America's massive national debt in actual size.

[ashka]

http://www.wealthwire.com/news/headlines/1562 Check this out, rather daunting for the American people to have such a huge debt in real life size measurements.

[brick]

It is actually daunting for the rest of the world. If America defaults it debt then the 1927 stock market crash will look like a kindergarten party. They keep printing more money to cover their debt, but they have nothing to back it up.

[daemon]

What's worse for Australia is China. They have a huge financial bubble because they're pouring money into infrastructure (search for: "ghost cities" china) in order to generate work and thus an economy. They ship a lot of resources out of Australia which is currently propping us up.

 

If you want to know what Australia will become quickly, look at America. Already we have massive rises in the cost of living (which will cause people to halt on spending and thus slow the economy and jobs will be lost), the housing bubble is deflating (e.g. assests) which will send people underwater as it is. Throw China into the mix: we'll have devastation.

[ConvexConepiece]

Great link.

 

Indeed if the US chose to default it would be BAD news for us. Still this decision hasn't saved them/us or anything....

 

*Fun fact, if you spent $1 million a day since the birth of Jesus Christ, you would have not spent this much money by now. Rather your total would be around $700 billion which is actually the amount the banks received during the bailout.

 

 

[Reverend]

Treasury bonds are how the US - and all governments for that matter - borrow money: they issue government securities, which other countries and institutions buy. So, the US national debt is owned predominantly by Asian economies.

No need for them to bomb anything these days.

[Rose Gardener]

[c01]

yeah the economy is soo unstable its shocking... its hard to workout whatll happen

[RuthlessFadil]

USA Economic Plan

 

1.Decrease Tax

2.Increase Spending

3.???????

4.Profit

[coldcookie]

WOW ... that SUCKS