Below is the press release from the Centre for Policy Development for the launch ofÂ my “mini-book” on debt. Please pass the news on, andÂ I hopeÂ to meet some of you at the launch.
You load sixteen tons, and what do you get?
Another day older and deeper in debt”
(Merle Travis, 1946)
Australia has been on a 45 year private debt binge that has now reachedÂ unsustainable levels. It’s been going on so long that our entire system is becoming reliant on it: we almost can’t afford to stop borrowing.