Now that we have sorted some language road rules and local body language; Here is something for the Yanks.
Not only does Australia fight all you wars for you; knowing you are going broke, we have just lent you $51 Billion (AUD; $70cAU =$1US)
This, the proceeds of the last three budget surplices and the sale of the publicly owned "Telsra" back to the public.
(We decided
not to spend these- Chinese Economic Miracle Windfall Budgets-on eduction, health, science, research & welfare as they are all rolling in money already)
Prime Minister Howard affectionately know by his adoring fans as "Bonsai" (=little Bush) has set up a fund to
ensure future payments of retired politicians and public service pensions. (In case some future Oz government goes broke- you never know with labor in the wings!)
Quote:
Future Fund managers face Labor grilling
May 22, 2007 -
Treasurer Peter Costello has backed the appointment of a foreign custodian to the nation's $51 billion Future Fund.
But managers of the fund face a grilling from Labor senators on Tuesday on the decision to appoint Chicago-based Northern Trust, which has no presence in Australia, as its global custodian.
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Future Fund managers face Labor grilling - Breaking News - Business - Breaking News
Hailed here as a brilliant stroke of "good-economic management" ( a quality the Howard Government is famous for ); Howard chose the well -respected American Company
Northern Trust to administer the fund. Northern Trust is known for the excellent job they do managing pension funds.
Quote:
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Northern Trust was the trustee of the Enron pension fund and some 20,000 employees lost up to $US1.6 billion ($1.95 billion).
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Northern Trust wrongly vilified - Future Fund | NEWS.com.au Business
