NZers Teeter On Tip Of Debt Mtn.

As a result, many Western economies are perched on mountains of borrowed money. A combination of cheap money, easy access to credit and optimism has led private borrowers to amass debt at a prodigious rate.

In New Zealand, aggregate household debt, both mortgage lending and unsecured lending through credit cards, overdrafts and store cards, reached $90 billion at the end of September...