The Australian S&P 200 is down nearly 6% on YTD - against slight rises overseas for S&P 500 also FTSE
Financial wealth of Australian households slumped sharply in the June quarter to a one-year low; shares, savings accounts and loans all down.
Debt-free households in Australia are also at a nine-year low. Only 36.2 per cent of households held no debt in the September quarter, lowest since the series began in 2001.
Is anyone out there really concerned about normal Australians (non boomers) - individuals, households and businesses?
As most of us are doing it tough - Wayney last night talks up our wonderful debt, at the same time the Reserve Bank plods on with rate increases.
The ratio of household debt to disposable income hit 159 per cent in the June quarter, the highest on record. But its not only mortgage debt, its the price of things we buy regularly, such as food & electricity, that have risen the most. Since 1990 Food prices have risen 87 per cent and electricity 124 per cent Many Australians would be vulnerable to those interest rate rises coming.
Federal Treasury has warned both political parties to buck up on their policies. Warning Julia that the $43 billion national broadband network carries ''significant financial risks;'' at the same time Tony has been warned that his climate policy would be more expensive than a carbon price.
Can sanity reign? Can these two Kilkenny Cats drop their take no prisoners routines? Can the Independents forget their egos?
