House­hold Debt: US vs Aus­tralia

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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.

House­hold Debt to GDP, USA & Aus­tralia