TLS - moving on up, page-60

The US - under the USA Exceptionalism mantra - cant collapse economically, no matter their debt (within reason) because they are the largest economy in the world. This statement may need revisiting when China supplants them. Because so many other countries own US debt, they are "too big to fail".

Most traditional economists look at GDP to debt ratios, under which the USA should sink. But this metric is one dimensional and only really works for high risk economies (eg, reliant on single industries that rely on exports, having sus governments, etc (much like Australia, come to think of it)) but less well for economies like the USA, Germany, Japan, and a few others (Japan should have defaulted/collapsed 20 years ago under this metric, for example).

There are plenty of big issues in the world that risk the ASX - but the US currency is not one of them, for now at least.

I have heard your concern, in one form or other, since the 1987 crash. Well, we're all still here - poorer or richer depending on your skills and luck.