Yes I saw the figures of household debt this morning and I think it said nearly 200% of debt to income which is the highest for Australia on record.
These world economies are existing purely on money supplied by CB's in the form of QE, share buying, bond buying.
Sooner or later the skeleton will collapse. Could be the housing market, could be that the real cost of living is getting so high people will just stop most discretionary spending. Canada's CB has just raised rates. The housing market in Canada is falling quite spectacularly in a lot of places. Some places are holding up but a lot are not which is pretty much on par for the market when it has been artificially pumped up.
