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2nd highest household debt in the world

submitted by UncleDoug to Australia 1.7 yearsSep 19, 2023 18:35:38 ago (+8/-0)     (files.catbox.moe)

https://files.catbox.moe/bqrud1.png



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[ - ] observation1 2 points 1.7 yearsSep 19, 2023 20:34:23 ago (+2/-0)

Wait so debt to gdp

So if i owed a ton of money as a household , we want to compare that to how my countrymen output product?

I mean

Whose idea was it to compare these 2 things?

I suppose theyre trying to standardize it based on normalization of expected debt

But thats a huge leap.

This chart is for jackasses


They aught to do this again based on household income not gdp.

Australia may still come out on top but at least its relevant data.

[ - ] UncleDoug [op] 1 point 1.7 yearsSep 19, 2023 23:12:43 ago (+1/-0)

Wait so debt to gdp

Because it accurately measures your CPI (Consumer Price Index). It doesnt matter if your country is wealthy if your wages are realitvely low (or has low growth not matching ingflation) and the cost of everything is grossly unaffordable, because you have little purchasing power and are mostly concerned with minimum food requirements, utilities and rent.

[ - ] oyveyo 1 point 1.7 yearsSep 19, 2023 20:41:54 ago (+1/-0)

The United States is #12 on that list. Come on folks, we can do better! Let's pull together and make it to #1

'Murica, Fuck Yeah!

[ - ] Kozel 1 point 1.7 yearsSep 19, 2023 18:40:42 ago (+1/-0)

what happened to ireland?

[ - ] mxcviel 1 point 1.7 yearsSep 19, 2023 19:07:57 ago (+1/-0)

Last time I checked, a "thriving tech scene, home to high-tech brands Google, Facebook, and Twitter", and all those amazing startups related to this cancer

[ - ] correctness 1 point 1.7 yearsSep 19, 2023 19:36:22 ago (+1/-0)

This chart shows raising rent and immigration problems.

So what you don't understand?

[ - ] Kozel 1 point 1.7 yearsSep 19, 2023 20:13:26 ago (+1/-0)

why did ireland dip more than everyone else

[ - ] observation1 1 point 1.7 yearsSep 19, 2023 20:38:32 ago (+1/-0)

Reads like ireland immigrants didnt get approved for credit cards to bring avg "household" debt down but they filed taxes.

[ - ] Hall_of_Cost 0 points 1.7 yearsSep 19, 2023 22:04:31 ago (+0/-0)

Obviously the answer is just print more money and give it to people with debt. Boom, debt disappears. They did it in South Africa, I think, and their debt is only 35%.

[ - ] correctness 0 points 1.7 yearsSep 19, 2023 23:19:07 ago (+0/-0)

People don't buy real estate anymore, because are afraid, it can lose value in 10 or 15 years because immigrants are turning Ireland in to shithole.

[ - ] Clubberlang 0 points 1.7 yearsSep 19, 2023 22:17:49 ago (+0/-0)

Enriched utopia goy! Kvetch!

[ - ] Special_Prosecutor 0 points 1.7 yearsSep 19, 2023 22:41:20 ago (+0/-0)

Each nation's debt must be factored in to normalize household to household equivalency between countries.

I think this article does not transfer national debt into household debt. https://www.usdebtclock.org/world-debt-clock.html

Japan is ranked 22nd in the referenced article for Household debt to GDP. But Japan's overall government debt to GDP blows it out completely. So what if the citizen population is frugal while their government in bankrupt.

[ - ] Clubberlang 0 points 1.7 yearsSep 19, 2023 22:16:59 ago (+0/-0)

Looks like you're gonna need some basic income and a social credit score to fix this.

As long as your vaccinated and up to date of course with your boosters.

Enjoy the hell you created for yourselves that you could have fought against 3 years ago.

But blind compliance was the easy route in such unprecedented times.

And of course "yoo wererah jess doowin yah jawhbz" and "yoo had noi choyce!"

You're country is going to fail because you did nothing to stop it.

[ - ] HeyJames 0 points 1.7 yearsSep 19, 2023 22:02:55 ago (+0/-0)

Why debt to GDP instead of something like average debt to income ratio?

[ - ] UncleDoug [op] 0 points 1.7 yearsSep 19, 2023 23:14:15 ago (+0/-0)

Because it is a measure of your purchasing power by understanding how much of your income is available for spending outside of bills.