Time for Debt thinking’s over Coffee on a wonderful Thursday in Russia…

It is a thinking time while sipping that wonderful cup of coffee or chicory in my case…

CNBC on 20 Sept 2011 had a report about “The World’s Biggest Debtor Nations!” This was not so very long ago and I found this interesting and compiled the facts and ignored the pictures and 22 different pages that they spread it out on. I find it better in life to be able to comprehend stuff if we don’t try to get all fancy and such…

Lets start with number twenty on the list and work our way to the grand number one spot. I think that you will be shocked but not surprised at the numbers. I know that this is a small part of the real debt but there is something here that is beyond just money and debt. While debt is the crux of it all, when you are done looking at the list you tell me what all these countries have in common?

20. United States – 101.1%

External debt (as % of GDP): 101.1%

Gross external debt: $14.825 trillion
2009 GDP (est): $14.66 trillion

External debt per capita: $48,258
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19. Hungary – 120.1%

External debt (as % of GDP): 120.1%

Gross external debt: $225.24 billion
2009 GDP (est): $187.6 billion

External debt per capita: $22,739
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18. Australia – 138.9%

External debt (as % of GDP): 138.9%

Gross external debt: $1.23 trillion
2010 GDP (est): $882.4 billion

External debt per capita: $57,641
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17. Italy – 146.6%

External debt (as % of GDP): 146.6%

Gross external debt: $2.602 trillion
2010 GDP (est): $1.77 trillion

External debt per capita: $44,760
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16. Spain – 179.4%

External debt (as % of GDP): 179.4%

Gross external debt: $2.46 trillion
2010 GDP (est): $1.37 trillion

External debt per capita: $60,614
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15. Greece – 182.2%

External debt (as % of GDP): 182.2%

Gross external debt: $579.7 billion
2010 GDP (est): $318.1 billion

External debt per capita: $53,984
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14. Germany – 185.1%

External debt (as % of GDP): 185.1%

Gross external debt: $5.44 trillion
2010 GDP (est): $2.94 trillion

External debt per capita: $51,572

2010 Country NIIP (Net International Investment Position) statistics by the IMF. NIIP is defined by a country’s total domestically owned assets minus its foreign owned assets. All figures have been adjusted to nominal US dollars…

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13. Portugal – 223.6%

External debt (as % of GDP): 223.6%

Gross external debt: $552.23 billion
2010 GDP (est): $247 billion

External debt per capita: $51,572
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12. France – 250%

External debt (as % of GDP): 250%

Gross external debt: $5.37 trillion
2010 GDP (est): $2.15 trillion

External debt per capita: $83,781
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11. Hong Kong – 250.4%

External debt (as % of GDP): 250.4%

Gross external debt: $815.65 billion
2010 GDP (est): $325.8 billion

External debt per capita: $115,612
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10. Norway – 251%

External debt (as % of GDP): 251%

Gross external debt: $640.7 billion
2010 GDP (est): $255.3 billion

External debt per capita: $137,476
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9. Austria – 261.1%

External debt (as % of GDP): 261.1%

Gross external debt: $867.14 billion
2010 GDP (est): $332 billion

External debt per capita: $105,616
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8. Finland – 271.5%

External debt (as % of GDP): 271.5%

Gross external debt: $505.06 billion
2010 GDP (est): $186 billion

External debt per capita: $96,197
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7. Sweden – 282.2%

External debt (as % of GDP): 282.2%

Gross external debt: $1.001 trillion
2010 GDP (est): $354.7 billion

External debt per capita: $110,479
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6. Denmark – 310.4%

External debt (as % of GDP): 310.4%

Gross external debt: $626.1 billion
2010 GDP (est): $201.7 billion

External debt per capita: $113,826
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5. Belgium – 335.9%

External debt (as % of GDP): 335.9%

Gross external debt: $1.324 trillion
2010 GDP (est): $394.3 billion

External debt per capita: $127,197
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4. Netherlands – 376.3%

External debt (as % of GDP): 376.3%

Gross external debt: $2.55 trillion
2010 GDP (est): $676.9 billion

External debt per capita: $152,380
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3. Switzerland – 401.9%

External debt (as % of GDP): 401.9%

Gross external debt: $1.304 trillion
2010 GDP (est): $324.5 billion

External debt per capita: $171,528
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2. United Kingdom – 413.3%

External debt (as % of GDP): 413.3%

Gross external debt: $8.981 trillion
2010 GDP (est): $2.173 trillion

External debt per capita: $146,953
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1. Ireland – 1,382%

External debt (as % of GDP): 1,382%

Gross external debt: $2.38 trillion
2010 GDP (est): $172.3 billion

External debt per capita: $566,756…

Now that is amazing and I think you see it now! These are all self proclaimed Western countries that have spent beyond their means like a shopaholic with an unlimited credit card…

Where are the Eastern countries in the top 20? China, Russia, Brazil etc etc etc…

Remember this is debt ratio so that has nothing to do with who is rich or not, it has to do with who spends more money than they bring in…

Want something really pathetic about all this? These countries are still piling on the debt and not showing a sign of slowing down. Why is that?

So where is Russia and China in all this mess? Russia and China are considered a creditor nation, that much I understand…

Okay – done thinking today and that made my head hurt with numbers beyond imagination… :)

Kyle Keeton
Windows to Russia!


kKEETON @ Windows to Russia…

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