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Date posted: 13 May 2008
View this article online here:
http://sacsis.org.za/site/article/18.19
This Al Jazeera report contends that middle class South Africans, are shopping themselves into a debt hole, living beyond their means trying to maintain a flashy lifestyle they cannot afford.
Easy borrowing has fueled in-debtedness. The debt to income ratio is over 70% and we have the banks, who've been dishing out credit without verifying people's ability to service their debt, to thank for this situation.
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