woteva they are all stuffed , this idea that we arent all in the same boat as the Americans is delusional. The Japanese are in twice as much debt and their pop is aging faster, the Europeans are again in worse shape. The british have 2 x times more debt, the Spanish, Italians, Greeks etc are way worse and the all the dud one owe their money to the French and German banks. The Chinese only own debt anyway and they are way over heated with probably the worst credit binge in history developing. So how can people sit here and predict the immient demise of the US without opening their eyes to the broader and deeper problem? We in Australia are in terrible shape, we are all in a higher private debt to income hole than nearly anyone. When the commodity bubble pops we are not going to escape the noose .
