Friday, December 10, 2010

Australia isn't bankrupt yet

I think we already passed the bankrupted stage.

The USA has serious socio-economic problems such as a nearly 10 trillion dollar debt which equates to roughly $40,000 debt per person. Lack of health insurance coverage causes 18,000 unnecessary American deaths a year. Women are 70 percent more likely to die in childbirth in America than in Europe Being that the USA is about 15 times as populous as Australia, makes the fact that the USA is #1 in the world for GROSS DOMESTIC PRODUCT.

In Australia a citizen only has a .0000006% shot of becoming a billionare,... in the USA a citizen has a .0000013% shot at becoming a billionare! Twenty percent of Americans think the sun orbits the earth. Seventeen percent believe the earth revolves around the sun once a day.

The United States has lost 1.3 million jobs to China in the last decade

In Australia, overall, almost half (46%) of men and women reported having experienced an assault and/or sexual assault since the age of 15.

Twelve million American families--more than 10 percent of all U.S. households--"continue to struggle, and not always successfully, to feed themselves." Families that "had members who actually went hungry at some point last year" numbered 3.9 million"

The USA's poverty percentage is currently between 12 and 15% with roughly 40% (about 120 million people) will fall below the poverty line in the next 10 years. Not only this, but according to the human poverty index, 20% of americans lack functional literary skills and 17% of people fall below 50% of the median income.


According to the" The Human Development Index (HDI) is an index combining normalized measures of life expectancy, literacy, educational attainment, and GDP per capita for countries worldwide. It is claimed as a standard means of measuring human development, a concept that, according to the United Nations Development Program (UNDP) refers to the process of widening the options of persons, giving them greater opportunities for education, health care, income, employment, etc. " Australia has , FOUR Australian cities are in the top ten (Melbourne 2nd, Perth 4th, Adelaide tied at 7th, and Sydney tied at 9th). The list shows five Australian cities gracing the top 50, the first US city to appear on that list is Honolulu which ranks 28.

The USA has 1,867,059 acres of productive rich land, one of the richest nations in natural resources!!!

Australia has only 468,502 acres of arable land! That is pretty limiting!


One in every 911 people in Australia go bankrupt.
Around 20% of all bankruptcies in Australia are business related (not personal).
50% of Australian bankruptees owe less than $20,000, and 12% have been bankrupt before.
Australian People under the age of 40 are the most likely to be declared bankrupt.
Personal reasons (like illness) and economic conditions are the two biggest contributors to Australian business filing for bankruptcy.

1 comment :

carry said...

I am your big fan, thanks for sharing,
The US Federal Bankruptcy Law has many significant options available for the borrowers. However, you need to keep in your mind the right bankruptcy option.
Chapter 7 Bankruptcy