5 ms·
Is there an economy in existence that doesn't run a deficit? I don't think it is possible under current monetary regimes.
by jsprogrammer 11y ago
Is there an economy in existence that doesn't run a deficit?
I don't think it is possible under current monetary regimes.
- api 11y agoOnly petro-states and places with little economy to speak of as far as I know. Net debt equals net savings, so the vast majority of developed economies run deficits because somebody has to soak up the surplus they create. But Venezuela was a petro state. See my other post for the real reason for their collapse.
- psuter 11y agoIf you believe this list [1], South Korea, Germany, Switzerland, among others (I've informally excluded tiny and oil-rich ones). [1] https://www.cia.gov/library/publications/the-world-factbook/rankorder/2222rank.html https://www.cia.gov/library/publications/the-world-factbook/...
- jsprogrammer 11y agoHeh, downmods for a question. Classic HN. Anyway, I checked out the first country (South Korea) in your source. 2014-12-31 estimate of outstanding debt is $424.5 Billion with a credit stock of ~$2.4 trillion. If you want to only analyze receipts over a short period of time, then I'd guess you can find a positive period for most countries.