Are the rich nations really rich?
Couple of days ago, I came across a presentation in CNBC website on the worlds most inbebted nations. The summary statistics is as follows:
15. United States
External debt (as % of GDP): 95.09%
External debt per capita: $44,358
Gross external debt: $13.627 trillion (2008 Q3)
2008 GDP: $14.330 trillion
14. Norway :
External debt (as % of GDP): 114%
External debt per capita: $118,353
Gross external debt: $551.59 billion
2008 GDP: $481.1 billion
13. Finland :
External debt (as % of GDP): 116%
External debt per capita: $62,579
Gross external debt: $328.56 billion (Q4 2008)
2008 GDP: $281.2 billion
12. Sweden :
External debt (as % of GDP): 129%
External debt per capita: $73,245
Gross external debt: $663.58 billion (Q4 2008)*
*Data from Riksbank
T-10. Spain:
External debt (as % of GDP): 137.5%
External debt per capita: $57,091
Gross external debt: $2.313 trillion (Q4 2008)
2008 GDP: $1.683 trillion
T-10. Spain:
External debt (as % of GDP): 137.5%
External debt per capita: $57,091
Gross external debt: $2.313 trillion (Q4 2008)
2008 GDP: $1.683 trillion
9. Denmark:
External debt (as % of GDP): 159%
External debt per capita: $107,026
Gross external debt: $588.7 billion (Q3 2008)
2008 GDP: $369.6 billion
8. France:
External debt (as % of GDP): 168%
External debt per capita: $78,070
Gross external debt: $5.001 trillion
2008 GDP: $2.978 trillion
7. Austria
External debt (as % of GDP): 191%
External debt per capita: $100,787
Gross external debt: $827.49 billion (Q4 2008)
2008 GDP: $432.4 billion
6. Switzerland:
External debt (as % of GDP): 264%
External debt per capita: $171,478
Gross external debt: $1.304 trillion (Q4 2008)
2008 GDP: $492.6 billion
5. Netherlands
External debt (as % of GDP): 268%
External debt per capita: $145,959
Gross external debt: $2.439 trillion (Q4 2008)
2008 GDP: $909.5 billion
4. Hong Kong
External debt (as % of GDP): 295%
External debt per capita: $93,539
Gross external debt: $659.93 billion (Q4 2008)
2008 GDP: $223.8 billion
3. Belgium
External Debt (as % of GDP): 327%
External debt per capita: $155,362
Gross External Debt: $1.618 trillion (Q4 2008)
2008 GDP: $495.4 billion
2. United Kingdom
External debt (as % of GDP): 336%
External debt per capita: $153,616
Gross external debt: $9.388 trillion (Q4 2008)
2008 GDP: $2.787 trillion
1. Ireland
External debt (as % of GDP): 811%
External debt per capita: $549,819
Gross external debt: $2.311 trillion (Q4 2008)
2008 GDP: $285 billion
I used to wonder how the U.S would come out of its huge debt. The above statistics changed that perception. U.S has a huge debt but the greater risk is in Europe.
My worry now is all these 'spending maniacs' need cash badly. Dear Indians & Chinese please safe guard your valuble savings, from ending up as 'investments' of these countries.
Couple of days ago, I came across a presentation in CNBC website on the worlds most inbebted nations. The summary statistics is as follows:
15. United States
External debt (as % of GDP): 95.09%
External debt per capita: $44,358
Gross external debt: $13.627 trillion (2008 Q3)
2008 GDP: $14.330 trillion
14. Norway :
External debt (as % of GDP): 114%
External debt per capita: $118,353
Gross external debt: $551.59 billion
2008 GDP: $481.1 billion
13. Finland :
External debt (as % of GDP): 116%
External debt per capita: $62,579
Gross external debt: $328.56 billion (Q4 2008)
2008 GDP: $281.2 billion
12. Sweden :
External debt (as % of GDP): 129%
External debt per capita: $73,245
Gross external debt: $663.58 billion (Q4 2008)*
*Data from Riksbank
T-10. Spain:
External debt (as % of GDP): 137.5%
External debt per capita: $57,091
Gross external debt: $2.313 trillion (Q4 2008)
2008 GDP: $1.683 trillion
T-10. Spain:
External debt (as % of GDP): 137.5%
External debt per capita: $57,091
Gross external debt: $2.313 trillion (Q4 2008)
2008 GDP: $1.683 trillion
9. Denmark:
External debt (as % of GDP): 159%
External debt per capita: $107,026
Gross external debt: $588.7 billion (Q3 2008)
2008 GDP: $369.6 billion
8. France:
External debt (as % of GDP): 168%
External debt per capita: $78,070
Gross external debt: $5.001 trillion
2008 GDP: $2.978 trillion
7. Austria
External debt (as % of GDP): 191%
External debt per capita: $100,787
Gross external debt: $827.49 billion (Q4 2008)
2008 GDP: $432.4 billion
6. Switzerland:
External debt (as % of GDP): 264%
External debt per capita: $171,478
Gross external debt: $1.304 trillion (Q4 2008)
2008 GDP: $492.6 billion
5. Netherlands
External debt (as % of GDP): 268%
External debt per capita: $145,959
Gross external debt: $2.439 trillion (Q4 2008)
2008 GDP: $909.5 billion
4. Hong Kong
External debt (as % of GDP): 295%
External debt per capita: $93,539
Gross external debt: $659.93 billion (Q4 2008)
2008 GDP: $223.8 billion
3. Belgium
External Debt (as % of GDP): 327%
External debt per capita: $155,362
Gross External Debt: $1.618 trillion (Q4 2008)
2008 GDP: $495.4 billion
2. United Kingdom
External debt (as % of GDP): 336%
External debt per capita: $153,616
Gross external debt: $9.388 trillion (Q4 2008)
2008 GDP: $2.787 trillion
1. Ireland
External debt (as % of GDP): 811%
External debt per capita: $549,819
Gross external debt: $2.311 trillion (Q4 2008)
2008 GDP: $285 billion
I used to wonder how the U.S would come out of its huge debt. The above statistics changed that perception. U.S has a huge debt but the greater risk is in Europe.
My worry now is all these 'spending maniacs' need cash badly. Dear Indians & Chinese please safe guard your valuble savings, from ending up as 'investments' of these countries.
