It is estimated that in the last 18 months, the world has lost 40% of its wealth. How the so-called experts arrive at that figure I have no idea.
The starving millions in Africa, South America, India and other deprived areas of the world are in no different position then they were 18 months ago or 5 years ago or 10 years ago. They were on the bones of their bums then and still are today.
So if those huge areas of the world’s population have not seen their net worth reduced and the world has lost 40% of it’s wealth on average, then those of us in the affluent world must have lost a hell of a lot more than 40% of our wealth. I can relate to that!
Our houses have dropped dramatically in value – our equity investments have tanked – our fixed interest investment portfolios have diminished in value and frankly – we are all feeling somewhat battered and bruised.
Sometimes we think: “how could things be worse?”
Well for a start we could be in rural Victoria. We could be in a shelter having lost our homes and several relatives and friends. In fact we could have lost everything.
And the truth is – we haven’t.
My son, who works for the Victorian State Treasury and is on call waiting to head into the affected area, says it is chaotic in rural Victoria. It is a sad sad scene. His girlfriend, a Doctor at the Alfred hospital is working long hours dealing with the burns victims. Who would swap places with her?
My daughter is at the Royal Melbourne hospital. That institution is also seeing the results of these horrific fires.
In Victoria hundreds of people have lost their lives. Thousands more have lost everything they ever owned. The State of Victoria is a ravaged and devastated disaster area.
And we are worried because our assets are worth a little less then they were worth 18 months ago.
Most of us still get three meals a day – we sleep in comfort at night and just occasionally we might have a wee drink or two.
I think people in rural Victoria would think that’s not a bad place to be right now.
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