'According to today's paper Australian's wealth dropped 27% due to the GFC, the third worst after only Britain and Sweden. '
Good old statistics. Australian wealth dropped by so much purely and simply because every Australian has money locked up in super funds and the super funds have performed terribly. For your average Australian none of these funds are accessible anyway, so it makes jack difference to your average Aussie that they are conceivably 27% poorer. What hurts most is increased unemployment, high interest rates, goods price increases. Overall, in this GFC crisis I dont think Australia has performed too badly, do you?
