Article from Jesse's Cafe: http://jessescrossroadscafe.blogspot.com.au/2012/07/median-wealth-and-those-wealthy.html 'Median Wealth And Those Wealthy Canadians' (There's an article in there, but what you'll be interested in is this) Source: I guess Jesse's commentary is worth reading too, if only to get a foreign perspective.
Now lets see if we can have a chart showing personal private debt? I think we may well see that Australia is at the top of the list in that one too. We shouldn't be too bouyed by those figures. Regards Errol 43
It's a graph. From the internet. And like most things floating around the internet I would take it with a grain of salt.
I'd be interested to compare the above graph to the USA, Spain, Ireland & Greece median wealth numbers from 5 years ago. Lot of that supposed wealth is/was in property which as we've seen can evaporate very quickly especially when it is highly leveraged.
Exactly what I was thinking, get rid of our crazy high land prices and I think the graph would be totally different
As an expat Canadian who landed on these shores way back in May 1974 I know that Australia today is much richer than my native land. It didn't use to be that way. When I first came here the standard of living although good was nothing like how good it was in Canada..... Yet I felt I had died and gone to heaven because of the amount of opportunity here if you got off your backside and were willing to work meant that Australia was like the wild west. I remember working for Deli oil in the moomba gas fields in late 74 as a labourer. The boss came up to me and tossed a set of keys at me for a four wheel drive and said I want you to drive 400 kms and relieve the watchman at the pontoon for 3 weeks and radio in at 6 a.m. and 6 p.m. I was 21 years old and had never driven a toyota landcruiser four wheel drive vehicle. I had only ever driven an automatic. No worries said the boss here I'll show you. This is the clutch this is 1st, 2nd, 3rd, 4th gear and this is how you get it into reverse and this is what you call the choke. The vehicle was stationary. As he jumped out he pointed to the map on the passanger seat and said don't go off the track or you will get bogged, I haven't got time to show you how to use the wynch, take a shovel with you just in case. 21 years of age I bucked off into the sunset it took me 200 kms to get the hang of the clutch and the bull dust ensured I used the shovel many times before I arrived the next afternoon. That was Australia, no wories mate she'll be right. Kind Regards non recourse
Canadians now have a better average value than do U.S. customers. The study, released by Environics Analytics WealthScapes, concluded that the average Canadian has a net worth of $363,202, as contrasted to the $319,970 held by the average American consumer. That is a more-than-significant difference of over $42,000. Canadians also have a leg-up on Americans in the employment department. The Canadian unemployment rate is 7.2 percent and falling. The rate in America continues to hover stubbornly at 8.2 percent, hindering further economic growth.
