Comments on: GDP vs National Debt by Country

By: bluuplanet

bluuplanet — Fri, 12 Mar 2010 13:59:10 +0000

How did you come up with the idea that 40-60% is good? Are you just listening to our government's economists who say the recession is over and figuring “sounds good to me!” 40-60% is horrible!! We can never pay this off and we are probably past a tipping point and headed into hyper-inflation.

By: bluuplanet

bluuplanet — Fri, 12 Mar 2010 13:55:12 +0000

Yes, China is stepping back. Did you know that the Cash-for-Klunkers program wasn't thought up by our own government? It was the brain-child of the Chinese embassy. They didn't want us to pay them in dollars and wanted scrap steel instead. They thought this up so we could send them the steel scrap from our used but still running cars. …and now we're all deeper in debt.

By: bluuplanet

bluuplanet — Fri, 12 Mar 2010 13:47:50 +0000

Reply to James about China:
Yes, China is still officially Communist, but they are waking up. They are fast becoming capitalists. Jim Rogers says in the 19th century, they place to invest because it was the economic center of the world was the British Empire. In the 20th century, it was the U.S.A. and in the 21st century, it will be China. They are growing by leaps and bounds.

By: rick alan

rick alan — Wed, 10 Mar 2010 22:45:39 +0000

That is the federal debt level only. The higher rate also includes the provinces. Ontario for example is over 100 billion alone while Alberta has no debt and there are 8 more provinces and three territories with debt levels.

By: Rick Alan

Rick Alan — Wed, 10 Mar 2010 22:42:23 +0000

the UK's national debt is not 42.2 trillion. Who writes this stuff?

By: Rick Alan

Rick Alan — Wed, 10 Mar 2010 22:39:55 +0000

There are a lot of socialist countries that have a much lower rate than Italy and a much higher standard of living. Italy has had more changes in government since WW2 and more corrupt and incompetent goverments than any other western industrialized country. Also the level of organised crime such as the mafia and cosa nostra account for about 7% of Italys GDP which is a hugh drain on the economy and a higher cost for services such as policing. You sound like a typical ill informed yank.

By: noimnot

noimnot — Wed, 10 Mar 2010 07:52:14 +0000

Then why is Russia's debt so low?

By: JST

JST — Sun, 07 Mar 2010 07:34:34 +0000

The U.S. national debt is over $12 trillion dollars, according to the U.S. National Debt Clock (www.usdebtclock.org). Which means, as a percentage of GDP, it's more like 90%.

BTW, Canada's federal debt is less than $500 billion U.S. dollars, not $814 billion. If you are including provincial and municipal debt in Canada's 'national debt', then maybe it is that high. But then, you should include state and municipal debt for the U.S. and other countries, which you obviously haven't. So you are comparing apples and oranges.

By: Wess

Wess — Fri, 05 Mar 2010 09:00:03 +0000

It's a % of the total GDP.
Considering Canada's GDP is lower than that of the US, the graph is correct. Check http://en.wikipedia.org/wiki/List_of_countries_...) – the table under “CIA – World Factbook”. Wiki, mate. It's useful.

By: James

James — Fri, 05 Mar 2010 07:15:00 +0000

Nonsense. Chine is more than socialist – they are Communist, and their debt is very low. I live in Canada, we are very socialist, and our debt is the same as the US. Get real.