Those darn socialist countries....

Submitted by Doug on 26 February, 2008 - 11:51.

just spend, spend, spend...

These are the ranking of account balances from the CIA factbook on national wealth. Remembering back to Principles of Accounting 101, when the numbers have a negative sign in front of them it's a "bad" thing

https://www.cia.gov/library/publications/the-world-factbook/rankorder/21...

105 Mozambique $ -726,000,000 -2007 est.

106 Cuba $ -750,000,000 -2007 est.

107 Burkina Faso $ -752,000,000 -2007 est

108 Nicaragua $ -754,000,000 -2007 est.

109 Panama $ -861,000,000 -2007 est.

110 Albania $ -918,000,000 -2007 est.

111 El Salvador $ -929,000,000 -2007 est.

then way, way down, at the bottom,

"157 Turkey $ -36,270,000,000 -2007 est.

158 Greece $ -36,400,000,000 -2007 est.

159 Australia $ -50,960,000,000 -2007 est.

160 Italy $ -57,940,000,000 -2007 est.

161 United Kingdom $ -111,000,000,000 -2007 est.

162 Spain $ -126,300,000,000 -2007 est.

163 United States $ -747,100,000,000 -2007 est.,"

as of 09:30 26/02/2008 US population was estimated at U.S. 303,515,052 debt ratio 21.6149 to 1

Nicaragua population estimate from mid 2007- 5,600,000 debt ratio 13.4642 to 1

Hmmmmm, food for thought, for the few who pay attention and/or care

-Doug

If you're not part of the solution, you're part of the precipitate

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fascinating, but 'bad'? ... no

Submitted by Daddy-YO on 28 February, 2008 - 12:34.

Debt: borrowing to build now for a stronger future. Who loans the USA so much? The Chinese. Thanks fellows. They clearly believe in America's future.

Nicaragua would borrow more if they could. Lenders know the risks are higher.

Every coin has two sides.

Chinese? Sorta.

Submitted by fyl on 28 February, 2008 - 15:36.

Until very recently I was telling people that the Chinese seemed to believe the US could pay its debts or at least that the Chinese couldn't do something to cause the dollar to drop because they owned so many. Well, I was recently corrected by someone who knows a more about "money games" than I do.

It turns out that the Chinese have contracted with vendors to buy things in the future with those dollars. That is, prices already agreed upon. Thus, while you think the Chinese could get screwed, it is really those who signed the contracts with the Chinese.

That may be so, however,

Submitted by dirtbag on 2 March, 2008 - 08:33.

Lets not forget the Irony of how many U.S. Companies have invested in China.

It should be easy for US to

Submitted by wmac on 1 March, 2008 - 22:02.

It should be easy for US to recover from debts.

There is almost $8-10 trillion USD in use. If you bring down the value (exchange rate to Euro for example) 30% down, it will be $2.5-3 trillion.

This amount is enough to cover the cost of the war with Iraq and Afghanistan. Who pays the bill? Simple. Those who own dollar in their pockets.