The World's Biggest Debtor Nations

silverharp

and the winner is

CNBC slideshow

http://www.cnbc.com/id/30308959?slide=16


http://www.cso.ie/releasespublications/documents/economy/current/externaldebt.pdf

Edit - I'm sure the IFSC etc has distorted the numbers , if anyone has a comparable "net" figure to get an idea how much debt it is attached to Irish industry ,gov and people , feel free to add or put in context

Belfast

Perhaps the Irish nation needs to start listen to Dave Ramsey

"where debt is dumb, cash is king, and the paid off home mortgage has taken the place of the BMW as the
status symbol of choice."

Dave Ramsey has a cool radio show that help people get out of Debt and get control of there lives.

Dave Ramsey offers life-changing financial advice as host of the nationally syndicated radio program, The Dave Ramsey Show, heard by nearly 4 million listeners each week on more than 400 radio stations throughout the United States.

The three-hour live radio talk show focuses on life, love, and relationships, and how they happen to revolve around money.
http://www.daveramsey.com/radio/home/

ednwireland

surely the US tops that list, their balance of payments deficit topped 1 trillion dollars last year, or am i missing something here - probably because its mickey mouse numbers to me

Alcatel

ednwireland wrote: »

surely the US tops that list, their balance of payments deficit topped 1 trillion dollars last year, or am i missing something here - probably because its mickey mouse numbers to me

It's per capita?

ejmaztec

As the US is a combination of states, it would be interesting to see where the EU itself, treated in the same way, would be placed on the list.

turgon

For those who dont want to have to go to an external site simply to understand a thread, the worst debtor nation was Ireland.

silverharp

turgon wrote: »

For those who dont want to have to go to an external site simply to understand a thread, the worst debtor nation was Ireland.

Thanks , Hope this helps

Permabear

This post has been deleted.

Daithinski

donegalfella wrote: »

This post has been deleted.

Good christ. That's frightening. We're doomed, doomed I tells ya!:eek:

Saabdub

Is there an up to date source for the Irish national debt?

greendom

ednwireland wrote: »

surely the US tops that list, their balance of payments deficit topped 1 trillion dollars last year, or am i missing something here - probably because its mickey mouse numbers to me

Absolutely, I was always under the impression that the US was by far the highest debtor nation - these numbers don't ring true to me...

lukasbasic

greendom wrote: »

Absolutely, I was always under the impression that the US was by far the highest debtor nation - these numbers don't ring true to me...

then google first then try to ring again
per capita means that each citizen has to pay off $549,819

professore

This is not the same as the national debt. Our national debt is a relatively healthy 41% of GDP at present.

http://www.ntma.ie/NationalDebt/levelOfDebt.php

http://www.ntma.ie/NationalDebt/debtGDP.php


External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the IMF and World Bank.

So probably this is debt owed by companies resident in Ireland. Since a lot of companies are resident in Ireland purely for tax reasons this is a completely misleading statistic IMHO. Things are bad but not that bad.

greendom

professore wrote: »

This is not the same as the national debt. Our national debt is a relatively healthy 41% of GDP at present.

http://www.ntma.ie/NationalDebt/levelOfDebt.php

http://www.ntma.ie/NationalDebt/debtGDP.php


External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the IMF and World Bank.

So probably this is debt owed by companies resident in Ireland. Since a lot of companies are resident in Ireland purely for tax reasons this is a completely misleading statistic IMHO. Things are bad but not that bad.

that makes a lot more sense

greendom

lukasbasic wrote: »

then google first then try to ring again
per capita means that each citizen has to pay off $549,819

Thanks for the lesson and the condescension - much appreciated

Saabdub

So if the national debt was €50,400,000,000 in December and the CSO states the population was 4,239,848 in July 2006 this gives a figure of €11,887 ($15,459) national debt per capita. That's less than 3% of the figure quoted above. So where does the other 97% of the debt come from?

Alcatel

Saabdub wrote: »

So if the national debt was €50,400,000,000 in December and the CSO states the population was 4,239,848 in July 2006 this gives a figure of €11,887 ($15,459) national debt per capita. That's less than 3% of the figure quoted above. So where does the other 97% of the debt come from?

That's just what we've already borrowed against the state. It doesn't count mortgages, credit cards, what we're out on by for the bank insurance.

silverharp

this might give a bit of context to the private sector element, still very high if you add the gov element to it

http://www.ntma.ie/Publications/2009/std_poors_ireland_rating_march09.pdf

The medium-term prospects for the Irish economy are constrained by three
interrelated factors: first, the impact on domestic demand as the private
sector reduces its high debt burden, which stood at 280% of GDP in 2008;
second, the scale of the deterioration of asset quality in the banking sector
and possible need for additional capital; and, third, the support from
external demand Ireland can expect as global economic conditions improve.

donvito99

We're doooooooomed!

