So, how are Aussies paying back their $7K per capita?

I hear all these poster saying they dont owe anything. Are you guys old enough to have the house paid off or are you counting it as an asset. I owe nothing except for my wifes car and my home mortgage. credit cards are 0 balance and I could pay off the car and still have a health bank account yet I am about 280K in debt simply because of the mortgage. I have other assets like collector cars and others but dont count them. It seems even with this I am atypical here?

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1982 300CD Turbo (Otis, "ups & downs") parts for sale
2003 TJ with Hemi (to go anywhere, quickly) sold
2001 Excursion Powerstroke (to go dependably)
1970 Mustang 428SCJ (to go fast)
1962 Corvette LS1 (to go in style)
2001 Schwinn Grape Krate 10spd (if all else fails)

I have 1.25 years left on my house -- $20K. I have no other signifiant debts. My credit cards are clear. I have the titles to my cars. My wife just started grad school but we're paying as we go on that one until a hoped-for scholarship kicks in.

I will probably go back into debt in the next 3 years as I sell this house in town and build back on the old home place. But I intend to pay-off that debt in under 10 years.

I'd take the $7K per capita over our own country's per capita debt.

How did Chile and Sweden get out of their debt spirals?

I only saw Deeago say he didn't owe anyone anything.

Chile . . . hmm, nationalized copper mines?

I owe $130,000 The commercial building is for sale for 89,000, when It sells, I will owe $41,000. We are selling a lifetime of really valuable antiques and expect to get about $50,000 for them, I am also selling my clk 320 and hope to get $8,000. If all goes as planned, we will be debt free in a few months Lord willing.

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For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!

Good for you, CLK. I hope more people learn to follow your lead.

what is this thread, a meeting of the cotton mather fan club?

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"The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread."

Thanks, the wife and I are at the point in our lives where we don't want more stuff, we just want to pay off our debt and relax a little. When the commercial building sells, we will operate our business out of our house, our house is very large, about 3800 sq. ft. so the shop will fit in easily. Our house is only 1 mile from the shop and my customers said that they WILL stay with us.

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For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!

I have lived my whole life so far by paying for things as I go, and other than a small mortgage on one of my houses I don't owe anything. I can't help but wonder though, if this is the best way to live. I see a lot of people who drive nicer cars, live in nicer houses, and take big vacations regularly, but don't seem bothered about putting it all on credit. When it comes down to it, whether or not you have paid for something, once you have experienced it ,it can't be taken from you. So- who is really the smart one? Sometimes I wonder... am I the only one?

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1984 300TD 1981 240D

I think you are doing the right thing. Credit will soon catch up with those people.

__________________
For the Saved, this world is the worst it will ever get.
For the unSaved, this world is the best it will ever get.

Clk's Ebay Stuff BUY SOMETHING NOW!!!

Australia was public debt free until we got a stupid red headed left wing cow running the country. Now we have a debt, not on the same scale as the USA.
As one politician said just after the last election, "we are only a heart attack away from another election" we can just hope that it happens sooner rather than later & we can get back to a government that has responsible monetary policies.
Otherwise we will end up screwed like you guys.

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Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

That is what I always thought, but lately I have been questioning myself. Once you have done all this high living on credit it can't be reposessed from you. And there doesn't seem to be any penalty for being a deadbeat anymore, quite the contrary, only the responsible seem to get penalized anymore, to pick up the slack for the deadbeats. So why be responsible and get penalized for it instead of whooping it up with no worry of consequences? I know that in the end I only have to answer to myself, but it has sure been tempting lately to say "screw responsibility"- lets party and let someone else pay the bill!

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1984 300TD 1981 240D

Many people seem to live their whole lives in happy-land: Indebted to the gills and paying monthly notes. I believe a large number of the boomers do that and cover the debts by spending what their parents carefully saved for them. Boomer parents remember the depression and live in fear of it. Boomers recognize their parents' fear but don't think it could happen again -- the politicians will protect us making it illegal to have a depression.

Gen-Xer's are one step further removed. They may or may not have heard of this abstract event called the great depression. If it happened again they might lose their jetskis or forego a ****it vacation.