It'll make you realise you should have been worrying much more all through the 1910s, 1920s, 1930s, 1940s, 1950s, 1960s, 1970s, 1980s and 1990s:
Thanks to Bill Mitchell for reminding me.
The source is the Treasury itself. I wrote about it at the time here, as it happens earning a Saturday morning phone call expressing the Opposition's displeasure.
STOP PRESS: The Parliamentary Library have just put out a paper on the topic.
5 comments:
But surely with the government guarantee on the bank debt this should be moved into public debt. The government liability increases from 3.2% of GDP to 73.3% of GDP.
Or isn't the government guarantee a real guarantee?
Its private debt that I'm worried about. I dare you to post a private debt to GDP chart, or do you subscribe to the theory that private debt doesn't matter?
He subrscibes to the theory that whatever tha Labor party does matters little.
I don't think either matters much in and of itself.
Although I understand that markets may (suddenly) take a different view, which would make my own thoughts beside the point.
I'll look for a private debt graph.
Haha, what a useless chart. We all know we had no real deficit in the decade up to 2008.
Consider this: 2009 onwards, debt balloons whilst GDP shrinks.
Stop dwelling on the 1998 - 2008 decade and think about the future.
Show me this chart in 10 years time.
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