Straya wins silver in the global debt race

Fascinating chart from Susan Lund at McKinsey Global:

Since getting the gold medal is all that matters to Australians, what can be done to get back on top? Corporate sector? Nah. Lazy balance sheets reflect lazy attitudes to risk taking. Households? Maxed out! Government?

Oh yes. Lots of room for that to move in the “Right” direction. Deficits will pile on as the mining capex cliff beckons and mineral receipts plummet.

You can do it Australia! Go for gold!