I've always been amazed(and worried, because of its implications on US debt capacity) how Japan has been able to "hold it together" for so long with such a huge debt to GDP ratio.
Sure, they've got a lot of suicide & other problems....but it's amazing that their currency still functions and their economy somehow still limps along.
This is only Federal debt. Have to look at total credit market borrowings for total picture. US has $58T in credit market debt according to the Federal Reserve's Z1 flow of funds report.
I've always been amazed(and worried, because of its implications on US debt capacity) how Japan has been able to "hold it together" for so long with such a huge debt to GDP ratio.
ReplyDeleteSure, they've got a lot of suicide & other problems....but it's amazing that their currency still functions and their economy somehow still limps along.
We'd be on that list except for a little accounting gimmickry and a few other things we don't count- like the SS/medicare deficit each year.
ReplyDeleteThese countries owe more than the US?
ReplyDeleteThis is only Federal debt.
ReplyDeleteHave to look at total credit market borrowings for total picture.
US has $58T in credit market debt according to the Federal Reserve's Z1 flow of funds report.