Household Debt: The Final Stage in an Artificially Extended Ponzi Bubble.

The article focuses on the household debt in Australia. It notes that private debt is largely ignored by conventional macroeconomics, but the impact of it on the economy is affected by its scale relative to gross domestic product (GDP), its composition, purpose and rate of change. It describes the global financial crisis of 2008-2009 to the Great Depression in 1929-1930, which is caused by high levels of debts and Ponzi schemes.