household debt us vs australia we are doomed

Oh the liberal govt has liberated us from our national debt, how fantastic, its just that we all carry that debt personally.
This country is stuffed, you debt junkies are gonna blow up...dont say you werent warned

Household Debt: US vs Australia

March 15th, 2007

As part of the background to the LateLine interview yesterday, I graphed the US household debt to GDP ratio against the Australian. All the news recently has been about the sub-prime crisis in the States, of course: but guess where household debt has been growing fastest? That’s right, good old Australia has out-done itself once more. The accompanying graphic tells the story, which I’ll embellish in the next Debtwatch report in early April.


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