**$$ The KEY risk $$*******, page-2

Nickoo, The US is the only country in the world with the good fortune to have all its foreign debt denominated in its own currency. If interest rates reach 0% and they need stimulus they will turn on the printing presses to churn out greenbacks and inflate the economy, and deflate the value of foreign debt.

This option is not available to Australia or any other country because our foregin debt is denominated in other currencies.

The only scenario which will result in a 1929 scenario is a biological or nuclear attack on a US city, which would destroy asset values over the entire country and put most households into a position of negative home equity at a time of high unemployment. I'd give this scenario a 1/20 chance over the next 10 years, higher if the US is stupid enough to attack Iraq or continues its dangerous & unfair bias towards Israel.