The crisis explained in one chart: Debt-to-GDP
I believe the OP was looking for “comment”. My effort was to balance what had been presented. Hence, my turning the tables on a post dissparaging what we agree is a very common calculation.
I’m sure Chris has data supporting his calculation of ~340% and everything about it might be agreeable to us, but we need notes on its specific composition if we’re ever to compare it to other countries, or even our own past. Otherwise, its apples and oranges. You, I and others will have to remain curious, but essentially unable to put it in context beyond its raw shock value.
I don’t put as much weight in proprietary calculations. But conceptually, I would agree the debt/GDP ratio should be somehow grossed up when measuring the claims paying ability of not just the government, but its people as well.
I enjoy your video.
It is very interesting.
this is a worthy article to run through :-
It is most worthwhile clicking on all of the links throughout.
Importantly, make sure you have the necessary time to spare to read it through properly and aid digesting the information. Some of it is most definately difficult to swallow.
I spent weeks looking through this info before I came back up for air and began to comment here …
With The Greatest Respect,
Davos has just reminded me of this site :-
on the :-
In The Dark Of Night – Debt Limit To Be Increased thread :-
… that is very pertinent to my last post here…
I’m immediately suspicious when I note the souce of the data is Bush’s whitehouse.gov…
While not exactly a neophyte, I’m not as versed in politics and the economy as I should be However, I prefer independent data over something produced by an obvious political agenda as I find truth in the adage that “figures lie and liars figure”.
Personally I am very skeptic of anything the government has a hand (or fist) in.
I know this isn’t the GDP but, by way of example to decry the truthfulness of political backed communications, how many of you got a flu shot because the government media machine told you how important it was with numerous statistics, and cute animations about the effets of the H1N1 virus? Did you read or hear anything from the government remotely indicating the efficacy of the vaccine?
Ok then, how many people don’t get a laugh out of the ridiculous pharmacuetical adds that promise relief for every possible human condition and show cute graphs and animations as proof, while at the same time mumbling or speed reading a litany of similar side effects that sound similar to the ailments of the last commercial.
This is an example of how our government protects us from the false claims of small money snake oil salesmen while making it possible for big money pharmacuetical companies to boast their elaborate claims. Don’t you feel protected?
Perhaps the FDA and USDA should require the government to hold itself accountable to the same truth in advertising rules. Imagine the next State of the Union address or FED Announcement being followed by a list of side effects like…
(read quickly and in a subdued tone)
—Accepting the Government’s plan could result in foreclosures, loss of income, reduced spending power, impaired quality of life, or a total collapse of the economy. Should you experience foreclosure, loss of income, reduced spending power, impaired quality of life, or a total collapse of the economy contact your Congressman or Senator immediately as these symptoms may be a sign of harmful or potentially fatal side effects.—
“For those who understand no expalanation is necessary, for those who don’t, no explanation is possible.”