This page has been archived and commenting is disabled.
This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300%
If anyone has stopped to ask just why global central banks are in such a rush to create inflation (but only controlled inflation, not runaway hyperinflation... of course when they fail with the "controlled" part the money paradrop is only a matter of time) over the past 5 years, and have printed over $12 trillion in credit-money since Lehman, the bulk of which has ended up in the stock market, and which for the first time ever are about to monetize all global sovereign debt issuance in 2015, the answer is simple, and can be seen on the chart below.
It also shows the biggest problem facing the world today, namely that at least 9 countries have debt/GDP above 300%, and that a whopping 39% countries have debt-to-GDP of over 100%!
We have written on this topic on countless occasions in the past, so we will be brief: either the Fed inflates this debt away, or one can kiss any hope of economic growth goodbye, even if that means even more central bank rate cuts, more QEs everywhere, and stock markets trading at +? while the middle class around the globe disappears and only the 0.001% is left standing.
Finally, those curious just how the world got to this unprecedented and sorry state, this full breakdown courtesy of McKinsey should answer all questions.
»
- 136292 reads
- Printer-friendly version
- Send to friend
- advertisements -
Just remember that Andrew Jackson bites and Ben Franklin probes for items of scientific interest.
I would like to see that last table with the actual total debt figurres rather than the changes over the 7 years
Just give every household $50,000 every January 1st.
Which will get them one ham at the company store.
" and have printed over $12 trillion in credit-money since Lehman, the bulk of which has ended up in the stock market,"
Credit is not the issue ... DEFAULT is. If that so-called credit money (of course "all" money is "a promise to complete a trade") is paid back as promised (that's what a loan is ... a promise to pay back) and extinguished, there is no problem whatever.
If it is "rolled over", that is DEFAULT and the money must be recovered with INTEREST collections of equal amount, otherwise "unmeasurable but positive" INFLATION must result.
It's not rocket science.
I see inflation is running at 68% in Venezuala. It won't be very long when that comes to the US. Thank the current administration for the Marxist con man still believes he is Hugo Chavez reincarnated and he will destroy this country with his transformational policies.
These number illustrate only one thing that really matters, since money and GDP are merely the residue of something of fara greater importance than any metric.
J O B S with good pay and benefits are totally lacking in these and other countries, including the disUnited States.
Jobs and lifelong careers, are the missing link in those economic measurements. Without them, there is no other way to provide for the great unwashed, which at this juncture is at least 3 billion more than there are jobs for.
Work, whether it's considered slave labor or some other negative connotation, is absolutely vital for a nation's citizens to remain out of debt or only in manageable debt.
Without meaningful work these numbers will get us nowhere.
So thats what rating agencies do . They turn this chart into what the financiers and politicians want to see.
The USA is Double A dude...start buying treasuries.
Those rates are going to zero as "growth is non-existant" and so is the war.
Coming to a restroom near you.
http://www-tc.pbs.org/wnet/wp-content/blogs.dir/2/files/2009/01/wa_img_z...
The Zim Dollars are the ones with a picture of Mugabe and his goon squads on.
From "we can't give it away" to "our position is so large we can't even sell...let alone trade."
Zombie money!
Now...let's rehypothecate...RUSSIA!
...looks like the #Briiica are working very hard to catch up with western debt.
bullish!
Why would Norway be on this list, their debt to GDP is 25%, unless this is an aggregate debt to gdp which is an absolutely useless metric.
Nothing says "levered to infinith with infinity" like oil.
Not true with coal of course....
Nonsence. If 100 trillion in debt at 3% is bad then 100 trillion of debt at -2% must be good. Or maybe i'm just too old to understand the meaning of money.
Norway: Government debt down 16%. We need a field trip to see what they're doing "right"!
http://beforeitsnews.com/alternative/2015/02/norway-kicks-out-the-cabal-media-blackout-3112054.html
Sounds like something you would read in "The Onion". Absent in all I read was: What if you don't comply with the edicts?
