- October 31, 2012 at 9:36 am #56949
Below is a link showing Spain’s national debt clock ticking away increasing ever more and more, just in the same way that the National Debt clock is shown in the United States.
Spain’s national debt stands at roughly 614 billion euros (excluding any bank bailout) and the debt represents 72% of GDP.
The US national debt stands at 16 trillion dollars which is 16,000 billion dollars. This represents a debt to GDP ratio of 104%. Back in 2008 the national debt was 10 trillion dollars, in 2004 the debt was 7.5 trillion dollars, in 2000 the national debt was about 5.5 trillion dollars.
A trillion is a thousand billion or a million million.
The US national debt is increasing by one trillion dollars every year.
The UK national debt stands at one trillion pounds which is 68% of GDP.
Greek national debt stands at 310 billion euros, which is 154% of GDP.
Portugals national debt stands at 185 billion euros, which is 109% of GDP.
Japan’s national debt stands at 996 trillion yen or 12.5 trillion US dollars, which is an astonishing 188% of GDP.
Germany’s national debt stands at 2 trillion euros, which is 84% of GDP.
France’s national debt stands at 1.8 trillion euros, which is 92% of GDP.
The global debt clock stands at around 43 trillion US dollars and increasing.
- October 31, 2012 at 4:37 pm #113206
Jakesuper take a look at Irelands external debt to GDP. What’s your view on external debt? To me in these times a lot of it should I don’t think it’s absurd to imagine that a quite big chunk of it will be transformed into national debt when those assets are liquadated. I’m not sure why not more people are worried about it. At least those with big exposure to the PIGS. As you can see the external debt explodes as soon as banks are nationalised.
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