Debt Levels Around the World

[Pulsar]

How many zeroes in $200 trillion after converting it to Indian Rs???

 

[edwardsnowden]

Elements of the Recovering Eurozone Meme

The recovering Eurozone meme, which details improvements in the Eurocrisis and draws a hypothesis that the worst is over, has been around for about two months. The first article I noticed fitting the meme was published on November 16. Since then, these articles have abounded in the mainstream media.

Five elements comprise the meme, though each may not be present in every article:

• Positive market moves
• Improving economic fundamentals omitting amplitudes
• Anecdotes from financial industry professionals
• Giving short shrift to the data that matters
• An outside actor that ensures that this time will be different

The objective of the mainstream media is to generate interest in its content so that it can profit from it. People prefer news that supports their worldview. Financial news outlets cater to investors who wish to believe that economic conditions will increase the value of their investments. Rather than unbiased facts, we receive articles that conform to a certain narrative.

[...]

Elements of the Recovering Eurozone Meme | DARECONOMICS

 

[edwardsnowden]

WHERE’S THERE A CRASH? WORLD ECONOMY COLLAPSING!!!

– HEADLINES SEPT-OCT, 3 2013


WORLD WIDE UNEMPLOYMENT
- Merck cuts another 8,500 jobs
- Siemens to cut 15,000 jobs
- German jobless rate unexpectedly higher
- Italy: Youth Unemployment Above 40%!
- Belgian unemployment increased again in August – 9%
- Wells Fargo Cutting 1,800 More Jobs in Mortgage Business

EUROPE
- European Car Sales In 2013 Drop To “Record”, 23-Year Low
- Europe To Change “Deficit Calculation” To Make Economy Appear Stronger
- Euro-Zone Factory Growth Slows
- ECB Says Private Sector Loans Fell for a 16th Month

- German retail sales disappoint in August
- Goldman Slams Deutsche Bank Next, Expects “Severe Revenue/Profit Pressure”
- German Power Prices Surge to Near Seven-Month High on Fuel Costs

- Dutch Car Sales Fall 30% YoY
- Dutch Forced Home Sales Rose 34%!
- Dutch Existing Home Prices Declined 4.4% In August YoY
- Belgium: Never before So Many Companies Went Bust In One Month
- Swedish GDP Shrank 0.2% – More Than First Estimated In Last Quarter
- Croatia Credit Rating Cut to Junk by Fitch on Budget Deficit

- French industrial output drops unexpectedly

- Spain’s jobless claims rise in September
- Spain’s Retail Sales Fall 4.2%, 38 Consecutive Negative Months
- Spanish Bad Loans Surge To New Record High

- Italy Banks Face Capital Risk Amid Low Profit, IMF Says
- Italy’s economy contracts more than estimated
- Italian Housing Market Faces Ongoing Collapse

- U.K. Retail Sales Unexpectedly Fall as Food Plunges


NO recovery whatsoever!!

 

[edwardsnowden]

2013.10.18

For every man, woman, and child in America, the country's debt load amounts to over $50,000 each. As Bloomberg BusinessWeek notes, the national debt has not always been the hot-button issue it is today. In the Kennedy, Johnson, Nixon, and Carter administrations, inflation-adjusted debt per capita dropped. Let's revisit this chart after 3 more years of hope-and-change, when total US debt is over $20 trillion.

and while this is surging (and clearly unsustainable), compared to much of Europe, it remains low...

Via ZeroHedge


P.S. Jimmy Carter is the last honest president of the USA! As underscored by his behavior after leaving office, vis-a-vis the rest of the executive liars.


~~~~~~~~~~~~~~

Furthermore, while saying the federal deficit does indeed need to be curtailed, Mr. Bloomberg argued the United States could owe “an infinite amount of money” and there is no specific amount that would cause the country to default.

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.” ~ Mayor Michael Bloomberg (2013), also the founder and owner of Bloomberg L.P., the financial service company.

 

[Cyberian]

How does the United States keep getting away with just printing more money? And, its currency doesn't even devalue in the process?

 

[edwardsnowden]

How does the United States keep getting away with just printing more money? And, its currency doesn't even devalue in the process?

Just few thoughts:

- For sure the newly created money does not go to the lending market domestically, it is not being lent out to the domestic biz in general.

- The newly created money mostly goes to stock market to prop up the Dow Jones index. How on earth the index remains high when the most corporations are in fact showing worsening sales and P/L conditions?

And look at those giant IPOs on the dubious tech companies such as Facebook, and coming Twitter. Just expect some more gigantic IPOs from those paper giants with obscure revenue models.

- This newly money also props up the housing sectors to keep them afloat.

- The dollar notes mostly go to overseas to bear its function as the World Reserve Currency (WRC) to settle the global trade transactions... it will cause its own part of the problems when "the chickens are coming home to roost"

- Look at the other major currencies as the currently possible contenders: EUR, JPY, GBP. All are not in the better shape. In addition how can the smaller economies do challenge the WRC status? It leaves out the options to a basket of currencies or the other big economy, China, yet China is still building up its resources, it won't rush until its moment really comes. Holding so much in USD, China won't tarnish the dollar value until it successfully converts the most into other kinds of assets with more tangible worthiness (i.e. physical ones).

Fed also creates some illusion of dollar scarcity to prop up its value, search and read further "Fed create illusion dollar scarcity"


Well, it is not a question of if but when the time is ripe for the total transition away from the WRC status.


~~~~~~~~~~~~

It works until it does not!

In Ernest Hemingway’s "The Sun Also Rises," one of the main characters is asked how he went bankrupt.
"Two ways," he responds. "Gradually and then suddenly."