Federal Australian Debt?

Discussion in 'Markets & Economies' started by errol43, Apr 30, 2016.

  1. errol43

    errol43 New Member Silver Stacker

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    Having just had a look at the Australian debt Clock, Our federal government is borrowing at the rate of $90,000 per minute. However comparing our debt to the USA, WE SEEM TO BE IN A BETTER POSITION. Seeing their population is about 15 times as big then our federal debt of $470 billion is not too bad compared with the $19trillion the US OWES.

    Private debt for households in Australia is well over $1trillion.. Does that indicate that we don't care how much the governments owe..

    Sorry, I have to go and find my credit card, the pizza man has just arrived. :D

    Regards Errol 43

    I guess we will have to add the Subs and the F35 flying lemons onto the tick!
     
  2. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Have you looked at sleeper Japan's debt?
     
  3. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    The private-sector debt to GDP ratio in Australia is now 250%, a similar percentage to Japan's government debt ratio I think.

    In Australia over the last few years, households and businesses have managed to equal the debt ratio that Japan's government to decades to achieve.
     
  4. errol43

    errol43 New Member Silver Stacker

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    Big difference between Japan's and Australia's debt...Japan owes it citizens, Australia owes overseas banks.

    Regards Errol 43
     

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