the comments on the second article were interesting ... .. I have been working on the EU bail out stories lately [ yeah go figure but in the end is all information I guess ... in the main the Business journos are a nice lot to work with.
from today's Wall Street Journal "This is the main reason that federal debt held by the public as a share of GDP has climbed from 40.3% in 2008, to 53.5% in 2009, 62.2% in 2010 and an estimated 72% this year, and is expected to keep rising in the future. These are heights not seen since the Korean War, and many analysts think U.S. debt will soon hit 90% or 100% of GDP." from Todays Los Angeles Times *Ireland's public debt equals about 94% of its annual gross domestic product. Portugal's percentage is 83%. Greece's is a stunning 144%. By comparison, U.S. public debt is about 60% of GDP, not counting what's owed to government agencies such as Social Security. At the other end of the debt spectrum from Western Europe are countries such as South Korea, Slovakia and Brazil<http://www.latimes.com/topic/intl/brazil-PLGEO00000132.topic>, which have public-debt-to-GDP ratios of 24%, 41% and 61%, respectively. Not surprisingly, their investment-grade credit ratings have been untainted by the 2008 global financial crash and its aftereffects. * interesting thing about Greece is in the past almost everybody was a tax avoider ! a skype IV with an MD in greece and she said that her take home salary [ from a public hospital] had dropped 30% better than 100% I guess but still a scary thing to deal with *Obama's Treasury Secretary Tim Geithner says the debt ceiling date is absolute. After months of shuffling funds from one government account to another to cover debt repayments as money has started to run out, Geithner claims the US government will be unable to pay its bills after August 2.* *At the very least, the US government faces a $US134 billion shortfall next month unless the impasse is resolved, as debt obligations to China and other US creditors exceed the amount of tax revenue pouring into government coffers.* from *http://tinyurl.com/6lfzcp8* * * * * * * On Sat, Jul 16, 2011 at 3:45 AM, Mugsy Lunsford <[email protected]> wrote: > While we're watching the bizarre maneuverings over the debt ceiling, I > thought this report on confidence was interesting. > > http://www.care2.com/causes/america-blames-economy-on-gop.html > > This is perhaps outdated now, but also caught my eye - an imaginary > presidential speech on the debt ceiling issue, from a Constitutional Law > prof. > > > http://www.theatlantic.com/politics/archive/2011/04/the-speech-obama-could-give-the-constitution-forbids-default/237977/ > > > -- > You received this message because you are subscribed to the Google Groups > "StrataList-OT" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]. > For more options, visit this group at > http://groups.google.com/group/stratalist-ot?hl=en. > > -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