I love the Smell of Reality in the morning!
I love the Smell of Reality in the morning!
1. Reduce Govt by 75%
2. Any additional funds required, after and ONLY after #1, come disproportionately from:
a. An "Asset Tax" as opposed to Income Tax to get back what teh TBTF WS Bankers already stole; adn
b. Raise Inheritance Taxes Back to 75%
If anyone maintains US Citizenship he must pay taxes in item 2 above of all foreign owned assets; otherwise, these TBTF ScumBags get to keep thier thefts in Carribean, etal
Just stick the Battleship Missouri off the coast of the tax haven and reduce the entire island/land locked nation to a pile of rubble.
Give the people there a chance to leave of course.
15 minutes warning should be fine...
Do you have a magic wand?
<<1. Reduce Govt by 75%>>
I think the only power lowly men have is to get ready to trade in precious metals.
Looks like the whole world is full of Koch suckers that don't want to pay taxes or wages high enough to be taxed. They mostly like the miracle story of a curve that bends backwards.
The biggest problem the world faces today is the fact that it uses printed garbage for money!
Time to issue money debt-free. Not borrowing on treasury bonds = debt.
Gold and bitcoin ftw
Extend and pretend must be adhered to. Otherwise the sheeple will riot and things will burn. By "things" I mean this time the rich homes, aka, Greenwich, CT. Too many sheeple are well armed, all over the world. When cart merchants have AKs...
Besides...LEO wants a chance to use all their fancy weapons. ONCE. Then they find out why thier toys were sold as surplus to them.
Do your part...default!
MOAR !!!
Debt = Slavery
You're not born into it, it's thrust upon you.
Slavery is not thrust upon anyone. It is accepted by those who desire to live beyond their means or wish to live at any cost even if it means losing their freedom.
Now is the USA's GDP being figured with the new accounting for intellectual property that exists in Hollywood? Ideas are worth billions when using mark to unicorn accounting.
LOL, what a scheme.
If the numbers don't look good then change the GDP....
Maybe the ECB can buy 50% of BOJ debt, then the Federal Reserve can buy most of the ECB's debt. BOJ can buy the the BOE debt. And the BOE can buy the Federal Reserve's debt.
On large Central bank circle-jerk.
All with infinite printed currencies.
Maybe the Fed is on-deck to do QE 4? They'll have to keep doing QE.
Japan economics has gone mainstream.
I notice Iceland is not on the list. Hmmmmmmmmmmmmmmmmmmmmm.
That is an excellent comment. They are FED up with erzats money/currency.
Please make some corrections...
EUROSTAT newsrelease, 10 February 2015
Total general government contingent liabilities and non-performing loans in EU Member States, 2013
Liabilities of government controlled entities classified outside general government (only those entities whose liabilities exceed 0.01% of GDP are included in the aggregate of each country)
Germany: 126.26
LINK
http://ec.europa.eu/eurostat/documents/2995521/6616449/2-10022015-AP-EN....
Corporates and households tightened their belts over 7 years. I see that was just to make room for the USG.
Damn capitalist Russians!
Bailout Wal-Mart because of the longshoremen strike….. 500% or bust!
either the Fed inflates this debt away, or one can kiss any hope of economic growth goodbye, even if that means even more central bank rate cuts, more QEs everywhere, and stock markets trading at +? while the middle class around the globe disappears and only the 0.001% is left standing.
WTF?
The QE.....only enriched the Rich. Those in positions of trust that abused that TRUST should be bankrupted and JAILED.
Oh, rounds of QE continue. Until all the wealth is extracted.
Quick, attack the solvent!
Time to short Russia now after seeing this, via RUSS.
Yeah, go long Japan.
It could be said that One of the reasons why Argentina, Venezuela and others are "EVIL" and those at the top of the list, red very red and leveraging, are "Advanced democracies" on the "right path"....
Dr. Kruglove: Or How I Learned To Quit Worrying and Started Liking the Debt.
