idc covered by proactive investors, page-6

Thanks nectar, but I'm not reassured, I'm afraid.

Robin Bromby in the Business Australian today:
" The Congressional Budget Office said legislation passed to avert the "fiscal cliff" would add nearly $US4 trillion to federal deficits over a decade, largely because it would extend low tax rates for almost all Americans. So that's over $US20 trillion by 2022 -- and that is without all the other borrowing which, if it continues, will add several more trillion on top. Since when has going further into debt been the road to recovery? How will Washington service a monster-like $US25 trillion or more? And find the money for Medicare and social security?"
And later in his article: "...Beijing has added $US14 trillion in extra credit since 2009. That, to put it in some context, is equal to the entire US banking system."

Not to mention the parlous national debt situation in almost the whole of 'old Europe', as well as Japan....