Total debt 1000% of GDP

[turkeyneck]

Guess Which Country Has Debt Of Nearly 1000% Of GDP?

http://www.businessinsider.com/g10-countries-by-total-debt-to-gdp-2011-12

 

[sheda]

This chart is looking at all kinds of debt, not just sovereign debt. The UK's staggering debt-to-GDP ratio is largely due to the size of its financial sector.

All financial sector debt is, to some extent, potentially government debt, since all governments end up having to rescue their financial sectors in the event of a crisis. That's what brought down Iceland and Ireland.

Do we include all the foreign financial entity's operating in the uk, is there debt also, potentially, the governments? I don't really buy this, sounds like something max keiser would say

 

[morganist]

Quote from sheda:

Do we include all the foreign financial entity's operating in the uk, is there debt also, potentially, the governments? I don't really buy this, sounds like something max keiser would say

Unfortunately it is true or near enough.

 

[sheda]

Do we have a serious break down of the British financial institutions, the amounts involved and evidence of the UK governments responsibility to step in and sort those debts out should things go wrong?

I could add up all the debt of corporations registered in the cayman islands and paint a bad picture using the same line of thinking etc.

 

[morganist]

Quote from sheda:

Do we have a serious break down of the British financial institutions, the amounts involved and evidence of the UK governments responsibility to step in and sort those debts out should things go wrong?

I could add up all the debt of corporations registered in the cayman islands and paint a bad picture using the same line of thinking etc.

The best place to look is the IEA (Insititute of Economic Affairs) and The Taxpayers Alliance.

Admittable it is more like 500% of GDP although that was not inclusive of company debt, which I think is high because of the tax shield.

 

[piezoe]

I thought that kind of chart died when the old Soviet Union died.