Australian credit growth is slowing but outstanding debt remains at historically high levels. Housing credit growth, personal credit growth, investor housing credit growth and business credit growth are all slowing. But the rather surprising thing is broad money (M3) supply growing at a 12-month rate of just 1.9%, the slowest since 1992 when Australia faced eight consecutive quarters of declining economic growth.
Where is the biggest property bubble?
Here’s how much the total residential mortgage debt outstanding has grown since 2008 for Australia, Canada, the UK and the US,
We recently wrote about the UK household savings ratio falling to a record low of 4.9% in 2017 (since comparable records began in 1963) as growth in households’ spending exceeded the growth of households’ income. (Read more here).
We also wrote about the household savings rate in the US falling to a multi-year low of 3.1% as household expenditure grew quicker than income (Read more here). Continue reading “Household saving rates are falling globally”
The Greek stock market has been one of the best performing markets in the world over the past year. The Athens Stock Exchange General Index has returned 19% over the last year. But it has lost 85% (5334.5 to today’s close at 781.14) in value since October 2007. Continue reading “The Athens Stock Exchange General Index has returned 19% over the last year (but lost 85% since 2007); Australian interest rates are lower than that of the US for the first time in 18 years”
What a difference a year makes, these are the current 10 year government bond yields, Continue reading “Impact of interest rates in the US and the UK heading higher”
Here are the countries with the lowest personal income tax rate (for the maximum tiered income slab) and a few with the highest, Continue reading “Countries with the lowest personal income tax and sales tax/value added tax rates”