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That's what I was trying to get at Dave.... i dont believe in the direct references to us being as deep in the doodoo as the USA, because as yet it seems our mortgage defaults and deliquencies are well below the USAs levels. Couple that with some REAL COST reductions in mortgage repayments in...

i was referring to mortgage deliquency rates versus countries like USA and UK, since some people here are quick to tell us how we are giong down the gurgler just the same as the USA et all. ANyway... im not here to argue semantics.

Im not paying down my debts with the money saved due to lowered interest rates! Im putting it all back into the economy! Xmas shopping, new toys for me, a new car for the gf, and looking to buy another property early next year. Bugger saving it! Been saving for too long already.

oh shhh you! fixed now.

/ looks at mortgage default levels in Australia. Yep... smooth sailing in Aus. :) If there was a real issue with the "debt vs GDP" argument that sphinx is bellowing, then wouldnt that be reflected in the mortgage default rates? I agree with Chillia, shadow, and all the others who have put...