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Re:Who defaults first: Greece or the US? by stayjin on Tuesday July 05, 2011 @08:03AM (#2729487)
It is not that simple. Have you ever wandered why counties do not have to issue balance sheets at the end of every fiscal year( or at least before every election) ?

Do you understand how easy it would be to judge how a government performed by comparing two of these? And ask all the right questions, exactly as MS investors do with the "developers, developers, developers" CEO?

Re:Who defaults first: Greece or the US? by justincormack on Tuesday July 05, 2011 @09:02AM (#2729633)
Thats just because they dont want to share the information transparently. New Zealand started issuing a real balance sheet quite some time back, and it is very interesting. It is hard to do as you need to estimate long term liabilities etc.

Here is a summary position and you can find the rest on the site http://www.treasury.govt.nz/government/longterm/fiscalpositi...

All governments should do this....

Re:Who defaults first: Greece or the US? by nodata on Tuesday July 05, 2011 @10:43AM (#2730000)
This is excellent. What prompted them to do this?
Re:Who defaults first: Greece or the US? by justincormack on Tuesday July 05, 2011 @11:03AM (#2730066)
I forget the original reasons, it was some time back. There is a statement here: http://www.treasury.govt.nz/budget/2010/is/04.htm

I seem to remember it was partly prompted by a new government wanting to prove they were fiscally responsible, but also I think there has always been quite an awareness as there is a huge earthquake reconstruction fund (now entirely in external assets) in case of disaster, which would prompt some thinking about assets and liabilities.

Re:Who defaults first: Greece or the US? by stayjin on Tuesday July 05, 2011 @11:30AM (#2730194)
This is excellent indeed.

Actually, it might come as a surprise but Greece seems to have a lot of public assets which would give it a much better clear position than many other countries in Europe if they were to be compared.

However of course, it is no secret nowadays that even with a great clear position, if cash flow is not positive you may easily go under.