At risk: Australian household debt flashes red on Morgan Stanley report

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Australia's economy is most at risk in the developed world from household debt building up because of weak house prices and potential tax changes, says Morgan Stanley.

 

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Australians face $700b wealth wipe-out from world's riskiest debt levels: Morgan StanleyMorgan Stanley rates Australia as having the riskiest levels of household debt in the world and winding it back could result in a $700 billion hit to the nation's wealth. A house of cards and set for a bump and collapse. Wonder who’ll pick over the corpse? Remember who was part of the last world crash - Morgan Stanley was one of the mob that caused it. Therefore how can one believe these bastards? Why would you save money? No incentive whatsoever. Taxed on the interest when you save. Debt is encouraged, claim the interest as a tax deduction.
Source: abcnews - 🏆 5. / 83 Read more »