Saabdub

I found the figures on the CSO website from last December Eur 1.66 trillion http://www.cso.ie/releasespublications/documents/economy/current/externaldebt.pdf

af_thefragile

Atleast we made it to the top in something! :rolleyes:

Saabdub wrote: »

So if the national debt was €50,400,000,000 in December and the CSO states the population was 4,239,848 in July 2006 this gives a figure of €11,887 ($15,459) national debt per capita. That's less than 3% of the figure quoted above. So where does the other 97% of the debt come from?

If oscarBravo wouldn't have had closed my thread people would have had a better understanding of how the monetary system and debt works. But guess true hard facts aren't allowed here.
Anyway if you wanna take a look, its still here: http://boards.ie/vbulletin/showthread.php?t=2055543982

Once you watch that you'll understand why most of the west is in a state of perpetual debt. The more money a country makes, the more in debt it gets because thats how the whole monetary system is designed to be!



Btw, here's another good list of the external debt of all the countries:
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

and here's another list of the public debt of all the countries:
http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

stevedublin

af_thefragile wrote: »

Atleast we made it to the top in something! :rolleyes:

we also win Eurovision Song contests btw.

af_thefragile

^oh yeah, we also won the six nations championship.
Wohoo, we're making progress!! =/

asdasd

If oscarBravo wouldn't have had closed my thread people would have had a better understanding of how the monetary system and debt works.

Money is debt, real wealth is created when people create goods and services to pay the bank back. The potentical flaw in the system is finite resources, and - well - what we are seeing now.

the solutions are worse. From that video' solution, goverment creates money, pays it's employees, and private enterprise exists at the margins supplying to government. The government would have to run most of the econoomy and only large projects would inject cash into the economy. Eventually when all the roads are built there is a lot of infrastructure but nothing left to do.

oscarBravo

af_thefragile wrote: »

If oscarBravo wouldn't have had closed my thread people would have had a better understanding of how the monetary system and debt works.

More accurately, people who are in a position to watch Internet video would have the opportunity to see one explanation of how the monetary system is perceived to work.

But guess true hard facts aren't allowed here.

If you want to share "true hard facts", feel free to do so, in text form: this is a text-based discussion forum.

Anyway if you wanna take a look, its still here: http://boards.ie/vbulletin/showthread.php?t=2055543982

Wow, look: it's still there. I guess that means I failed in my attempt to suppress your "true hard facts", doesn't it?

af_thefragile

^Well, before you gave me a chance to write it down in text form, which i did mail you and tell you it was quite a complicated system to be explained properly in text form, you closed it down...

Just cuz you don't share the same opinion about the modern banking monetary system as me (or the one described in video, which is as accurate as it could get) doesn't mean you reject it completely and prevent others from reflecting on it. What is this, socialism?!

oscarBravo

I closed the thread because it didn't comply with the forum rules. You might want to consider reading those rules now, particularly the one about discussion of moderation.

mac_iomhair

i watched a video on "google video" last night entitled "FIAT EMPIRE" which I have to say opened my eyes.
We are suppressed by debt for a reason, that is to make money for the rich and keep us "poor" and in our place. Working man always gets fecked in the rectum! The american dream is a facade,

I would like to ask the question, are our Euro's backed by gold or are they as worthless as the dollar in reality?

oscarBravo

mac_iomhair wrote: »

i watched a video on "google video" last night entitled "FIAT EMPIRE" which I have to say opened my eyes.
We are suppressed by debt for a reason, that is to make money for the rich and keep us "poor" and in our place. Working man always gets fecked in the rectum! The american dream is a facade,

There's a dedicated Conspiracy Theories forum.

I would like to ask the question, are our Euro's backed by gold or are they as worthless as the dollar in reality?

Last time I brought a bunch of Euros to a shop, I was able to exchange them for goods. That sort of gives the lie to the idea of them being worthless.

asdasd

Wow, look: it's still there. I guess that means I failed in my attempt to suppress your "true hard facts", doesn't it?

Ha! That's because Oscar Bravo's attempt to control the entire InterWeb and hide the TRUTH about DEBT AND MONEY has been thwarted!! For now.

We are suppressed by debt for a reason, that is to make money for the rich and keep us "poor" and in our place. Working man always gets fecked in the rectum! The american dream is a facade,

I have no debt. I am merely "suppressed" by The Man, my employer. Damn him! he's keeping me down. Now he is in debt!!!!! HAHAHAHAHAHA

That said, he is very rich though. He used the debt to start a company and is on the way to paying it back, gaining himself a large equity.

Still. He's suppressed, and I'm free!!

mac_iomhair

oscarBravo wrote: »

Last time I brought a bunch of Euros to a shop, I was able to exchange them for goods. That sort of gives the lie to the idea of them being worthless.

your being very close minded here, also this is not a conspiracy theory.