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Along with a few others like Steve Keen and Phil Soos, this site has spent many years warning about the epic build-up of Australian household debt, which for several decades has risen faster than other Anglosphere nations and is now the second highest in the world when measured against GDP:
Australia’s household debt servicing ratio – which estimates aggregate principal and interest repayments to income and is considered “a reliable early warning indicator for systemic banking crises” – is also the third highest in the world and way above other Anglosphere economies:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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