Young people living a lavish lifestyle on credit card debt, 60 Minutes Australia

Subscribe here: Full Episodes: , Generation Debt (2008) Back in 2008, the global economy was in meltdown and the financial markets were in chaos. Basically, greed, dodgy loans and bad debt were to blame. So you d think people were a bit cautious with their credit cards. Some may be, but not the kids they call Generation Y. They re young, reckless, and they ve racked up an astonishing 60 billion of debt. New cars, new clothes, new toys, no problem. Just whack it on the card. These kids had never known tough economic times, so they think they were invincible but they re in for the shock of their lives. WATCH more of 60 Minutes Australia: LIKE 60 Minutes Australia on Facebook: FOLLOW 60 Minutes Australia on Twitter: FOLLOW 60 Minutes Australia on Instagram: For over fort