Here is a STUPID question which I hope someone will answer:
To WHOM is all this money OWED ?????
Seriously!
Government debt is owed to it's citizens - so we got that going for us.
ah really, cause i thought it was owed to the banks..
I cant remember when I ever saw somebody buying government bonds, but sure it did happen 10 years ago.
Wouldnt the citizens be more like collateral on their loans?
I always figured some guy in a castle in Switzerland owned all the world's debt.
Since GDP is fictional anyway, why worry?
Mark to fiction Accounting lets GDP be what you want it to be.
Plus we can include more hookers and blow
'
'
'
Somewhere, over the last few years since reading ZH, there's a stat that says that no country with a debt-to-GDP ratio of 110%? has ever recovered.
Can somebody post that link or stat?
Thanks,
•?•
V-V
Why is there so much debt in the world?
What is the bankers only product?
I see.
Sweden 290% ? WTF! This is crazy enough, but I am given to understand that the biggest debt problem in Sweden is private debt. The Swedish consumer and home owner is in record levels of debt, partly owing to the housing bubble. When any state has record Private and Public debt, they are a ticking time bomb. There are other surprises on that list.
Ireland was supposed to be fixed. Or so the EU clown show has touted. But they sit at 390% just 10 points below the all time debt leader Japan. The Irish then have solved nothing, expect become debt slaves for at least another century.
Just from reading over that list, we can ask, where is economic growth going to come from, when debt is already at these levels? What, are nations going to borrow and spend to stimulate growth?
The JAWS of the debt trap have snapped shut. Too in debt to grow, not enough growth to service these level of debt. All you can do now is use austerity to crash living standards to new lows and use the excess wealth to service the debts. But then the jaws of the debt trap close even tighter as low living standards go hand in hand with low consumption, and low demand.
The Central Banks will maintain zero and negative interest rates now for ever. Even the slightest tick upwards and all the debt crashes, as nobody can service debt at market intererst rates.
"What, are nations going to borrow and spend to stimulate growth?"
That is the problem, nations borrowing like they actually produce something - Nyet.
Greetings from Ireland, where all bank bondholders were paid with public money! We are run by a coalition of left and right, who neither cut public expenditure sufficiently nor achieved a debt reduction as was their mandate.
It's sickening to see our minister for finance insisting Greece follow the troops, he is praised as a statesman but I prefer to think of him as a witless school teacher. Btw both our 'prime minister' and minister for finance are former school teacher's, not a crime but not exactly awe inspiring...
Derivatives is a ripe game to implode once the investors bail out to collect the check. Yellen will explain the Ponzi process. Ask SCOTUS about ACA ObamaCare as a tax..
@Jack Burton: Just in case you misunderstood the chart: (If you didn't, then it's me who is misunderstanding your comment!)
The chart already includes private debt. Swedish public debt is comparatively small, about 40 percent of GDP.
Yup, spot on! Swedish public debt is relatively low. However, the housing bubble is beyond all sanity and the banks just keep fueling it. All "financed" through covered bonds with short maturity. The swedish housing boubble has to be in parity with tulip mania as the most stupid euphoria of all time. If you visit Stockholm, in near time, I recomend going on a flat display for sale and watch all the morons bidding over each other like there is no tomorrow.
What I am most afraid of though is the beginning talks of borrowing for infrastructure "investments" since Sweden is "getting paid to borrow". On top of all of this - a socialist government. We are so beyond fucked.
Same in the Netherlands, Belgium, Australia, Canada, New Zealand, etc.
All have imported low rates from the USA, all have allowed massive housing bubbles to blow up while their macroprudential regulators were asleep at the wheel / cutting a paycheck from it.
By choosing to ignore history, the enablers of a return to rampant rent-seeking have also unwittingly embraced their inevitable, and ugly, demise.
Sad. An 80% LVR is such a simple and effective thing.
1. We are posterity.
2. We do not pay.
Posterity does not pay
Where the fuck is Russia on that list? Their debt has just been downgraded to JUNK! So I ask, "Where the fuck is Russia on that list"? They are rated Junk, while few if any states on that list are junk.
