Have we taken over from the USA as being the biggest spenders?...

Have we taken over from the USA as being the biggest spenders? http://money.ninemsn.com.au/article.aspx?id=988071

"It's the first time household debt has cracked 100 per cent of annual GDP and it's a terrible, terrible sign," University of NSW economics professor Steve Keen told News Ltd.

Do the property bulls really think that properties will keep rising as interest rates keep rising......oh yeah, I forgot, population growth.