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RE: <nettime> Flash: Currency Speculators Own Planet
Craig Bellamy on Thu, 24 Oct 2002 04:29:57 +0200 (CEST)


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RE: <nettime> Flash: Currency Speculators Own Planet


>If he actually won the presidency, the markets' reaction
>would be so negative that the country would have to declare a moratorium on
>its huge $260 billion foreign debt.

This amount is not that large (I presume that it is in US dollars). My own 
country Australia has a debt of about AUS$500 billion. Our GDP is about 
AUS$420 Billion.

Our government has no debt, but the rest of the debt is in private hands of 
our wonderful consuming citizens. This will result in a huge personal 
crisis when the economy finally falters. Bookmark this page. The milkbar 
told you so!

Craig








Craig Bellamy
PhD Candidate
School of Creative Media
RMIT University
Melbourne, 3000
Victoria, Australia
www.milkbar.com.au

"torturers know how to give up their seat on the metro, just like Himmler"
Camus

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