Greg Jericho asks the right question today:
Our economic growth since the 1990s recession has been largely built on household debt. When the level of debt in relation to income has not grown, this has generally meant the economy is in a slump – such as occurred in the early 1990s, during the GFC, and 2010-2013.
A stable debt to income ratio has not necessarily meant we’re in a recession, but it generally has not been an arbiter of good things.
