Jessica Irvine from the SMH has written an excellent piece with this headline in today’s SMH. I’ve linked it on the blog roll, but it’s linked here too for quick reference.
Â My Debtwatch report will be very brief this coming month: I’m off to the USA tomorrow for some conferences, and I’m “under the gun” to produce papers and presentations to suit. I also won’t be available for comment at the time of the RBA’s next meeting–which is of course highly unlikely to move rates in either direction.
Debt however continues to rise, though somewhat more slowly than recently: the private debt to GDP ratio is now 153.9%, up 0.9% in a month (whereas it has risen by 14.6% over the past calendar year).