This is what we're constantly hearing from our Federal opposition leader Kevin Rudd, on and on it goes, ad nauseum, like a broken record, it's like he thinks if he says it often enough we'll believe it and it'll just be true. Maybe he's right, maybe we are all battling, eating out of dumpsters, no future, no money, only lemons, or are we?
AUSTRALIANS' personal wealth grew faster than in any other developed country in the past five years, a new report says. Much of that wealth was amassed as a result of Australia's compulsory superannuation system, the Boston Consulting Group report found. Personal wealth in Australia, measured in US dollars, increased by 19.1 per cent annually in the five years to the end of 2006.Maybe there's another Australia somewhere on the planet, maybe it's that one that the out-of-touch John Howard is presiding over and banging on about, I don't know. Or is it possible that the one braying from the rooftops about John Howard's lack of touch is actually the one who is out of touch? After all, he is married to quite a wealthy woman, so he might not even know what it means to be on struggle street apart from just saying the safe thing, that everyone is on struggle street. Besides if he were to acknowledge the above, he'd also have to acknowledge that John Howard (the 'old leadership') had something to do with this. I don't know about you lot, but if personal wealth is going to grow at this rate, dammit I want more of that tired, old and out-of-touch leadership, not promises of this new-age, wiffle-waffle about revolutions and signing some Japanese protocol.
That rise was more than double the increase in the global average of 8.6 per cent annually. Personal wealth is defined as personal assets under management, including listed securities held directly or indirectly through managed investments, cash deposits and money market funds. It excludes wealth attributed to investors' own businesses, residences or luxury goods. News.com.au.