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Worldwide Debt Crisis Unravels: Doomsday Scenario for the Markets

• pg 15y ago
  "It becomes quite frightening when a country's debt level is reaching or surpassing its GDP." This sentence and the accompanying graph told me as much as I needed to know about the author. Debt is total and GDP is annual. If having a debt greater than your GDP is an intrinsic problem, imagine how much worse off we'd be if the earth went around the sun twice as fast. (And yes, I realize that would be a problem for other reasons.)
  • ivankirigin 15y ago
    Let alone that GDP isn't a particularly good measurement. For example among many possible, if I sell a house and pay capital gains taxes, the transaction isn't counted