bearishbull
Registered User
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- 207
personal debt levels are at around 120billion and is growing as 29% per annum! even if it slowed to 25% and grew at this rate for next decade to keep pace with house price growth etc predicted by ncb et al then we would owe a trillion euro at that stage!! thats 200k for every man woman and child! average couple with two kids would owe 800k! servicing the debt alone at 5% would cost 40k a year! so when do you see the massive growth in the debt mountain slowing down? as rates rise in next 2 years or will the binge continue untill we are swamped with debt and economy comes off the rails?