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914 Posts.

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10/06/19

17:06

Post #: 38988876
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Originally posted by Swage_17: ↑

That doesnt seem right. 6 trillion in debt? Certainly not the government debt.. even with household debt I would have thought it wasn't going to be that high. In any case, I'm sure if a long historical chart was looked at the total assets would have increased too. E.g. houses worth much more than 10 years ago. Graphs like this make it look like the sky is going to fall and isnt a balanced representation of what's really going on. The debt to GDP ratio for example gives a more balanced perspective.

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https://tradingeconomics.com/australia/government-debt-to-gdp

"Australia recorded a government debt equivalent to 40.70 percent of the country's Gross Domestic Product in 2018. Government Debt to GDP in Australia averaged 23.71 percent from 1989 until 2018, reaching an all time high of 40.70 percent in 2017 and a record low of 9.70 percent in 2007"
So basically, Debt to GDP is now at all time high

XJO Value at posting: 6,443.9
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