Read the whole thing.
This is a post about long term solvency – the things that we do now that determine whether we have an economic crisis in twenty or thirty years. In that sense this is a post about Australia, the US, New Zealand, Canada and Japan and possibly even China. The PIGS have rolled their dice. Most the rest of us are still shaking the dice in the tumbler.
via Bronte Capital: Globalizing the Australian Intergenerational Report – thinking about long term sovereign solvency in Australia, the US, New Zealand, Japan and China.