The Forum > Article Comments > Beyond the wasted decade > Comments
Beyond the wasted decade : Comments
By David Ritter, published 29/5/2008Howard and Costello have indeed left the country in a debt-ridden mess, albeit that the currency is carbon emissions.
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Posted by Ludwig, Monday, 2 June 2008 7:43:38 PM
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But the other side of the debt saga is a much more ethereal beast. The US has enormous foreign debt, but seems immune to any concerns of it being called in.
I’m completely at a loss as to what to make of it, to the extent that I don’t know whether Plerdsus is making a valid and very important point or whether it is a complete furphy, promulgated by big business and pro-growth governments in order to keep growth rates high...or somewhere in between.
Even if it is a very real concern, how does it compare with the imperative to develop a sustainable society and the consequences of not doing so, or the potential for other huge impacts, such as peak oil, climate change or a major earthquake in Japan or a major Chinese city?