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#2 Interestingly Japan has the highest level of public debt (as a %age of GDP) in the world (excluding a couple of places like Zimbobwe). Japanese debt is 3 times the USA's level. Germany's debt is not much lower the USA's.
But we are going to see an explosion of government debt and in all likelyhood countries going bankrupt.
Posted by phil_b 2008-11-17 01:22||
#3 Not being able to afford a gov't bond sourced stimulous package? How very insightful and conservative of the Germans.
Posted by Besoeker 2008-11-17 06:41||
#4 Watch Iceland for the preview.
Posted by Nimble Spemble 2008-11-17 07:07||
#5 Too bad the US is no longer a world player, or we could have bought some of those bonds from the germs.
Posted by bigjim-ky 2008-11-17 08:30||
#6 The government's own subprime paper. Betting on the chicken's chicken's chicken's hatchlings showing up. We've checked your income statements and projected what you can be expected to produce in 10 years, and the numbers aren't matching there old boy.
Posted by Procopius2k 2008-11-17 09:33||
#7 This one of those rare "Oh shit!" moments.
And in it, the Republicans have their issue for the next election provided Bambi doesn't do the unexpected and lower spending.
Posted by Mike N. 2008-11-17 10:57||
#8 The Big O has made a lot of industrial strength promises to people that he cannot keep, w/r/t govt money giveaways. If he cannot deliver, he will alienate his base. Damned if you do, and damned if you don't. He has not even taken office yet and he is pre-screwed.
When painting the floor, always first look for the door.
Posted by Alaska Paul 2008-11-17 11:39||
#9 "He has not even taken office yet and he is pre-screwed."
#14 A quick calculation is government debt (all developed countries) will increase by 15% to 20% of GDP over the next 12 to 16 months ex 'economic stimulus', due to falling revenues and increasing welfare, etc. payments. With economic stimulus, bailouts etc, probably north of 25% of GDP. Those are big numbers.
Posted by phil_b 2008-11-17 17:30||
#15 What do I need to do to qualify for a bail out.
I'm not ashamed to take billions!
Posted by 3dc 2008-11-17 17:46||