Russia has around 400 billion is FX reserves, tons of gold and growing. FX pouring in through oil revenues [even if reduced].
" In a scenario in which the government would turn to borrowing in the domestic market to finance at least a share of these deficits, higher spending could result in an increase of the debt-to-GDP ratio to 20% or more."
Tell me the Junk downgrade is not political. Anyone?
OK: The junk downgrade is not political.
Of course, I'm lying.
Tyler: Can you PUT ALL ABOVE 100% IN RED PLEASE?!?
please =)
Tyler: Nevermind, put all steps of 100% in another color, that will make A NICE RAINBOW!!!
Poor little peasants, don't you like debt slavery?
nice!
maybe 0hedge coming closer to why this is still not the end of the world? ;)
what a f*cking joke.
masters of the universe.
hang the bankers
C'mon man, they been saying that same shit about the debt being a problem for 40 years. When are you guys gonna learn there's lies, damn lies, and accounting gimmicks. Now BTFD BITCHEZ!!
What - no Iceland on the list! Dang!!!
High valuations on equities, narrow credit spreads, low volatility and abundant corporate bond issuance all signalled a strong appetite for risk on the part of investors.
http://www.bis.org/publ/arpdf/ar2014e.pdf
To answer your question, they exited club.
http://alfred.stlouisfed.org/graph/?chart_type=column&id=DDOI12ISA156NWDB,DDOI12ISA156NWDB&vintage_date=2012-09-24,2013-04-22&range=Max
Yes, Nigeria, Peru, Argentina and Russia are top economies accoaccording to this list!
I knew we are the best! Go Putin! Beat that Nigeria to which no-one will give a loan!
Replace "inflate away" with "war away". Problem solved????
It's not my problem. Move along.
No offense,
But the published number for US GDP is $17.4 Trillion.
The published US National Debt is: $18.1 Trillion.
That equates to a debt-to-GDP ratio of 104% not 238% as stated.
If we include all the State debt in the US, then there's another $1.1 Trillion.
If you also include all the local debt in the US then there's another $1.8 Trillion.
If we were to add all those together then you'd have total debt of $21 Trillion against GDP of $17.4 Trillion.
This equates to a debt to GDP ratio of 120% not 238% as shown on this list.
If we were to add in the unfunded liabilities for Soc Security and Medicare then that would be about another $200Trillion.
This equates to a debt to GDP ratio of 1260%, still not 250% as shown on the list.
When we look into the McKinsey list it shows US Government debt to be $34T...without explanation.
SO JUST WHERE THE HELL DID THE NUMBER 238% come from?
We all know the Western Nations are up to thier eyeballs in debt. This list appears to be massaged to lead to a certain debt ranking, because it is using unknown numbers from unknown sources.
If the numbers look dramatically different from the published ones, the someone has to say where the numbers came from, or the list is pure fiction. This is journalism 101.
There is more to support the idea that this list is produced expressly for the purpose of misleading people as to the national rankings on debt.
It postulates that the hogher debt to GDP countries may suffer from imminent collapse due to excess debt.
It ignores that the lower debt countries it lists are only lower debt because they defaulted, like Russia did in 1998.
So, let me get this straight. Lower debt countries will dominate because they borrowed and defaulted, while higher (currently) debt countries will not default but instead enter a new stone-age?
Seems a weak argument. There's no explanation why these countries won't simply dismiss their debt when the time comes.
This greater context behind this list seems to contradict its central argument. If the lower debt countries arrived in that state through default, someone needs to explain why that won't happen for the higher debt countries eventually....because it wil. The only question is the method of default.
The numbers are all made up; it is not real. We live in a paradigm built on a foundation of lies. Lie here a lie there..lies, lies everywhere. I digress:)
There seems to be different ways to calculate the debt-to-GDP ratio. I have seen figures for the UK in the 500-700 % bracket. Using this method, Japan has a lower debt-to-GDP ratio than the UK. The method used for the table above also seems to underrate the Swedish debt-to-GDP ratio compared to other countries.
