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I'd agree with that. Rich or poor, debt seems to be much more accepted as just another part of life these days (eg. credit card debts etc). Especially I guess if you compare to 40-50yrs ago - but again I guess that also comes down to the issue of ease of availability. But even the last 10yrs I'd...

Doesn't this asssume that when incomes increase people DON'T increase their debt/borrowings etc. - which is more than likely. Give people more $, they'll spend it. So debt to income ratio could stay the same, just at higher figures?

Quote from the article: Steve Keen, associate professor at the school of economics and finance at the University of Western Sydney, agreed, saying household debt was roughly 25 per cent of disposable income in 1990, and that proportion had risen to 150 per cent. "We can't keep on doing that...