Federal Australian Debt?

E

errol43

New Member
Silver Stacker
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!
 
Ipv6Ready said:
Have you looked at sleeper Japan's debt?
Click to expand...
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.
 
Big difference between Japan's and Australia's debt...Japan owes it citizens, Australia owes overseas banks.

Regards Errol 43
 
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