still the seven over that's on process still seventy percent eccentric cetra what you had was the rausingprofit that stopped you then went from credit being positive can only be negative and that the early on and whenever the economy appeared to be reviving it was because people starting to borrow a bit more money again the japanese central bank like most of the banks not understanding private debt not understanding money because the stuff on their classical economists thought the economy's returning to wake librium and put off rights again or bring in taxes new conny moods would collapse again if on get is just slot revival the authorities trying to slow what they thought was a boom it dissipated cause people to go back into deal a bridging reducing profit and that's continued on the two thousand and five the is and over that period shawn a jump in his profit that's fallen from two hundred twenty five percent of g.d.p. which is why above america's level. down about the same as america about one hundred fifty percent now you finally getting a bit of a sustained revival but for that period

how outrageous the lending has been so far so the probable that's kept the strong property market rausing the fall though the call has finally come out at the bottom of the so there's a key phrase there they banks stop lending. so walk us through a little bit about what the australian banking system they have their own central bank right the australian central bank and they have some kind of committee setting interest rates and. so are what's happening with interest rates and why wouldn't the banks organize another bell out and say peak debt you know to walk us through why this might be kind of the end game there oh is it a skeptic or the end game was for america max you had a a credit bubble in america that was private it was rising at about the privilege of fifteen percent of g.d.p. every year at the end that's adding another fifteen percent of demand for the economy for growth goods and services and asset markets that the asset market side of that peaked in two thousand and six and then you started having declining housing debt that's what drove the united negative credit it went from