| Lostplanet22 said: USA's debt is 67% of GDP.. You are talking about external debt and that is not the same.. Countries as Luxemburg have an external debt of 4.000% of GDP UK: 470% of GDP etc.. |
The problem is that the external debt in the US is also under some form of supervision by law. If they cross that 14,3 trillion mark before they lift the debt ceiling, the government will have to take appropriate action to lower it to acceptable levels.
Take a look at Greece, they had the same thing albeit on a smaller scale.
Also it may be true for now that the US is the biggest economy in the world, this does not mean anything in the grand scheme of things. the balance of power has been shifting to China, India and Brazil for some time now and i fully expect these three regions to dominate the US economically in time. china and India sooner rather than later. We're talking about not more than 10 years now.
If i lose access to this profile as well....I'm done with this site.....You've been warned!!.....whoever you are...
Happy Wii60 user. Me and my family are a perfect example of where hardcore meets casual and together mutate into something awesome.
