The World Economy Visualized

Tyler Durden's picture

Via Jim Quinn's Burning Platform blog,

If itsy bitsy pie slice – Greece (.33%) – can create this much worldwide economic havoc because of their unpayble level of debt, imagine what will happen when the truth is revealed about France (3.81%), Italy (2.88%), and Spain (1.88%). China’s (13.9%) entire economic model has been built upon debt and the world consuming their output.

The world has run out of money to consume their shit. Japan (6.18%) is in the midst of a demographic and debt death spiral. The U.S. (23.32%) is living on borrowed time and the continued dominance of the USD. How long will it last? We are inhabiting in a world stacked with TNT run by monkeys with matches.

Courtesy of: Visual Capitalist
 

Today’s data visualization is the most simple breakdown of the world economy that we’ve seen. Not only is it split to show the GDP of dozens of countries in relation to one another based on size, but it also subtly divides each economy into its main sectors: agriculture, services, and industry.  

The lightest shade in each country corresponds to the most primitive economic activity, which is agriculture. The medium shade is industry, and the darkest shade corresponds to services, which tends to make up a large portion of GDP of developed economies in the world economy.

To take it one step further, the visualization also shades the countries by continental geography, to easily see the relative economic contributions of North America, Europe, South America, Asia, Oceania, and Africa.

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CHC's picture
CHC (not verified) Jul 23, 2015 10:05 PM

Nice article.  Funny comments: The world has run out of money to consume their shit.  Plus: We are inhabiting in a world stacked with TNT run by monkeys with matches.  THEY'RE BOTH TRUE.

Richard Chesler's picture

No worries, raising minimum wage of Obozophone holders will make it all better.

Yes we can!

 

halfasleep's picture

why nothing about the petrobras scandal on ZH?

Luc X. Ifer's picture

there it goes the glory of the planet earth - just a giant cosmic ragball ...

JJdog's picture

"No problem here, we'd got tons of ink for our printers.  Printing money is the only way to prosperity."  Yellen

TeamDepends's picture

Hey guys, let's hear how Oprah and Tom weigh in on this cultural shift. Perhaps they will help shape your opinion.https://m.youtube.com/watch?v=MypMBfdjn_M

WTFUD's picture

In 1929 the US produced 42% of the World's Output with Germany,UK and France combined at 28%.
Merde that's 70% for these 4 Imperialists.

So we now have US on 23% and Germany,UK and France combined 13%, totaling 36%.

More killing is required to take back whence we came.

kchrisc's picture

Should only have four pieces: Zion, China, Russia, and those three's "toys."

Liberty is a demand. Tyranny is submission..

monad's picture

I have a globe that was made by Rand McNally around the turn of the last century. It demarcs the Ottoman Empire, the Chinese Empire and the Russian Empire.

The rest is detailed as nations. Those American republicans were optimists.

WTFUD's picture

When the creme brulee of financial chicanery evaporates the UK will slide into the ROW.

monad's picture

How old is this? The literacy rate in the US is not 99% Bwahaha The media literacy rate is about 40% Bwahahaha

TheMerryPrankster's picture

Consumption - the old phrase for tuberculosis, - he died of consumption.

Surging Chaos's picture

It still blows my mind that no one bats an eye to Japan's ridiculous government debt. Then again I keep underestimating the power of the printing press.

moneybots's picture

"If itsy bitsy pie slice – Greece (.33%) – can create this much worldwide economic havoc because of their unpayble level of debt..."

 

But it isn't Greece.  It is the total package that is creating world wide havoc, as Greece is just the first domino of many to fall.

The G20 didn't change the rules for depositors because of Greece.  It changed them because the G20 has the same problem as Greece.

smacker's picture

There is a huge ring of dominos with each one representing a part of the current global financial and economic system...banks, pension funds, .govs, stock/bond markets, money markets, derivatives etc etc.

When the first one topples, the rest will follow in short order with no possibility of preventing it. The role of central banks and the like is to prevent the first one toppling.

When it happens, civil unrest will break out and the rest will be history.

sleigher's picture

USA, USA, USA.....

 

 

 

we're winning right?

77steel's picture

Interdependent highly integrated systems will get you killed.
Soon you'll see the dominos fall.

Zen Master's picture

This sums up the world pretty well:

 

https://youtu.be/epjrWjo9ZMY

Charming Anarchist's picture

The lightest shade in each country corresponds to the most self-sufficient, peaceful and intelligent form of human action, which is agriculture. The medium shade is man's choice to be dependent upon resources which require travel and more dangerous labor, and the darkest shade corresponds to inter-personal dependence at such degenerate sycophantic levels that mankind would unravel into unimagined violent chaos, which tends to make up a large portion of GDP of developed economies in the world economy.

erk's picture

The graph is nonsese, it's just showing GDP which is money flow, not goods and services. Even GDP (PPP) would have been better and given a different perspective.