Couldn't be bullisher, why have we be waiting so long.
There is a guy sitting at a computer terminal somewhere in every country. The leaders just tell him to add a few more zeroes to the amount of money they have on hand. Its all digital folks and why can't every country have a printing press like the USA and just print however much they want???
For the Netherlands I read 74% everywhere. Where does the 300% come from?
What about current account balances? Look where the Netherlands is here and then look where USA is. https://www.cia.gov/library/publications/the-world-factbook/rankorder/21...
Usually liabilities caused by things like future state pensions. Same with the UK - the debt/GDP ratio commonly seen doesn't count state od age pension liabilities
"either the Fed inflates this debt away, or one can kiss any hope of economic growth goodbye"
<ZH: did you really mean to write this or is it /sarc?>
... because more is always better ...
Irish and Singapore US multinational tax avoidance debt.... Double Irish With a Dutch Sandwich for lunch anyone. Heck the Irish corporate is big percent Gore and Cook rotten apples Icult... Why anyone buys products from these criminals is beyond me.
Thanks for the breakdown....
http://www.nytimes.com/interactive/2012/04/28/business/Double-Irish-With...
Information on globalist pigs http://www.icij.org/ is all that is hope... these politicians and fascist corporate hegemony is disgusting. More ISIS anyone? Hitlery or BUSHEE DNC/RNC are the terrorist...
Spains national debt has gone from 36% to 92% of GDP in 6 years.. yeah that sounds healthy.
But ol benny bernak told me thats all gonna change any time soon now, he promised it!
500% GDP will lead to full stati recovery
http://www.urbandictionary.com/define.php?term=stati
Eventually, I will die, and be free of government imposed obligations! Rejoice!
Court passes up new global spy case
DHS and NSA terrorist fake fears..
Daoud’s actual trial has not yet begun. Currently, the two sides are locked in a dispute before Judge Coleman over whether the government has to disclose to Daoud’s lawyers the identity of an undercover agent who supplied Daoud with a fake bomb and helped him plan to detonate the bomb outside a bar in the Loop section of downtown Chicago. The bomb, as the government had planned, did not go off.
http://www.scotusblog.com/2015/02/court-passes-up-new-global-spy-case/
DHS personnel are sickening and unAmerican bastards.
Incorrect. The biggest problem facing this world is the liberal progressive globalist scum bags. If we put these foul and vile creatures to the sword then things would rapidly improve.
That's a lot of blood man!!
If Krugman says the debt doesn't matter becasue it is owed to ourselves.....
then simply cancel it......
that won't matter either.
Then we can all move on.
who do they all owe the money to ?
Only 3 people and their names are "Me, Myself, and I"
Let me know when it's 1200%.
It needs to get outragiously insane before anything is realized.
The article infers that these numbers are for sovereign debt. It's even chosen as a tag-term. But no way in hell are these accurate numbers for public debt (far too high)
Are they numbers for public + private debt? Are they adjusted for the current account?
Private debt is the elephant in the room, particularly where it has ballooned to support asset bubbles. When those bubbles pop then yes, private debt becomes public debt (bailouts) but most of the countries on that list aren't there...yet.
Almost all money has debt behind it. By adopting bankster money we find ourselves in the ludicrous position of having essentially no permanent money stock (debt-money is eliminated when repaid). If all debts were repaid, almost all money (99%) would be eliminated and with no money, prices would tumble. Is the entire production of humanity to date worth a price of ~$0? No! So why are we using bankster money?
It wasn't always this way.
Right! Look at the change in debt to GDP ratio table in the article to find confirmed that the numbers are for government plus corporate plus household debt. I would argue that debt to GDP ratios are not telling. Debt to tax income ratios are more telling. The indebtedness is much higher if this ratio is used but that is the same calculation than for a private household comparing annual income to debt. I believe some countries are meanwhile at at ratio of 1.500% i.e. 15 times income.
