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2011 Nov 8, 10:13am
External debt by country, by per-capita:
Greece $532,900,000,000 / $47,636 per capita
United States $14,825,308,000,000 / $47,568
Netherlands $371,028,000,000 / $47,172
Spain $2,570,294,000,000 / $47,069
Portugal $497,800,000,000 / $46,795
Italy $2,684,477,000,000 / $36,841
Japan $2,719,004,000,000 / $19,148
Ireland $115,000,000,000 / $18,592
It's not the 1% that owes those trillions, it's the 99%, LOL.
Poor Greece, getting shit on but their per capita external debt is only $70 more than ours.
How do you crash something that isn't even moving?
Bill -- Last I checked, Greece lacked the ability to repay its debts in currency that it has the power to manipulate. Eurozone debt is not that different from gold debt that crippled economies in the 1930s.
Vicente
2011 Nov 9, 2:19pm
Yes, take a look at Iceland. Which let it's 3 biggest banks FAIL and 3 years later is starting to see daylight. Struggling to keep insolvent banks afloat is like swimming with an anchor, why would you want to do that?
I think when your only export is batshit crazy musicians you can recover more quickly.
What does everyone think about the PIIGS (Portugal, Ireland, Iceland, Greece, and Spain)? Will they default and cause another 2008 style crisis? If that does occur, there is no doubt that it will be much worse.