 

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

 

http://statisticstimes.com/economy/countries-by-projected-gdp-ppp.php

 

 

smacker's picture

I agree with you. The two charts you link to show sets of data which are far more commonly used to show each country's relative size.

This funny chart shows China=13.9% and the US=23.32%. That is way different to data published for ~3yrs which show China being very similar or slightly larger than the US.

Bazza McKenzie's picture

What is really interesting is that nominally Russia accounts for 2.5% of the global economy, about 1/9 of that of the US, half that of Germany, and about 2/3 of that of the UK and also France.

Despite that, Russia manages to be militarily 2nd in the world (http://www.globalfirepower.com/) and ahead of the US on factors that would matter in a Eurasian conflict.  Militarily, it leaves the UK, France and Germany in the dust.  None of the Europeans has a nuclear arsenal or space program remotely comparable to Russia's.

The US annual defense budget is 10 times that of Russia and its external debt is 20 times that of Russia (this is not a good thing, in case like Congress you were confused).  Russia has oil reserves 4 times those of the US.  It produces 3 times the amount of oil it consumes while the US produces less than half of its consumption.

Russia is clearly doing something right, compared to the US and European countries in the defense effectiveness it achieves from its economic output, and doing so without having to depend on foreign borrowings like the US.  It is also not allowing itself to be overrun by thirdworlders.

Who is doing a better job protecting their country and its interests, the leaders of the US or Russia?

Ghordius's picture

and is that good for Russia or the Russian People?

as a side remark, the 19 eurozoner together spend twice that Russian spending for military, the EU's 28 three times that, with 1.5 million soldiers

do we want to invade Russia? no. does Russia want to invade us? no. and it could not

comparisons with the US make all this whacky because the US spending for military is whacky. it's as much as the next 17 budgets together, for criminy

"It is also not allowing itself to be overrun by thirdworlders". that is neither here nor there. Russia is not that attractive in climate, business climate and language, and Russia is at the same time the only previously colonial power that borders next to it's former colonies, and relatively isolated from a lot of the rest of the world, geographically, not by water but by the many hard borders that the third world has

nevertheless, Russians are only 81% of the population of the Russian Federation, with a very varied "rest", the biggest group of which is Tatars, with 3%

the Kremlin has two reasons for such a high military spending: a border to China (and many former satellites) and a willingness to play the Great Game (which leads to the new satellites)

both are valid reasons, imho. but follow a different narrative from yours, particularly on the matter of this "fervent American wish" for an "EurAsian conflict". no comment about your last question, btw

Bazza McKenzie's picture

Ghordius, you sort of missed my point which was really about what different countries achieve in terms of effective defense capability from their defense spending.

Without trying to cover all the EU, aggregating Germany, France, UK, Italy, Spain and Poland, their defense spending is about $US180B compared to $60B for Russia, ie consistent with your 3 times.  For that they have 1.1 million in the miltary compared to Russia's 766K, and they have another 1.1M in active reserves compared to Russia's 2.5M.  Of course what then matters is the fighting equipment they have for those personnel.

Their total aircraft exceeds Russia's by about 30%, though arguably Russia has better military aircraft.  There is parity in AFV of about 31K each.  Thereafter, on the ground, Russia has superiority, with tanks 5:1 (Russia has 15K tanks); self propelled guns 5:1; towed artillery 6:1; rocket launchers 10:1.

Then of course there is the nuclear portfolio, where Russia has 7,500 warheads and between them the UK and France have 500.

So compared to that EU group Russia appears to be doing far better in bang for buck, though my original comment was really directed at the comparison with the US in terms of effectiveness of military spending.

I don't expect Russia to intentionally invade Europe or vice versa but with the games the US is playing in Ukraine with the collaboration of the EU there is always the possibility of a mistake that escalates into a serious shooting war, at which stage I would not expect Russia to stay within its borders.

Seriously, you cannot expect either France or the UK to use their nuclear weapons unless their home territory is attacked.  The same is true of the US.  So if the provocations going on on Russia's border do explode at some point it will be really nasty for the frontline countries and maybe for Germany.

Given that situation, it has been really stupid for the major European countries to acquiesce in US troublemaking in the area, but they have got themselves compromised by the EU's push to also expand into the countries bordering Russia.

