{"id":27402,"date":"2017-10-29T09:59:13","date_gmt":"2017-10-29T14:59:13","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27402"},"modified":"2017-10-29T09:59:13","modified_gmt":"2017-10-29T14:59:13","slug":"visualizing-63-trillion-of-world-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27402","title":{"rendered":"Visualizing $63 Trillion Of World Debt"},"content":{"rendered":"

Visualizing $63 Trillion Of World Debt<\/a><\/h3>\n
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If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion.<\/strong><\/p>\n

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Courtesy of: Visual Capitalist<\/a><\/em><\/p>\n

In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, as Visual Capitalist’s Jeff Desjardins notes,<\/a> around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy for countries or the global economy as a whole.<\/strong><\/p>\n

The U.S. is a prime example of \u201cdebt creep\u201d <\/strong>\u2013 the country hasn\u2019t posted an annual budget surplus since 2001, when the federal debt was only $6.9 trillion (54% of GDP). Fast forward to today, and the debt has ballooned to roughly $20 trillion (107% of GDP), which is equal to 31.8% of the world\u2019s sovereign debt nominally.<\/p>\n

THE WORLD DEBT LEADERBOARD<\/u><\/strong><\/p>\n

In today\u2019s infographic, we look at two major measures: (1) Share of global debt as a percentage, and (2) Debt-to-GDP.<\/p>\n

Let\u2019s look at the top five \u201cleaders\u201d in each category, starting with\u00a0share of global debt\u00a0on a nominal basis:<\/strong><\/p>\n

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Together, just these five countries together hold 66% of the world\u2019s debt in nominal terms \u2013 good for a total of $41.6 trillion.<\/p>\n

Next, here\u2019s the top five for\u00a0Debt-to-GDP:<\/strong><\/p>\n

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While only Italy and Japan here are considered major economies on a global scale, the high debt levels of countries like Greece or Portugal are also important to monitor.<\/p>\n

In the IMF\u2019s baseline scenario, Greece\u2019s government debt will reach 275% of its GDP by 2060, when its financing needs will represent 62% of GDP.<\/strong><\/em><\/p>\n

– A recent IMF report, obtained by\u00a0Bloomberg<\/a><\/em><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Visualizing $63 Trillion Of World Debt If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion. Courtesy of: Visual Capitalist In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, as Visual Capitalist’s Jeff […]<\/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":[195,364,380,12504,4318],"class_list":["post-27402","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-global-debt","tag-government-debt","tag-visual-capitalist","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27402","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=27402"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27402\/revisions"}],"predecessor-version":[{"id":27403,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27402\/revisions\/27403"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}