over time while managing risk, ensuring there’s enough in the pot when liabilities come due.

An independent sovereign wealth fund, created to accumulate savings and offset the government's future liabilities, particularly public sector superannuation payments.

But today, the Treasurer reckons it’s a good idea to start investing in houses and renewables.

So much for independence.

Here’s the punchline:

1 in 5 working Australians is employed by the public sector.

66% of all GDP growth since Q2 2018 has been fueled by government spending.

Meanwhile, we’re in a per capita recession with peak biz insolvencies hitting just recently.

The government created a Future Fund to secure the future, but their actions seem designed to mortgage it.

#TheJokeIsOnUs