Warning on US Deficit at G20 from IIF's Dallara!

Attention was not all upon the EU and the Euro in Mexico City this Sunday it would seem. The report, linked here, sounds some other ominous warnings:

The non-partisan US Congressional Budget Office estimates that President Barack Obama will finish his first mandate with four consecutive fiscal years showing a deficit above $1 trillion.

Earlier this month an administration official said Obama's budget for the current fiscal year projects a $1.3 trillion deficit, slightly higher than the $1.296 trillion in 2011.

According to estimates from the International Monetary Fund, the US national debt surpassed the country's Gross Domestic Product in 2011 and should rise to more than 107% of GDP this year.

NO! Cannes Can't, unless Australia, helped by Canada, leads

A report on this week's G20 meeting in Cannes from an Australian viewpoint is linked here.

Given the announcement last evening of a referendum on the latest EU rescue package among Greek citizens has thrown the entire EU strategy for survival into chaos; the stalemate between the Obama administration and Congress in the USA; the deepening economic crisis rapidly spreading around the globe, the only slowly growing influence of the Brics there seems only one country sufficiently well placed with all the other powers to take a lead towards a solution!

That nation is Australia aided by Canada!