Just for info sake I have no debt am in my 30's own my house nd have quite a bit in cash and investments.
My response was to the intial post
"You want to see Greek style riots on the streets of Australia then give Kev another go at the next pol. Alarmist you might say - well maybe, but while Kev and Swan keep telling us that our debt is amongst the lowest in all "leading" or "advanced" global economies, our debt continues to climb at alarming rates."
I dont think we need Greek style riots if Kev was re-elected from where we stand at the moment...if things were to deteriota to where greece is then I am a firm beleiver than nothing strengthens authority more than silence and would like to see the people make a stand for what they beleive. The greeks need to take their medicine so in a nutshell i think what they are doing is a little silly.
I would be interested in you comparing our debts to the debts of other leading/advanced economies as the original poster stated, if you can be bothered.
I also think the rise in personal debt is predominately from the property market and was created under the howard govt by not regulating lending enough, halving the cgt, fhog etc etc The labor govt should have slwoly defalted the bubble but they didnt, i have a feeling its getting closer and closer to us having major problems.
