Sunday, December 27, 2009
My Soapbox for the Day
Today's news bulletin carried the headline that Australians have the highest personal debt on record with household debt now higher than what the entire country earns annually. Household debt includes mortgages, personal loans and credit cards.
I could rant on and on about 'don't buy what you can't afford' and 'living simply' and my current bug-bear 'the commercialization of Christmas' (and yes I know the debt figures don't include the Christmas spend) but I think I would be blowing in the wind.
Suffice to say that any potential lessons to be learned from the infamous GFC seem to have been lost - maybe we really did need to have a deep recession to make people listen.