• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Australia: Better then Swiss standard!

Ash007

Alfrescian
Loyal
Apparently we are wealthier then the Swiss. That is if there is no housing collapse here.

http://www.smh.com.au/business/the-economy/property-makes-australians-the-world8217s-richest-says-credit-suisse-20141014-1163ip.html

Property makes Australians the world’s richest, says Credit Suisse
Date
October 14, 2014 - 9:41PM
556 reading nowRead later
Patrick Commins
Deputy Markets Editor
View more articles from Patrick Commins
Follow Patrick on Twitter Email Patrick
Twitter

inShare
submit to redditEmail articlePrint
'Remarkable figures': Property is at the heart of Australia's wealth, Credit Suisse reports.
'Remarkable figures': Property is at the heart of Australia's wealth, Credit Suisse reports.
Thanks to their houses, Australians are the richest people in the world, according to the investment bank Credit Suisse.

The fifth annual study by the Swiss bank of global wealth trends found the median Australian adult was worth more than $US225,000 ($258,000) in June, well ahead of the second wealthiest population on this measure, the *Belgians, at $US173,000.

They were followed by the Italians, French and British, all at around $US110,000.

Only 6 per cent of Australians have wealth below $US10,000, compared with 29 per cent in the United States and 70 per cent for the world as a whole.

Household wealth in Australia is heavily skewed to "real assets" – essentially property – which average $US319,700 per household, or 60 per cent of gross assets. This is the second highest in the world after Norway.

The 2014 Global Wealth Report shows global wealth is 20 per cent above its pre-crisis peak and almost 40 per cent higher than the low recorded in 2008.

Australians have grabbed more than their fair share of the growing pie. The section of the report on Australia is titled "No worries", a headline that some economists may take issue with but which is deserved based on the rapid and almost uninterrupted accumulation of wealth over the past 14 years, as detailed in the report.

Since 2000, the net wealth of the average, or mean (as opposed to median), adult Australian has more than quadrupled, from $US103,151 to $US431,000. That makes us the second richest population on this measure, behind the Swiss at $US581,000.

Over the past 12 months, average adult wealth has grown 5 per cent.

"These are obviously remarkable figures for Australia," Credit Suisse Private Bank chief investment strategist David McDonald said.

"We are well positioned globally in terms of wealth, as well as the spread of wealth."



Dollar driven
The appreciation of the currency has been a considerable tailwind over the period but even in constant currency terms, average wealth has grown 145 per cent over the past 13 years to $US369,000 from $US151,000.

While global wealth has increased, the gains have not been spread evenly, with the report finding that the trend since 2008 has been one of increasing inequality, particularly in developing economies.

"The financial crisis has acted as a breakpoint in inequality, as most countries were showing a flat or declining trend before 2007," said Markus Stierli from the Credit Suisse Research Institute, which published the report.

Australia is classified a "medium *inequality" country by the Credit Suisse researchers, a group that includes New Zealand and is defined by the richest 10 per cent controlling between 50 per cent and 60 per cent of the country's net wealth.

Among developed economies, Hong Kong, Switzerland and the United States are deemed to have "very high inequality", where the top 10 per cent control more than 70 per cent of the wealth.

This is borne out by the average wealth figures of the US. Median adult wealth in the world's largest economy stood at only $US54,000 – well out of the top 10 richest populations.

But when measured on an average – or mean – basis, the US ranked fourth in terms of household wealth at $US348,000.

Bank of America Merrill Lynch chief economist Saul Eslake attributed *Australia's relatively even spread of wealth in part to its love of property.

"Rising house prices tend to reduce inequality, as they make up part a greater part of middle class wealth," he said.

But with growth in house prices and sharemarkets expected to be more muted over coming years, and with the currency weakening, growth in net wealth can be expected to slow, Mr McDonald said.

Globally, the mean average per adult reached an all-time high of $US56,000, an increase of $US3450 over the previous 12 months, driven by higher share prices.



Read more: http://www.smh.com.au/business/the-...dit-suisse-20141014-1163ip.html#ixzz3G9uP73qD
 

frenchbriefs

Alfrescian (Inf)
Asset
worthless.....inflation nia,sinkies are also very rich real estate wise but they cannot even afford 3 meals at food court or restaurant.
 

neddy

Alfrescian (Inf)
Asset
worthless.....inflation nia,sinkies are also very rich real estate wise but they cannot even afford 3 meals at food court or restaurant.

Salaries in Australia has kept up with inflation until this year.
So, disposable income is still relatively high.

The highly paid ADF only get 1.5% but why are they complaining despite the pref tax treatment and generous allowance.

As for Singapore, the shared prosperity of the past is now transformed into the shared debts for the future.
to have the 10% owning so much of the economic pie is the reason for revolt. Once Gini coeffi. >5, the protesters show up.
 

krafty

Alfrescian (Inf)
Asset
from what i know, i have many peers who make more than 10k a month, i think that's considered good. they are staying in private apartments and are living the high life. some own more than one property. s'pore is indeed a place where one can find their 1st bucket of gold.
 

Ash007

Alfrescian
Loyal
according to the article, Singapore is classified the same as Australia at around >50% inequality.

