Australia’s fake Treasurer, Scott Morrison, has demonstrated yet again that he does not know what he is talking about. From The AFR:
Mr Morrison is talking about APRA’s measures to address the risk associated with household debt and lending.
“Australian household debt has risen over recent years, and is high by international standards, rising some 105% to 123% of our recovery, or $2.1 trillion over the past decade.
“Australian households are now the fourth most indebted in the OECD behind Denmark, the Netherlands and Norway.”
Morrison might want to consult the Bank for International Settlements (BIS), whose latest report on household debt (released last month) clearly showed that Australian households were the second most indebted in the world when measured against GDP, behind Switzerland:
Now get back to paying-off that mega-mortgage!
