When Will This Insanity of Debt-Dependency End?
We’ve been a lucky country in many ways. We managed to ride an unprecedented property boom back then given the Reserve Bank of Australia reduced the interest rate and our government spent billions propping up our economy. For this, many Australians are complacent about what could happen in the future. Even the rapid interest rate rises in the past year haven’t really hit home yet. But should the economy slow down significantly as the fallout of rising interest rates and mortgage repayments hit, would these be enough?
