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Reply #26: Guess Which Country Has Debt Of Nearly 1000% Of GDP... [View All]

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 06:50 AM
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26. Guess Which Country Has Debt Of Nearly 1000% Of GDP...


A few notes here:

This chart is looking at all kinds of debt, not just sovereign debt. The UK's staggering debt-to-GDP ratio is largely due to the size of its financial sector.

All financial sector debt is, to some extent, potentially government debt, since all governments end up having to rescue their financial sectors in the event of a crisis. That's what brought down Iceland and Ireland.

And yet, for reasons we explained here, the UK is still seen as a gold-standard among safe-havens.

By no measure does the US look remarkable debt-wise -- even household debt/GDP doesn't look that bad. For that matter, Europe doesn't look that bad either. Their problem is not debt, but fiscal/monetary structure.


Read more: http://www.businessinsider.com/g10-countries-by-total-d...
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