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The answer to that might be more political than economic. I'm out of the ASX except for a few in a speccie miner, until the next election is called. BTW At the beginning of the GFC MOST commentators didn't believe in decoupling, and it is still a bit shaky.

What is important is to be an early mover. BHP,RIO and FMG got their projects up and running early. Whatever happens now will not effect their operations - they will continue producing through any slump. If their profit margins suffer the shareholders and governments (tax gatherers) will suffer...

Joe, I've been here for a looooong time and the other oldtimers know what my answer would be. They disagree with me, and I disagree with them. I don't wish to start another flame war. If that was a serious question and you want a totally free, totally unqualified opinion you will need to PM...

It's not normally the middle class that does this. It certainly wasn't in Argentina way back or the USA recently. In both cases the middle class copped a hiding. The middle class is not "smart money" and they hold their own currency long after the sophisticated have moved their assets o/s. SS...

Stop being a smart a$$.

Would you like to rephrase that so I can resist my urge to respond in kind?

Thanks Stefan. 100% of GDP in Household debt sounds a bit hard to control if the wheels fall off.

Your graph says I'm wrong TC. I'm surprised. To say we're handling it OK is meaningless. The Yanks were doin' OK pre GFC too. We are now in the pre-GFC II phase. Complacency kills.

And you don't like the fact that Aussies are in hock, more so than the Yanks, and would prefer to sweep it under the carpet. Your choice. not mine.

Didn't I underline "private"? They were public debts.

Have you done anything similar with Australians' private debt? it wouldn't be pretty.

That's the CO2 tax working. No cooking!!!

They have been talking about China's demise as long as they have been talking about the collapse of the Aussie housing market. Why believe the reports of one, but not the other? BHP, RIO, FMG will not stop mining but new developments (competition) will be shelved. Just last week BHP...