Posted on 02/07/2012 3:07:13 PM PST by library user
Breakdown of how each region’s external debt around the world has evolved through the decades, starting back in 1970, all the way until today.
We all read about the U.S. national debt, and whether we should be concerned that it’s in the $12 trillion range these days. But the United States isn’t the only country carrying a huge amount of debt. In fact, it seems that operating just about any country is a money losing proposition.
According to the CIA’s Worldbank data, the majority of countries carry huge sums of national debt. And for most countries – although there are exceptions – that debt is constantly rising.
Look at Mexico: In 2000, the country had a $150.3 billion national debt. That’s miniscule by U.S. standards, yes, but, like the United States, Mexico’s debt is growing. Worldbank estimates that the country’s national debt has risen to $189.4 billion in 2010.
And Mexico is far from alone: Poland’s national debt has risen from $65.8 billion in 2000 to a much higher $185.2 billion in 2010. Hungary’s debt has jumped from $29.5 billion to $134.7 billion during the same time, a rather large bump.
Turkey, too, has seen its national debt soar. The country’s debt stood at $117.3 billion in 2000, but is estimated to be at $310.6 billion now. In India, the national debt has risen from $99.1 billion in 2000 to an estimated $204.5 billion in 2010.
Not all countries, though, are adding to their debt. Some have managed to slash their debt over the years. Brazil has seen its national debt fall from $239.2 billion in 2000 to $232.3 billion in 2010. Argentina’s national debt has dropped from a mark of $147.5 billion in 2000 to $132.7 billion today.
In all, though, most countries and regions have seen their national debts rise fairly steadily during the last decade. This might give some comfort to the people worried that the United States is growing its debt too quickly. Though to be fair to the critics, there is no country out there growing its debt quite as significantly as is the United States.
According to the U.S. Treasury Department, the U.S. total national debt has increased more than $500 billion each year since fiscal year 2003. This includes sky-high yearly increases of $1 trillion in fiscal year 2008 and $1.9 trillion in fiscal year 2009.
If the United States was a consumer, then, it would have long ago maxed out all of its credit cards.
I’d like to see it as a fraction of GNP, GDP, or even per capita and adjusted for inflation. I’m also not thrilled that they top out at $500B for a country, not when our annual deficit is more than twice that value and our debt is 30 times as big. That makes most national debts look equal, even when the differences are both huge and meaningful.
Here is a real joke
http://www.freerepublic.com/focus/f-news/2843357/posts
The only way to handle the debt is massive devaluation. A price increase of 2% is ludicrous. There will be universal devaluation to devalue the debt
Very good point. The data in the graphic is also (based on the image URL) two years out of date.
Are there any maps that put the debt into perspective of debt per person in a nation?
This is one for the macro-econ. folks: If every country is in debt, where is all the money?
Now it's real policy:
Inflation is Your Friend
Except that, this time; inflation is not reported.
Excellent - thanks!
Well done!
It demonstrates the strategy that is currently underway......bankrupt the world and allow the socialists and islamists to take-over and fight it out for the end.
exactly right
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