48,000,000,000,000 $us

Skybird · 05-27-10, 10:23 AM

That is the financial debt of the 82 biggest economies this year, according to Global Insight who briefed German newspaper Die Welt on the matter four days ago. Next year, they say, it will reach 52,000,000,000,000. Nobody knows how this mountain ever could be reduced in size again. The yearly interests for it that need to be serviced, range at around 350 billion - every year.

In 2007, the new government's debt raise for these countries was 247 billion. This year, it will be around 3667 billion. In 2014, they expect a new government debt of around 1737 billion. In very deep trouble they see the United States, which all by itself mounts one third of the total debts burden of these 82 nations. Spyros Andreopoulos wrote in an analysis for Morgan Stanley that from a fiscal point of view the country's economic situation compares to that of a nation just having survived WWIII.

(German)
http://www.welt.de/die-welt/wirtscha...-Schulden.html

P.S. Just today, after a meeting with his German counterpart, Timothy Geithner has demanded Germany to make more debts. Well, maybe on the bridge of the Titanic the nautic counterpart to Geithner tried to raise the mood by calling "All full ahead!"

In this context, a very good analysis focussing on the European aspects of the crisis, which is in the most a crisis of our living styles and our unlimited sky-high expectations to the state, and why this modern crisis can no longer be adequately understood and adressed by the theory of anti-cyclic behavior according to Keynes ("spend in times of crisis, save in economically good times"):
(German) The Party Is Over http://www.welt.de/debatte/kommentar...yes#reqdrucken

P.S. Popular German media can sometimes produce very good essays, but with the exception of Der Spiegel - which has a quite substantial English edition - they are so very provincial in that they do not publish an international edition.

05-27-10, 10:23 AM	#1
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,602 Downloads: 10 Uploads: 0	48,000,000,000,000 $us That is the financial debt of the 82 biggest economies this year, according to Global Insight who briefed German newspaper Die Welt on the matter four days ago. Next year, they say, it will reach 52,000,000,000,000. Nobody knows how this mountain ever could be reduced in size again. The yearly interests for it that need to be serviced, range at around 350 billion - every year. In 2007, the new government's debt raise for these countries was 247 billion. This year, it will be around 3667 billion. In 2014, they expect a new government debt of around 1737 billion. In very deep trouble they see the United States, which all by itself mounts one third of the total debts burden of these 82 nations. Spyros Andreopoulos wrote in an analysis for Morgan Stanley that from a fiscal point of view the country's economic situation compares to that of a nation just having survived WWIII. (German) http://www.welt.de/die-welt/wirtscha...-Schulden.html P.S. Just today, after a meeting with his German counterpart, Timothy Geithner has demanded Germany to make more debts. Well, maybe on the bridge of the Titanic the nautic counterpart to Geithner tried to raise the mood by calling "All full ahead!" In this context, a very good analysis focussing on the European aspects of the crisis, which is in the most a crisis of our living styles and our unlimited sky-high expectations to the state, and why this modern crisis can no longer be adequately understood and adressed by the theory of anti-cyclic behavior according to Keynes ("spend in times of crisis, save in economically good times"): (German) The Party Is Over http://www.welt.de/debatte/kommentar...yes#reqdrucken P.S. Popular German media can sometimes produce very good essays, but with the exception of Der Spiegel - which has a quite substantial English edition - they are so very provincial in that they do not publish an international edition. __________________ If you feel nuts, consult an expert. Last edited by Skybird; 05-27-10 at 10:42 AM.