-- CREDIT--

[poddster]

If all your credit cards, loans, and mortgage were called in and you had to finalize them all  by the end of  the financial year (30th June) where would that leave you and what would you do to pay your debt? 

[poddster]

No where in the opening post is there a request for an explanation. Neither have I implied judgement. 🙂

[freakiness]

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@poddster wrote:

No where in the opening post is there a request for an explanation. Neither have I implied judgement. 🙂

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The assertion that people are going into hock instead of living down the back of the parents house (or whatever the exact phrase was) is passing judgement.

[poddster]

How is everyone's credit level today ? 🙂

[i-once-was-bump]

If we all put more money in the bank and left it there any government could borrow from within Australia instead of overseas and things would be a whole lot better.

No I don't have any links or statistics or proof, just a memory from high school economics.

Any country/government that borrows from within will always be able to carry more debt than a country that borrows from overseas so a much smaller debt by Australia is more catastrophic than a large debt by Germany if we borrow from overseas and the Germans borrow within.

I keep getting interupted while I try to type this so I will give up now because I can't get back my train of thought.

[poddster]

Bump, that is how it used to be in the past, but demand for fast and continuous large growth rate has distorted logic and common sense.

We are inexorably being owned, and that is not too far into the future 😞

False ecomomy

[tcmsecretuseid]

I can pay my personal debts. I have no idea how I could begin to pay my "portion" of my State debt, let alone the debt of my country. 

I do think that I should probably start learning to speak Chinese. I can say, Hello, and thank you. 

[poddster]

Have you checked your credit liability today?

[poddster]

Any improvement on your credit liability today?

[siggie-reported-by-alarmists]

Well.......I got the printing machine going and cranked out a lovely crisp fresh batch of 100's......

[poddster]

Seems like the United States epidemic is spreading 😞