Ghordius's picture

Bazza, +1, you were writing about "bang for the buck", yes, and I was writing about the premises in your discourse

"...at which stage I would not expect Russia to stay within its borders". interesting. why not? you yourself just calculated that for Russia to invade the center, it would have to deploy it's reserves

"deploying the reserves" is just another term for saying: a death toll of millions. that's a lot of Russian boys and men I would prefer not to see die, and the Rodina shares my feeling about her sons

I repeat:

the main reason for Russia to have such a vast military power is that it sits next to China. that simple, even a friendly dragon is still a dragon

the secundary reason is... the old colonial/imperial Great Game it's still playing. and why not? the west does nothing else

"the EU" is out of this game. some idiots there thought it would be cool to pay for propaganda and support, but Vicky made short business of that. and frankly, they never ought to have even a try. this, for good or bad, is sovereign business

Bazza McKenzie's picture

The reason I say Russia would not stay within its borders if attacked is simply that any country able to roll back an attack on itself will attempt to expand the buffer territory around it as a defense against subsequent attacks.

I would not expect Russia to attempt to conquer all Europe, for instance, but to occupy adjacent countries or parts of them in the event a war started.

I take your point about China, which is inevitably a risky neighbor.

Re your second point, I have a slightly different perspective.  History shows a continuous panorama of invasions of physical territories, dispossession, subjugation, advancement of the winners, destruction of the losers.  Europeans, for a time, might have thought that was a game while they were doing it elsewhere in the world.  It was never a game to the people being overrun and killed.

I think Russians have more of a long term sense of history and innate peril and treat it as a real concern, while most of the West, despite the history of wars in Europe, now thinks war is something that happens to other people, and western politicians and media, with their short term, ever changing focus, will ignore such risks until it is too late and they have left their countries unprepared.

 

quasi_verbatim's picture

Lies, damned lies and broken-crust pie charts.

Who assembled the stats, BLS?

Debugas's picture

look at how service part is the largest part almost in every country.

in the past most of ti would be agriculture

This rerpresents technological progress. Lets hope in the future service part will be replaced by something even more exciting

Ghordius's picture

interestingly, the authors of this pie chart did not make it easy to discern neither the eurozone nor the EU as "blocs" in comparison with the US or China, or to compare the BRICs to "the West"

meanwhile the author from the "burning platform blog" takes this pie and makes a completely different discussion out of it, and a whacky one, to boot

this "itsy bitsy" pie slice of Greece (0.33%) is such a burning issue not for it's size, but for it's placement in the bloc's discussions

another populist item of discussion is the return to the "unpayable level of debt", something that preys on the ignorance of the masses about the fundamental differences between sovereign and private debt, or between commercial and consumption debt. debt is not created equal, and is not payed in the same manner, or at all, across those lines

a small historic proof for that: the ancient debt jubelees, for which we have plenty of archeological records, particularly from Babylon, were always about consumption debt, and never for commercial debt

and the later debt jubilees, for example that of Solon the Lawgiver, the same. in fact, this one increased Athen's sovereign debt... in order to pay for the return of the victims of debt, the citizens that were sold to foreigners as slaves for their debt

WTFUD's picture

In Reality the US should read 2332% expressed in derivatives or is that 0.2332% in real terms?

Batman11's picture

For those with short memories, all it took last time was the collapse of a small segment of a single nations housing market (US sub-prime).

Pre-2008, the bankers told us how they could mange risk by spreading it through the system with derivatives.

When put to its first test, derivatives magnified losses by 2000%.

James Rickards in Currency Wars gives some figures for the loss magnification of complex financial instruments/derivatives in 2008.

Losses from sub-prime - less than $300 billion

With derivative amplification - over $6 trillion

Anything can blow up the global financial system.

Greek debt is  of the same magnitude as the losses from sub-prime, it is the derivatives that do the damage.

 

TheMerryPrankster's picture

It turned out diluting pure mountain water (prime securities) with sewage (subprime)

didn't make the sewage (subprime) better, it just destroyed the (pristine mountain water (prime.)

But the effect was to diffuse it throughout the entire economy like tnt on the structural beams of a skyscraper, so that when the diffuse economic time bombs went off they toppled the structure, rather than being isolated as they were meant to be under older economic rules.

"Toxic finance" its whats for lunch. Its the new white meat, its the only game in town.

Perfecthedge's picture

Potatoes are unimportant.  Fuck Potatoes and Fuck Food.

What is important:

1. Kim Kardashian

2. Goldman Sachs

3. iPhones & Selfies

Everybody should stop eating and lick Kim Kardashians asshole off their iphone screens.  Good for weight loss too.