True. I can sell you a widget then buy it back, sell it again, buy it back again, repeat. Nothing changes but GDP keeps increasing.
GDP is confounded with velocity, it's no measure of incomes or wealth, so you're right, the numbers are worse than they appear.
Then there's the issue of unfunded liabilities: the pension ponzi faced with a tapering demographic profile...
Meh? Wake me when it hits 500%
I'll sound the alarm; was there a particular country or two you would like to be notified?
Imagine; Russia did not make the list, seems by the propaganda they should have been right below Japan.
-
Can we call in a revisionist please; preferably one from Chicago...10-4..copy-that!!
Russia's government debt to GDP is 13% and national reserves exceed that of the USA plus Germany. In a no-income situation Russia would last for 4 years and the US for 15 days
Competitive currency devaluation is the only way out of this; namely, every nation will want to pay back with cheaper dollars [or whatever their currency is].
Hey, Brasil is doing better on this score than I thought. Although much of the high "corporate" debt probably should be added to the government account due to the number of government sponsored corporations - EMBRAER, PETROBRAS etc.
Much better than our doorknobs in Ottawa, Robert.
OT...interesting A/H trades all between 5:12-5:14... 4 buys of VXX at $15 million - $17 million each...whazzup?
I will see your banana republican and print a trillion more!
Biggest problem is central bankers and creditors who have bought all the politicians so they can demand payment in full and insist sovereigns not default on any of the odious debt the banks created to enslave people's of the world.
The debt to GDP is all about the bankers -- they could have said "no" to all the massive Sovereign spending and entitilement programs long, long ago.
I agree.
Money & Gift Giving is half of the cause of Corruption.
-------------------------------
--- Teeth's US Dream Anthem --
-------------------------------
- It is 1 Minute to Midnight: Neo-Feudal Debt Slavery & nuke war
- Problem is Bankers, Politicians, Lawyers & Judges
- Failure of Self Regulation of Bankers, Politicians, Lawyers & Judges
- US Constitution is Usurped, Gone are Budget Powers, Legislative Powers, War Powers
- Money has taken over the Government, Banking, Universities, Science
- American Dream is over, Corruption is the same in all Countries now
- Old American Dream may serve as basis for new Country someday
-------------------------------
--- Teeth's US Dream Anthem --
-------------------------------
Russia only 65% and not even in the first list.
We must bomb them and bring them freedomTM. s/
wow. this sure explains why Indonesia is doing so good, doesn't it?
The $1.5 Quadrillion Petrodollar Universe of Dark Pool Derivatives is the biggest problem in the World, I beg to differ, Z/H. Dr. Brooksley Born made that obvious in 05/06 to all in the World when she challenged Greenspan,Summers, Rubin, and Levant IMHO.
So let me get this right: If I have a big roomy house with its big lawn and its large swimming poll in sunny California, with two big cars and an expensive garage to park them in, but none of that is mine because I owe it all, I live in a delusional wealth. In fact, I'm flat broke and my scheme is only sustainable as long a I don't have to give it all back.
So actually, the truth is we "developed countries" are all paupers?
sheeple paupers
I have said this before here centra banks are trapped, they cant take rates lower, banks/pension funds ect are forced to hold Govt debt.. if the yield is too low or negative they will erode their capital base and go under,
so they need to let rates rise while QE'ing the debt away which is tough to justify,,,
I have said this before here centra banks are trapped, they cant take rates lower, banks/pension funds ect are forced to hold Govt debt.. if the yield is too low or negative they will erode their capital base and go under,
so they need to let rates rise while QE'ing the debt away which is tough to justify,,,
we suck ---- can't make the top 10 anymore ?!?!?!?!
Who's ass was that list pulled out of?
Norway, 244%? As just on example of total BS.
Agreed, the list is crap.
