[LINK] Aussies rolling in dough, figures show

Martin Barry marty at supine.com
Thu Oct 19 12:03:01 AEST 2006

$quoted_author = "Deus Ex Machina" ;
> Total private sector wealth hit $7,100 billion in the June quarter,
> equating to $348,493 for every man, woman and child.
> The total wealth of Australians is up from $6,900 billion in the March
> quarter, which equated to $337,049 a head.

how are these figures in any way meaningful to the "average" australian?

the reality is that the wealth growth is restricted to those who:

a) owned shares in most anything but telstra
b) owned property in high demand areas (think mosman and paddington, not
   bankstown and mount druitt)
c) leveraged their already significant wealth in business deals

perhaps it should also be prefaced with a different perspective:

"Australia's total household debt is currently approximately $650 billion,
about $32,500 for every man, woman and child." [0]


[0] http://dollarsandsense.com.au/BorrowingAndLending/australians_and_debt.asp

Can't buy what I want because it's free.
Can't be what they want because I'm me.

"Corduroy" - Pearl Jam

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