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[Varche]

http://www.nationaldebtclocks.org/

Found this. Makes sober viewing.

I had a look at Spain (for obvious reasons) then France, UK, US, Italy and Germany. Grim especially as the debt is increasing by the second

[mantahatch]

Yes indeed very interesting. Especially as it says germany is in a worse position than the UK. I always thought the germans where nowhere near as efficent as claimed by some.

[cam2502]

How will it ever change? A friend of mine keeps banging on about the Venus project . Can't see that method working unless we somehow go back to the stone age.

[Sir Tigger KC]

Actually I thought that the UK's position was worse and that the National Debt was around 90% of GDP! 

[ozzycat]

 bloody hell and i was panicking over my £100 overdraft

[Lizzie_Zoom]

In the end though the figures are so high they become almost meaningless to us mere mortals

If it was your personal debt you would not be able to sleep at night, but imagine having  the USA's overdraft; $16 trillion!  What is worse it is mostly owed to the Chinese, the communists the Americans have fought wars over!

[Sir Tigger KC]

In the end though the figures are so high they become almost meaningless to us mere mortals

If it was your personal debt you would not be able to sleep at night, but imagine having  the USA's overdraft; $16 trillion! What is worse it is mostly owed to the Chinese, the communists the Americans have fought wars over!

As part of the 'Fiscal Cliff' negotiations they're probably going to raise their own credit limit... Again!! 

[tigers_gonads]

In the end though the figures are so high they become almost meaningless to us mere mortals

If it was your personal debt you would not be able to sleep at night, but imagine having  the USA's overdraft; $16 trillion!  What is worse it is mostly owed to the Chinese, the communists the Americans have fought wars over!

And that could be one hell of a problem 

With the rate of growth dropping in china and the new chinese middle class enjoying the fruits of there new found wealth, how are these people going to react when they realise that they can't afford that new jag or rolls royce because there is nobody to sell there goods too ?
The first thing they are going to do when they open the purse and see its empty is to sit down and ask the question ................ Now who owes us money ?


Not forgetting the working class.
Years ago, these people were happy living in what we would call povity.
Nowdays, they have money.
You can bet your life that they will not be happy when they have no work because said factorys are closeing because they can't sell there goods.
These lot are not going to go back to the paddy fields of old.

As for wars, the Chinese armed forces are moderniseing at a incredible rate and are starting to flex there muscle's in a big way in the South China Sea.

The aussies are starting to get worried to the point that they have just gave the yanks permition to build a massive miitary base on its north coast for its fleet.

[cleggy]

I don't get it ... Who is it owed to and it will never be paid back

I like the way on the opening page the advert is for a loan 

[Johnny English]

Shocking. Our debt is growing 150 000 HUF in every 3 seconds that is my full month salary.   

[wakeyomega]

So......

If the world is in debt by $51,031,054,794,808 (at the last count). Which planet do we owe it to?

[STMO123]

When a country defaults, it is frowned upon by the rest of the world. But if every country defaulted, together, at the same time........

Sorted

[Rods2]

It is interesting that every country that has done well during the current depression has one thing in common: Their GDP to debt ratio is under 40%.

High taxes and prolifically spending Governments kill economic growth where high taxes reduce entrepreneurial activity and investment where it increases risk and reduces incentives to invest.

Under the last Government the private sector was badly squeezed, so the UK economy urgently needs to be re-balanced, with Government spending and tax cuts, without this the best we can hope for is stagflation. Private sector investment generally allocates capital much more efficiently where it is demand led. When money is spent in the private sector compared to the public sector it produces growth where the velocity of the money is much higher in the private sector.