Norway and Singapore do the same thing, the government sovern wealth funds "honestly Borrow" from the pension system (and its booked in the accounts which is why it shows up, unlike congress when it steals the social security paroll tax EVERY YEAR and doesn't report it as debt) to invest so that the pension accounts get a higher return for each account holder. Note, in the Singapore pension scheme are CANNOT receive more than you put in. They do NOT borrow to fund government operations....like some countries with aircraft carriers that we all know and love. So the borrowings are covered by LIQUID assets.
i've lived in singapore for 25 years, they've run a budget deficit 3 times in 25 years and paid it off 100% the two years following each deficit, they produced surpluses for every other year.....and this list shows Singapore at 300%?
I call bull shit!
Sorry Tyler, you barfed all over yourself here.
:)
Squid
Oops, so sorry, forgot the prefix.
un382%
this all becomes a non event when the virus takes hold!!
Where's Iceland on that list? ;-)
GDP may be the most meaningless term in economics today. The only valid three letter acronym left is WTF.
Some statistics do still hold my attention though. A few years back I was working in England and one of the dailies had a survey about which city in the UK has women with the biggest tits and slimmest waists. I'm pretty sure every guy in the cafe was reading the same article.
Blood, land aquisition, and slave labor to make huge comeback.
But It DID NOT WORK FOR MEXICO. Didn't they collapse in the 1980s. Lots of Blood spilled, slave Labor, etc.
This list/chart is a little deceptive, in that it includes some places that actually have very low debt levels, but have a couple banks with liabilities, and assets, disproportionate to the size of the economy in which they happen to be located, e.g. Singapore.
hyperinflate out of debt.
My hay stack is worth 50% of my debt.
My wood stack is worth about 10% of my debt.
I hear China is stacking.
Stack On
US is better than Greece and worse than China on this list. Russia has very low debt. Ukraine is not even on the list.
Therefore, the list is complete bullshit. That or this debt-to-GDP is a useless political construct.
"Year of the Sheep, Century of the Dragon?" by Pepe (the Roving Eye-- peripatetic extraordinaire indeed!) Escobar
http://atimes.com/atimes/China/CHIN-01-230215.html
jmo
We owe this all to Nixon and Kissinger via the Vietnam-Debacle?
Noteworthy: Once Nixon resiged he was on assignment for every president to follow (Ford, Carter, Reagan, and Bush #41-- always on secret liaisons til his death in April of 1994!
Good Riddance!!! Nuttin Change`s, Is... but, the definition of what`HOPE, is?
jmo
Argentina at 33%. So that is what happens when you throw out all the Austerity goons? Last list show 39 "too-full-of-themselves" countries that refuse to follow Argentina's lead, and continue kissing the arse of Neo-Liberal trickle-down policies.
And... Central Banks, folks. The main tool of economic and financial policies CAN'T belong to a bankers' élite.
OECD
http://data.oecd.org/united-states.htm
Click country statistical profile> Browse by country. This report was last updated on December 12, 2014.
Wonder what the count would be if everybody was telling the truth about their fiscal situation?
what methodology to calc the GDP has been applied?
I can whitewash even Japan, if I use certain numbers.
The table is total bull***t, if they do not declare what is compared to what and how is it calculated.
...so then, all the currencies' are lies eh? Sounds like a good summary to me.
And despite all this, we still haven't blown up yet...
m
Where is Iceland? Just curious.
What a flawed analysis. Not distinguishing foreign debt and domestic debt. One track analysis as some countries have huge foreign reserves that can be drawn on to reduce debts.
In a global economy, some of the nations' Corporations are multinationals and their debts for their international trade and investments have no impact on the national economies.
An assumption by these flawed minds that ZHers are dafts and spinning their one knicker fits ALL can sell.
add a column and include "Debt to Tax Revenue" and watch the percentages explode..
Based on Japan's success at printing like crazy for 3 decades and getting away with it, I'd say its completly meaningless until nobody is willing to accept your paper or digital promises in trade.
How many more DECADES of this will go by before everyone sees that government debt issuance is ALWAYS a con job that results either in more printing or default, or BOTH?