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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: XBrit who wrote (92371)	1/5/2009 8:08:19 PM
From: Moominoid	1 Recommendation Read Replies (1) \| Respond to of 116555

I don't know about inflation but in the long-run the US is going to need higher taxes and to pay higher interest on its government debt unless they cut entitlements like social security. Australia has universal health care (more or less though 40% of the population has private coverage encouraged by tax incentives) and doesn't spend more than the US currently as a share of GDP by not providing much direct support to the old as well as having a lower defence budget and not having to pay interest on the national debt because we don't have one... Old age pensions here are means tested and low compared to US Social Security.