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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (3149)	1/11/2001 11:03:38 AM
From: Moominoid	Read Replies (1) \| Respond to of 33421

I agree with everything you wrote. 33% is less than 50% <g> In Europe countries like UK have low debt and Italy and Greece are the worst culprits. It might be countries that have a hard time collecting taxes rather than ones with the biggest entitlements that have the biggest debt. US social security which is an entitlement really - The government just pretends it owes money to itself - is very generous compared to the similar benefits in UK and Australia. Currently the age pension here is $A 160 a week (USD 90) and is means tested. There is compulsory saving in superannuation funds (bonds, stocks, properties and anything else). But this only came in fairly recently so lots of people retiring now don't have big savings apart from mostly a house. David