For every $100 we earn, we owe $130

• 21 June 2006

• #1

krisbarry

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This is scary

 

• 21 June 2006

• #2

The Mint Man

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7 May 2006

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Re: For every $100 we earn, we owe $130.

Stop_the_clock said:

This is scary

Click to expand...

hmm

 

• 21 June 2006

• #3

Smurf1976

Joined

14 February 2005

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No doubt directly related to the boom where you pay three times as much for the same house.

Ultimately, the debt's value will be inflated away via large wage rises or the debt itself destroyed in a deflation. Actual repayment is pretty unlikely.