I believe Glug is correct.
I posted this on another thread a few minutes ago:
We look to have the 5th most household debt vs gdp in the world.
https://www.ceicdata.com/en/indicator/australia/household-debt--of-nominal-gdp
Home ownership rates are also falling and the banks own more and more of them.
https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure
The government debt is also increasing.
https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/BudgetReview202122/CommonwealthDebt
How this plays out in the future? I would imagine that it does not end well.
When it blows up though could be anyone's guess.
It does seem to be spiralling out of control under the libs watch.
