Not at all surprised, Aussie's have been living well beyond their means for years, no one is prepared to wait/save for anything, we want it now, and to reinforce the fact, this, re kids and smart phones (perhaps dumb parents)
G'Day Santa, the first link won't work for me but anyway I guess we are awash with debt because of the massive mortgages we have to take to buy a home.
Good articles however.
Regards
To get it all in some perspective ... this is the amount of debt in Australia - Government debt/Mortgage debt/Personal debt.
It shows that the huge debt this country suffers (enjoys?) is tied up in property. This is why Treasury is worried about the "property bubble" ... should it 'burst' our economy will be in considerable discomfort.
That doesn't detract from the cost (and probably debt) that youth are attracting to their "social media" activities rather than have a "life".
Cheers - John
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2006 Discovery 3 TDV6 SE Auto - 2008 23ft Golden Eagle Hunter Some people feel the rain - the others just get wet - Bob Dylan
G'Day Santa, the first link won't work for me but anyway I guess we are awash with debt because of the massive mortgages we have to take to buy a home. Good articles however. Regards
There was a problem with the link Hako, think I've fixed it.
