us debt
Submitted by black gen on Tue, 2011-08-02 11:01
not even close to fishing related but i saw this on the today show yesterday and had a look...
the numbers are just ridiculous....and im by no means a numbers person...
have a quick look..
bring on the AUS dollar at 1.50US
flangies
Posts: 2542
Date Joined: 11/05/08
Debt doesn't mean anything on
Debt doesn't mean anything on a national level. It could be 3x that amount. UK isn't far behind either.
Ollie
Posts: 506
Date Joined: 24/08/07
Not sure if you mean
Not sure if you mean international level but it will mean a lot if they lose the reserve currency. The US and UK are not in a good place and they haven't been for a long time.
glastronomic
Posts: 892
Date Joined: 16/02/11
Yesterday's West Australian
Yesterday's West Australian had a enlightning article on the types of debt that makes up the overall USA government debt.
America is still in a very good position as most US debt is to them self, only a very small % of the overall debt is to the outside world so to speak according to this article.
UK and the Euro PIGS are on a very different footing and do owe more than they can chew off.
We here are going the same way with the current government spending up very big funded by oversees borrowings.
This always end up in hardship and tears for the taxpayers.
hlokk
Posts: 4290
Date Joined: 04/04/08
Just clarifying (rather than
Just clarifying (rather than disagreeing/arguing):
The US external debt is 14.3 Trillion dollars (2010 figure). This happens to be about the same number as the current US public debt, which does make it a bit confusing. External debt includes both public (government) and private (people/corportations) debt.
US public debt (as listed in the link above) is also about 14.3 Trillion dollars (14.77 Trillion as of June 2011), of which about 1/3rd-ish is external debt, so about 4.5 Trillion (i.e. Money the US government owes externally. It owes twice as much internally).
For total debt, the US is worse off in total, per person and per GDP than the EU. Though thats total, not public (i.e. government). I'm sure the EU figures are somewhere though.
Australia has about the same total external debt per person as the US interestingly enough but US public debt is about 100% of GDP while in Australia its 22%.
Lamby
Posts: 3145
Date Joined: 04/08/09
I would question that article
I would question that article personally, I haven't read it so I will accept the flaming if I interpret your post wrong Glastro. Japan owns the majority of US debt & that is why they couldn't afford for them to go under & have been bailing them out for the past few years. Roll forward to Earthquake & Tsunami, guess what Japan is screwed & so is US of A
hlokk
Posts: 4290
Date Joined: 04/04/08
Details of who owns what is
Details of who owns what is here: http://globalpublicsquare.blogs.cnn.com/2011/07/21/who-owns-america-hint-its-not-china/
(its a 2011 article, but not sure if figures are for now or end of last financial year).
UncutTriggerInWA
Posts: 2692
Date Joined: 05/09/08
It's about politics
It's coming up to an election and the Republicans are doing what our Greens and independants are doing here and that is holding the government to ransom. Raising the debt ceiling is, in general for the US, a formality and every government in the history has raised the ceiling on several occasions. I wish I could log on and increase my working capitol.
I feel for the soldiers at war and the millions receiving social security benefits. They are the ones who are at risk. Imagine an email "sorry, we can't pay you this month - maybe next month".
Vince.
Work smart and fish often.
Member and die-hard supporter of the mighty West Coast Eagles.
tailor marc
Posts: 2979
Date Joined: 27/09/06
Check this out. Gives you
Check this out. Gives you some idea.... http://usdebt.kleptocracy.us/
My photography pictures... http://westernhorizonsmedia.wordpress.com/
crasny1
Posts: 7003
Date Joined: 16/10/08
Ill settle for just the little stack
Then plenty of Stella, Tiagras, but cant afford a Hatteras game boat. Maybe 2 or 3 little stacks!!!!
"I would like to die on Mars. Just not on impact!!" _ Elon Musk