The Economist: Global Debt Comparison

[Mackie]

Found a nice tool showing public debts today and estimated numbers till 2011.

http://buttonwood.economist.com/content/gdc?source=features_box4


How to reduce these debts?
On option: balanced national household and reduce it by growth of the economy.

[futurepilot2004]

Ireland = Ouch
Debt:$129,889,000,000
Per capita:$29,955.60
Population:4,300,000
% of GDP:56.9%
Yearly rate of change: 32.8%

Just shows how much of hammering the Irish economy has taken this year.

[CMNot]

Think that's bad, hover over Japan p-)

[Andreas]

Hehe the US and Japan has 50% of all global debt...

Hmm, seems Norway has more debt per capita than the US, that cant be right...

[Chulo]

How are the African countries with lower debt? Dont they get shafted by IMF?

[futurepilot2004]

How are the African countries with lower debt? Dont they get shafted by IMF?

Didnt G8 countries cancel a lot of their debt a few years back?

[Mackie]

Think that's bad, hover over Japan p-)

Looks like bought by a private equity company. Damn Brits! p-)

[CMNot]

How are the African countries with lower debt? Dont they get shafted by IMF?

It's deceptive. Their debt per capita figure is low, but outright some of their debt as a percentage of GDP is not exactly impressive.

[Mackie]

A good indicator would be: Debt per capita compared to the average income

[Podman]

How are the African countries with lower debt? Dont they get shafted by IMF?

Their debt is low because few entities are willing to lend to them and Africa doesn't have well developed capital markets.

The IMF has nothing to do with low lending levels. In fact, the IMF is among the few that will lend to them on reasonable terms which is why the IMF demands government reform as a condition for the lending since they want to get paid back.

[void]

Think that's bad, hover over Japan p-)

The advantage that Japan has is that almost all of its debt is domestic in nature, rather than foreign. The debtors are the Japanese people themselves, as opposed to say in Ireland or the USAs case where the debt is predominantly foreign debt.

[plato]

The advantage that Japan has is that almost all of its debt is domestic in nature, rather than foreign. The debtors are the Japanese people themselves, as opposed to say in Ireland or the USAs case where the debt is predominantly foreign debt.
Roughly 25% of US debt is foreign debt.

[void]

Roughly 25% of US debt is foreign debt.

If you count all US debt (including private), the Gross external debt amounts to $13 trillion. For Japan, this figure is $1.5 trillion.
So I guess youre right that as a share of public debt, foreign is 25% for the USA, but as a share of all debt its much larger.

[Lethal Lou]

Three ways to eliminate debt of the magnitude we are incurring . . .

1) inflate our way out; if future dollars are worth less than todays, then easier to pay back

2) increase the value of US currency compared to others; direct action

3) repudiate debt

and I thought of one more

4) hack the database that records who owns what bonds/notes; then deny claims against same - so sorry, no record of that bond being issued

[plato]

If you count all US debt (including private), the Gross external debt amounts to $13 trillion. For Japan, this figure is $1.5 trillion.
So I guess youre right that as a share of public debt, foreign is 25% for the USA, but as a share of all debt its much larger.how much larger?

[ting]

Hehe the US and Japan has 50% of all global debt...

Hmm, seems Norway has more debt per capita than the US, that cant be right...

I'm sorry to be the one to tell you this. Perhaps you'd better have a seat.
Our finance minister has a gambling problem.:-(


Seriously, I have no Idea what these numbers represent. Someone who is into economic voodoo will hopefully enlighten us simple Norwegians.:-P

[jonosk]

I think that Iceland has the biggest debt per capital

[void]

Three ways to eliminate debt of the magnitude we are incurring . . .

1) inflate our way out; if future dollars are worth less than todays, then easier to pay back

2) increase the value of US currency compared to others; direct action

3) repudiate debt

and I thought of one more

4) hack the database that records who owns what bonds/notes; then deny claims against same - so sorry, no record of that bond being issued

Number 2 certainly doesnt work since Americas debt is denominated in USD, so if the value of USD increases, its actually better for the creditor nations and worse for the US.