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I'm not overly concerned; Household debt has not risen any faster than household wealth. Debt however has risen faster than disposable income, so servicing becomes a problem in relation to taking on more debt. That is why savers need to start moving the money via some other mechanism than putting in the bank and having a borrower pay interest.

There is also a financial stability problem in that household debt spent on owner occupied housing is not self-liquidating. Hence rising unemployment could cause a financial shock (not the end of the world) but painful especially to banks and those directly affected.

Ps those asking questions of me should realise I’m just making this stuff up based on what I see around me in an attempt to understand the world I live in. I like everybody else don’t know nothin about the future.