What household debt levels tell us about the rise of One Nation

Australia's economy and stock market are performing strongly, yet consumer confidence remains unusually low. According to economic analyst Alan Kohler, the disconnect between these economic indicators and household sentiment continues to widen. The reason: heavy household debt is leaving many Australians feeling financially squeezed despite economic strength. That pessimism is shifting voter sentiment—evident in rising support for One Nation, a party that appeals to those expressing economic anxiety.

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