Quote:
Originally Posted by casstony
Bo, the article you refer to conveniently leaves out the fact that most Australian debt is in private hands.
If one has $500,000 worth of assets but $400,000 in loans, the net wealth is $100,000. Several years of declining property values could see that wiped out and if your job disappears you're suddenly bankrupt.
Take a look at 100 years of Australian house price history, look at what happened in Japan and the US real estate over the last two decades and assess the likelyhood of world economic recession given levels of debt in the worlds major economies.
Life is pretty good for most of us right now but that does not reflect conditions in the rest of the world, conditions that will impact on us sooner or later.
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Tony, you are confronted with ALL that overwhelming positive reality and agree with it ...but you still manage to start your response with a negative
Aussies who complain about things here are simply just not living in a relative reality and in globally relative terms are little different to a mega wealthy super star who complains that their lobster is not served at the right angle in a restaurant
If you are sick in Australia you can get excellent health care, if your parents are a bit cash strapped but you want to succeed your education is free for 12yrs and high quality, if you are a woman and and want to succeed you can (and even become head of a nation), you will have money when you retire, if you want a hot shower you have it, if you want to flush away your turds you can, if you are having a rough patch in your life there is an excellent social safety net, if you are being abused it can be stopped, if you want to vote a particular way you can etc etc friggin etc
One little thing to add, many people like to bag China and speak negative about dealing with them but just remember this, a person on the average wage in Beijing can afford 62% less goods and services than a person on the average wage in Sydney.
Smile and just realise how good it really is here...
Mike