Salaries in Australia has kept up with inflation until this year.
So, disposable income is still relatively high.

The highly paid ADF only get 1.5% but why are they complaining despite the pref tax treatment and generous allowance.

As for Singapore, the shared prosperity of the past is now transformed into the shared debts for the future.
to have the 10% owning so much of the economic pie is the reason for revolt. Once Gini coeffi. >5, the protesters show up.
 

krafty

Alfrescian (Inf)
Asset
australia is rampant with racism, can't blame them,, they are descendants of ex-cons from england. now, i won;t want to return if given a choice.
 

TracyTan866

Alfrescian (Inf)
Asset
Australia is indeed the best. Australians are very lucky to have Australia and a govt that's of the people, by the people and for Australians.

Singapore is very unlucky to have the pap
 

neddy

Alfrescian (Inf)
Asset
according to the article, Singapore is classified the same as Australia at around >50% inequality.

That is the Fairfax newspaper opinion and they are right.
Singapore Gini index is below .5. HK went past it several years back.

The question is overall, has Singapore starting pay went up over the past 20 years, adj after inflation.

Australia has, but the education system are not producing work ready employables, so the youth jobless rates is high.

The digital revolution is making winners out of STEM (Science, Tech, Engrg,Maths ) grads. The rest of the people fall behind and turn socialist to get a piece of pie.

Recently, a Perth-Sydney web startup is bought over for $8mil by a US company, shared by 3 partners. The young Thai immigrant is set for life.
 

neddy

Alfrescian (Inf)
Asset
australia is rampant with racism, can't blame them,, they are descendants of ex-cons from england. now, i won;t want to return if given a choice.

Not as racist as Singaporeans. I don't employ certain Angmohs.

from what i know, i have many peers who make more than 10k a month, i think that's considered good. they are staying in private apartments and are living the high life. some own more than one property. s'pore is indeed a place where one can find their 1st bucket of gold.

How many? The best combination is a young FT from an Angmoh land taking opportunities in Singapore. Because he know the competition back home to earn this starting pay means he is better off in Singapore.
The only young blokes in OZ earning that kind of money are unionised labourer bogans, miners and doctors.

So far, the doctors and lawyers are doing well, the bogan earning $180,000 a year need to borrow money from his father to survive bankrupcy over his consumption lifestyle.
 
Last edited:

TracyTan866

Alfrescian (Inf)
Asset
That is the Fairfax newspaper opinion and they are right.
Singapore Gini index is below .5. HK went past it several years back.

The question is overall, has Singapore starting pay went up over the past 20 years, adj after inflation.

Australia has, but the education system are not producing work ready employables, so the youth jobless rates is high.

The digital revolution is making winners out of STEM (Science, Tech, Engrg,Maths ) grads. The rest of the people fall behind and turn socialist to get a piece of pie.

Recently, a Perth-Sydney web startup is bought over for $8mil by a US company, shared by 3 partners. The young Thai immigrant is set for life.

I am impressed with Perth, Melbourne, Sydney and Australian in generally. They have a good work-life balance and work attitudes. They are set for life. Australia will still be around in 50, 100 years. Will SG be around in 50years?

Many foreigners and visitors are deceived by what they see on SG's surface. The rot is bad in the inside
 

Ash007

Alfrescian
Loyal
Yes its strange they don't mentioned the GINI index for Aussieland.

That is the Fairfax newspaper opinion and they are right.
Singapore Gini index is below .5. HK went past it several years back.

The question is overall, has Singapore starting pay went up over the past 20 years, adj after inflation.

Australia has, but the education system are not producing work ready employables, so the youth jobless rates is high.

The digital revolution is making winners out of STEM (Science, Tech, Engrg,Maths ) grads. The rest of the people fall behind and turn socialist to get a piece of pie.

Recently, a Perth-Sydney web startup is bought over for $8mil by a US company, shared by 3 partners. The young Thai immigrant is set for life.
 

neddy

Alfrescian (Inf)
Asset
Australia is indeed the best. Australians are very lucky to have Australia and a govt that's of the people, by the people and for Australians.

Singapore is very unlucky to have the pap

Why unlucky? Krafty wrote about high salaries, OZ expats love Singapore.
 

krafty

Alfrescian (Inf)
Asset
my nephew hooked up with an aussie woman, we were out in the city and you can sense and see the big eyes staring at them. it happened more than once. what's wrong with fucking an ang mo char bor, right?

moreover, my niece is so influenced by the aussie pple and culture that it seems to me aussie are quite wicked pple.
 
Last edited:

neddy

Alfrescian (Inf)
Asset
Yes its strange they don't mentioned the GINI index for Aussieland.

You can get the figures from Treasury. It has been revisec upward recently to .32.
But the Poverty lobby group has been very active, they should not use a poor woman who drives a late model Toyota Corolla, for an example of poverty in Australia.

You know how sensitive these bleeding hearts get.

I fear for the day real poverty set in. They will turn barbaric
 

potato29

Alfrescian
Loyal
Australia is indeed the best. Australians are very lucky to have Australia and a govt that's of the people, by the people and for Australians.

Singapore is very unlucky to have the pap

if their govt not for Australians they get voted out.
 
Top