{"id":10224,"date":"2015-07-20T06:50:50","date_gmt":"2015-07-20T11:50:50","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10224"},"modified":"2015-07-20T06:50:50","modified_gmt":"2015-07-20T11:50:50","slug":"debt-crisis-central-lets-not-forget-about-america","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10224","title":{"rendered":"Debt Crisis Central: Let\u2019s Not Forget About America"},"content":{"rendered":"

Debt Crisis Central: Let\u2019s Not Forget About America<\/a><\/h3>\n

\"burning<\/p>\n

As the situation in\u00a0Puerto Rico<\/a>\u00a0has recently revealed, Greece\u00a0is not alone<\/em>. The world is filled with debt laden nations, many of which may never be able to pay down their liabilities. All told, the world is\u00a0$200 trillion in debt<\/a>, of which $57 trillion was accumulated in the past 8 years. And for the record, all the wealth in the world, including assets, amounts to $241 trillion (as of 2013<\/a>). It\u2019s safe to say that the human race is on one massive debt bender, and there won\u2019t be any easy way out.<\/p>\n

As for which countries are worse off than others, a recent article from\u00a0The Guardian<\/a>\u00a0happens to reveal which of the world\u2019s nations are on the fast track to a debt crisis. As I read it however, there was a country that was suspiciously missing from the list. Can you spot this missing debt junky? (hint: it\u2019s America. The answer is always America.)<\/p>\n

New analysis by the Jubilee Debt Campaign<\/a>\u00a0reveals that Greece\u2019s plight is far from unique: more than 20 other countries are also wrestling with their own debt crises. Many more, from Senegal to Laos, lie in a debt danger zone, where an economic downturn or a sudden jump in interest rates on world debt markets could lead to disaster\u2026<\/p>\n

\u2026Jubilee\u2019s analysis defines countries as at high risk of a government debt crisis if they have net debt higher than 30% of GDP, a current-account deficit of over 5% of GDP and future debt repayments worth more than 10% of government revenue. \u201cWe estimate that 14 countries are rapidly heading towards new government debt crises, based on their large external debts, large and persistent current account deficits, and high projected future government debt payments,\u201d it says\u2026<\/p><\/blockquote>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Debt Crisis Central: Let\u2019s Not Forget About America As the situation in\u00a0Puerto Rico\u00a0has recently revealed, Greece\u00a0is not alone. The world is filled with debt laden nations, many of which may never be able to pay down their liabilities. All told, the world is\u00a0$200 trillion in debt, of which $57 trillion was accumulated in the past […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5769,195,7408,200,353,1167,2217,3824],"class_list":["post-10224","post","type-post","status-publish","format-standard","hentry","category-economics","tag-daily-sheeple","tag-debt","tag-debt-jubiliee","tag-default","tag-gdp","tag-greece","tag-liabilities","tag-puerto-rico"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10224"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10224\/revisions"}],"predecessor-version":[{"id":10225,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10224\/revisions\/10225"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}