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1. World wide? What source are you referencing? The States sure, but I have no idea about the rest of the world and have never read anything talking about world
by fallentimes 18y ago
1. World wide? What source are you referencing? The States sure, but I have no idea about the rest of the world and have never read anything talking about world wide debt rates.
2. See number 1.
3. The saving rate statistics are misleading because they don't include 401k and IRAs, which were not nearly as popular 10-20 years ago as they are today.
- mtts 18y agoSince the financial system is indeed global, world wide is correct. Sure, it's only in the US, the UK and Spain that a housing bubble has burst (AFAIK, still, that's more world wide than the US alone), but financial institutions are in trouble in Germany, in Belgium and the Netherlands as well (again, AFAIK). In Iceland the collapse of the banking system is so severe the country as a whole (not just the banks!) is effectively bankrupt. And I just read on http://fistfulofeuros.net/ http://fistfulofeuros.net/ that Ukraine is pretty close to something similar.
- fallentimes 18y agoRight - markets. What about the debt rates the author referenced in his OP?
- mtts 18y agoGood point. Apparently the UK has a situation similar to the US where debt rates are enormous. But you're right in that most of the world is rather more frugal than the US.
- nostrademons 18y agoThere's a worldwide asset bubble everywhere, in all asset classes. China's stock exchange soared 400% over the last 2 years and is now down 70% in the past 8 months. Similar problems in Southeast Asia, Russia, etc.