Friday, April 17, 2009

Opps Australia!

It seems we haven't learned our lesson yet....credit card (read: the evil shiny one) debt  is still on the increase . Why is this? I thought people were spending less? I thought the day of buying KFC or Hungry Jacks for dinner every night was over? Perhaps I was miss-informed about us as a population finally removing ourselves from the couch when we couldn't afford pay TV? It appears I was wrong. Perhaps once again, the media has glorified this economic downturn, instead of focusing on facts and figures. Oh well, if it makes the news....

2 comments:

  1. Increasing credit card debt is expected in the current climate. As the article says, the debt increases when the required repayment obligations are not being met. Economic downturn = less money, which leads to debts not being paid on time, which leads to increased debt (interest). It doesn't neccessarily indicate an increase in credit purchases.

    Though on that note, I'm disgusted the Harvey Normans and Super Amarts of the world are still advertising "buy now, nothing to pay for 24 months" deals. That is the thinking that got the little people screwed over in teh first place. Debt is bad.

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  2. Agreed, it makes my tummy turn when I see that....

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