Submitted by Tyler Durden on 10/01/2012 19:31 -0400
Asset-Backed Securities
Aussie
China
Reuters
Unemployment
In what could easily be a Friday Humor post, Reuters reports that the Aussie government's statisticians, taking a page out of the German's 'creative' accounting book, have found an additional $338bn of assets for the nation. 'Cheers' all around as the Australian Bureau of Statistics (and Lies) revised household wealth up by AUD14,380 for every one of the country's 22.6 million people - as new estimates of unlisted shares and other equity pushed the nation's total financial assets to AUD3.1tn (compared to an originally reported AUD2.77tn. As the miners from down-under continue to struggle against a fading China, this miraculous 'find' has dropped the ratio of debt to liquid assets from a worrisome 170.1% to a meager 129.1%. Rumors are circulating that the ABS is now looking for the ark of the covenant, the philosopher's stone, and Shangri-La.
Via Reuters:
http://www.zerohedge.com/news/2012-10-01/australian-government-finds-extra-338bn-assets-no-unicorns-yet
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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