Exact(8)
But the size of the debts relative to economic output has soared.
Those three countries are among the most heavily indebted developed nations, as measured by their debts relative to economic output.
People with large nominal debts relative to their incomes cut their spending sharply to bring the ratio down.
Mortgage lenders, he said, are "interested in traditional mortgage buyers who will document their income and assets and don't have sizable debts relative to their income".
Households have as expected reduced their debts relative to their incomes; much of that has come by defaulting on their loans.
Other rich countries with far bigger debts relative to the size of their economies, from Italy to Japan, have soldiered on without hitting a wall.
Similar(51)
Most also have a relatively smaller share of dollar debt relative to local-currency debt than they did a decade ago, which will limit the increase in their debt burden when the currency depreciates.
Look at household debt relative to income.
Australia has around $2 trillion in unconsolidated household debt relative to $1.6 trillion in GDP.
An even bigger problem is the favourable tax treatment of debt relative to equity.
What the fiscal charter really implies is that debt relative to GDP will fall rapidly.
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