When I put the US Debt Clock on my Home Page (http://www.radiograham.info/debt) the US Debt to GDP ratio was 97.68% and steadily rising.
Today it was 98.42% and it was steadily rising.
And while-ever the US Government's revenues are $600 (for every $1000 it spends) that ratio cannot help but rise, until the US is bankrupt.
The Fed can't drop interest rates below 0%. So to supply the missing revenue it will have to print or borrow more and more money to keep forestalling Federal Bankruptcy.
Two Airports (one in Dallas and one in Perth) explain why the US is doomed while OZ not.
I didn't take any pictures of what I saw in Dallas last year lest Homeland Security pounced on me.
But there was a Special Departure Area from US troops (in full battle gear) and a Special Tarmac Area for huge jets that transported men and supplies all the way to Irag and Afghanistan. There was a war memorabilia shop. The same evidence (of massive military spending) could be seen at other major airports that I visited in July 2010.
BY WAY OF CONTRAST: When I landed in Perth just before Easter this year I went to the Taxi Area and the queue was huge. But the taxis kept coming and coming and the huge queue kept moving, though more jets were landing and adding to the queue.
The fascinating part was no men in battle gear could be seen BUT hundreds on men in orange Mining Gear (on Fly-In-Fly-Out contracts) were in the Taxi Queue - my guess about 15% of the incoming and outgoing passengers. Mining jets had a departure lounge like US military jets did in Dallas.
America SPENDS Mega-Bucks on Two Wars and is heading for Federal Bankruptcy.
Australia EARNS Mega-Bucks from Mining and is heading for a Budget Surplus.
