http://www.zerohedge.com/news/2017-08-02/aussie-war-cash-tsar-consumers-are-part-problem
*news source via @zerohedge
Remember that there was once a time when, you are able to save your hard earned income for a rainy day?
Apparently now in the eyes of the newly formed Black Economy Taskforce lead by a Mr. Michael Andrew has indicated and suggested that it is Criminal to have sums larger than "un-determined" amount in AUD$100 & AUD$50 "tucked away" from circulation for more than an unspecified amount of time...as it could potentially impede accessibility to those funds that could be used to fund "welfare" & "other" service..?
Duh...shouldn't that then be an issue of what and how the Australian Taxation department collects and redistributes the income back into the system?
• there's already studies that find that almost 30% Australians do not have more than $500 in case of an emergency, as per article attached:-
https://www.finder.com.au/press-release-may-2016-rainy-day-savings
Based on my brief research into this matter and understanding, I have found information that the Australian Economy is in dire-debt as per below official site
http://www.australiandebtclock.com.au/
https://www.businessinsider.com.au/chart-the-incredible-rise-in-australias-debt-to-gdp-ratio-2016-6
With a GDP ratio of 256% vs National Debt of an approximate AUD$6.4 Trillion...#Crickey-Mate! It would be interesting to know how did this Monstrosity of a DEBT actually got that big especially with only a total population of 24 million people...
Reminds me of how Rome fell...an ever growing public sector with privileged income and unlimited spending capacity and a dwindling private sector that cannot generate sufficient income to appease the Deflationary whips generated by the Growing Spend of the Gubrement branch...
Perhaps Mr Michael Andrew would like to maybe review the fact that his current time spent on this Black Economy Taskforce should be considered as a result of how much money and time is being wasted on curtailing how much individuals are allowed to save privately and not spending more resources to resolve the root of why there's NEGATIVE INCOME within the Australian Budget (OVERSPENDING)...cutting out the Consumer factor within the Economy will only lead to a Vacuum to the Income generating system...
Understanding that you can only save $1 a day, it would take you 1million days to save $1Mil...but if you spent $1Mil a day an can only save $1 a day you are already $999,999 in DEBT the 1st day.
#teamaustralia beware...this has dire consequences and Detrimental effects to the future stability and sanity of our proud country....before it becomes Australianistan.