"So you are saying its just media scare mongering and nothing do with people being in debt upto neck (mortgage/harvey norman/CC/car etc)?
whats your reason for other points I raised in my post?
My point is developed nations are over-extended, thier personal debt, government debts levels are ballooning, with no savings they rely on external funding, and to attract investments they will have to raise interest rates."
That is not what I said, and I was only commenting on the one specific point. Sure debt levels are high I don't disagree with that, and I also agree that I expect rates to rise (and yes the media is very good at finding these people). My point was that the ones that we hear complaining about every little rate rise are a vocal minority that in many cases just complain about every little thing in their lives. Small adjustments here and there such as stop buying lunches etc will allow the rate rise to be covered, and will have the desired effect of taking money out of the economy and controlling inflation.
