The Productivity Commission warns that our modern prosperity is due to the luck of our sky-high export prices. Virtually none of the acceleration in real national income growth int he 2000s has come
The Productivity Commission warns that our modern prosperity is due to the luck of our sky-high export prices. Virtually none of the acceleration in real national income growth int he 2000s has come
Once we had a crippling tax on all the basic essentials of life … All you have to do is pay your.. tax try to live (in a 1600’s way) then die quietly. -ardy on ABC unleashed
At 9.39am today – according to the Economist – total global government debt stood at USD$40455754305252. That’s 40 trillion dollars… and counting.
According to the Age:
“The
America’s AAA credit rating on sovereign debt is now downgraded from stable to negative.
The seeds of a major financial crisis are being sown.
US debt US$14.3 trillion.
The last holders of US treasury
A disturbing discussion at Hot Futures Think Tank tonight.
Bob said a number of times: Civilisation could collapse in a couple of months. He was meaning in a couple of months time from now.
Ian said that
The Global Financial Crisis was blamed on extreme capitalism and excessive greed. But social democratic governments caught in it’s net were forced into very extreme measures that have gone directly
General Government Debt as a % of GDP
Japan 250%
Greece 150%
Ireland 120%
US 110%
Portugal 108%
UK 80%
Spain 75%
Germany 70%
Australia 20%
These figures are approximate – read
There is quite a debate going on about whether house prices in Australia are at risk of a precipitous drop.
Factors involved are the rise in household debt prospect for further growth in the debt-to-income
No. A Carbon tax is being introduced to encourage you to evade it. We’ve evaded it we pay no tax on petrol even because our PVs are making us so much money they cover our fuel costs. Next year
Peter Beattie shares these thoughts:
The US economy will slip behind China into 2nd place by 2027 accoarding to Goldman Sachs and behind India in 2043.
China passed Germany in 2007 and recently Japan.
Goldman