Wednesday, November 14, 2007

Good article about debt in Australia (12 months old)

Economist says debt levels more dangerous than inflation

Dr Steve Keene, Associate Professor of Economics and Finance at the University of Western Sydney, with that dire prediction of a deflationary bust 12 months ago.

Posted by sold 2 rent 1 @ 12:10 PM (588 views)
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One thought on “Good article about debt in Australia (12 months old)

  • Quotes

    “So whatever policies the bank has been following for the last 40 years have had no influence on the level of debt. And I think this blind spot is now… you can’t afford to have that blind spot anymore when your debts are one-and-a-half times your income.”

    “So you can actually be in a recession and debt levels are still rising (for 2 years approx.), simply because of the momentum issue that’s involved in debt. And, unfortunately, far too many people know what I’m talking about now.”

    Debt levels did not peak until 1933 in the US.

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