Wrascaly Wabbit's picture

"We are inhabiting in a world stacked with TNT run by monkeys with matches". The best one liner I have read for a while>

Sauerkraut-Opinion's picture

Fast shrinking Ununited Europe a little bit more than 24% (...at least the selection of here mentioned countries...), the already United States around 23.3%....but in one year when things are going on the Euro will have destroyed another 10% within Europe... 

TheMerryPrankster's picture

mONKEYS WITH MATCHES implies ignorance or innocence. The people in charge are far more malevolent and deliberate than that.

Psychotics with flamethrowers would be more accurate.

Hyjinx's picture

Does Russia have 10 aircraft carrier battlegroups?  I think not.  Our money does go somewhere but I agree we probably don't get as much bang-for-buck as the Ruskies.  They don't have unions and gouging defense contractors in Russia.

Salzburg1756's picture

They forgot USrael.

orangegeek's picture

HOLY SHIT TYLER!!!!  Thank you for finally posting this.

 

The masses are focused on the pimple on the elephant's ass and somehow ignore the elephant itself.

 

Trained sheeple.  *sigh*

Fuku Ben's picture

Any future Universal financial solution would be financial. Not non-partisan politically but all-inclusive. There would have to be no discrimination. And managing that perception and the reality would be a tremendous challenge. This Universal solution would need to be finalized as a vision and a plan first. And also need to incorporate ideas from everywhere and everyone. This would be a monumental task and no doubt many political hurdles would need to be cleared in order to be successful.

Undoubtedly there would need to be many politicians involved playing their roles in that plan. Some of you may have found a previous comment or two pertaining to politics amusing. However, my future comments will focus solely on vision and plan in order to avoid any political related opinions and commentary as best as possible. And also to avoid any opportunities for those that would seek to derail any future actions. Just in case some visionary may utilize some of my efforts to contribute towards their plan and discredit them by claiming the source is biased.

Each nation has their their own respective political goals and challenges. Recently we've seen some visible political situations like America & Iran, Japan & China and in the EU as well. And I don't envy their difficult tasks. I've read and sent books from a number of current and former leaders as gifts, not as political commentary or any form of partisan gesture. This was only done as either as a means of learning from their experiences or sharing ideas of theirs with others. The last Politician's book I read and also mailed to a relative was one from President Obama. Regardless of any political opinions which of you would be able take on such responsibility at such a young age and with limited experience at a Global level and be successful?

All-inclusive and Universal mean including everyone. Learning from the tremendously diverse past history and cultures of the world. And applying them all to a better future for yourself or others. I've done this most of my life and continue to do so more frequently each day. My personal relationships alone would reflect my openness to this as well as to judge a person for who they are on the inside not on the outside.

Like many of you I've been incorrectly judged by others without them knowing the slightest bit about me or making assumptions based on things like prejudice or hatred. It can be frustrating and even very dangerous. One of my favorite books as a young child was To Kill a Mockingbird. I always admired Atticus Finch and his determination. At the time I didn't fully realize why. But as I grew older I realize it was because when there is imbalance and injustice there needs to be someone willing to risk everything to correct it. The Mockingbird will fearlessly defend their nest again any size attacker. And the finch is a tenacious fighter for its size. A future visionary with a financial solution would also need to do the same on a Universal level. And their ability to maintain balance and seek justice with respect to how the world works today will be an astronomical task. Don't envy them. And they wouldn't want your pity either but your support.

Many of us do this in our own small way each day. Maybe through charities or in other ways. I happened to be at a stoplight today and saw a young man with a small sign. It said jobless and homeless please help any assistance appreciated. So I offered him something cold on a very hot day and we exchanged mutual blessings for each other. Sadly even what I gave him could be twisted by those that would seek to derail a positive gesture and make it something it is not. And also while our current society would focus on things like age, race, looks or cast some other way of causing division I choose to look at the biggest picture. This young man, who in this instance just happened to be African American, was seeking help for the financial injustice of not having a job or a home. It doesn't matter to me what category society would have us label someone. I saw him as another example of a future that can be prevent for millions, if not even possibly even billions in the near future, who will be in the same financial predicament. And for those of you that have or will assist averting the current future my blessings go out to all of you too.

This chart is a great picture that speaks many words.

Here are a few sources on derivatives. You will get better idea of why I would consider these the most dangerous potential cause leading towards an upcoming calamity affecting everyone. They were the last time around but averted temporarily and this time they are far more dangerous for a variety of reasons.

Milken Institute: http://www.milkeninstitute.org/blog/view/580

American PBS Video regarding 2007/8 collapse: http://video.pbs.org/video/1302794657/

Just some of the Global Derivatives Numbers: http://www.bis.org/statistics/derstats.htm

Note: The BIS files have breakdowns by country.