There goes the neighbourhood | Steve Keen’s Debtwatch

Since deleveraging results in falling asset prices as well as rising unemployment, it is unlikely that even substantially lowering interest rates will encourage Australians back into debt once more. Australia’s apparently stellar economic performance over the last 2 decades, which was primarily driven by accelerating private debt, may soon drop back to the pack now that the inevitable deleveraging can no longer be delayed.

via There goes the neighbourhood | Steve Keen’s Debtwatch.

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