Australia Household Debt substantially revised down

[buzzlightyear]

In the article below, it seems as if the ABS has found missing assets in their calculations which has dramatically reduced household debt. This has been one of the key arguments supporting the fragility of the Australian household and consumer to future economic shocks.

Yet again, we find our economy, households and businesses far more resilient and responsibly positioning themselves in the current environment. Not quite the doomsday predictions of many....

http://www.theage.com.au/business/t...lias-wealth-jumps-by-325b-20120927-26ngo.html

 

[Aaron Sice]

lies, damn lies and statistics, eh?

 

[Indifference]

BS..... as soon as I read "average" I said BS....

So the top 1% have an extra stash they didn't include.... that doesn't help the "average" Aussie one bit. Averages are so irrelevant it just isn't funny.... anyone with a good grasp of even grade school math knows that.

"The revision is worth roughly $14,380 for every one of the nation's 22.6 million people..."

BS

The revision is worth nothing to most of the nation's population, because they don't own any shares!