World Debt Clock

[jesseps]

The Economist

 

Total debt as % GDP

 

1. Japan @ 196.3%

2. Greece @ 128.5%

3. Italy @ 118.2%

 

Canada pretty high on the list @ 82.3%

The lowest total debt is Russia. Its under 9-10%.

Edited October 18, 2010 by jesseps

[Cyrus]

That is pretty good for Russia! It was basically debt that collapsed the Soviet regime... where did all the debt go?

 

<iframe src="http://www.iedm.org/includes/clock-fr.html" width="100%" height="135px" frameborder="0" scrolling="no" marginwidth="0" marginheight="0"></iframe> <a href="http://www.taxpayer.com/node/9547?utm_source=DCW&utm_medium=widget&utm_campaign=DebtClock"><img src="http://www.debtclock.ca/ticker/feddebt.php" border="0" width="184" height="120"></a>

Edited October 18, 2010 by Cyrus

[MTLskyline]

The Economist

 

Total debt as % GDP

 

1. Japan @ 196.3%

2. Greece @ 128.5%

3. Italy @ 118.2%

 

Canada pretty high on the list @ 82.3%

The lowest total debt is Russia. Its under 9-10%.

 

These are pretty alarming numbers. I hope that Maxime Bernier will either be a PM or a Premier someday.

Edited October 18, 2010 by MTLskyline

[mtlurb]

That is pretty good for Russia! It was basically debt that collapsed the Soviet regime... where did all the debt go?

 

the money was lent to the USSR which doesn't exist anymore:silly:

 

Who do you think will end up paying Quebec's share of the federal debt, if the federal decides not to negotiate after a YES vote:silly::silly:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(p.s. Russia paid its debt thanks to the oil, last payment they did was around 64B$)

[Cyrus]

LOL, after a YES vote there will be negotiation for sure But it will be easy, Quebec debt 541 G$ and Canada debt 221 G$, just switch the numbers

[jesseps]

Am I looking at this correctly. Almost half of Canada's debt is Quebec debt?!

 

Anyways, congrats to Russia paying off their debt. Thing is, isn't the majority of Russian citizens poor?

 

So whats better. Country with not a lot of debt, but citizens with no money or a country with lots of debt, but citizens who do have some money?

Edited October 18, 2010 by jesseps

[MTLskyline]

Am I looking at this correctly. Almost half of Canada's debt is Quebec debt?!

 

Anyways, congrats to Russia paying off their debt. Thing is, isn't the majority of Russian citizens poor?

 

So whats better. Country with not a lot of debt, but citizens with no money or a country with lots of debt, but citizens who do have some money?

I think you're looking at it wrong. The numbers cyrus posted relate to the two levels of government. The government of Quebec has debt of $222.8 Billion. The government of Canada has debt of $543.9 billion. Since Quebec's share of the population is about 22 or 23%, our share of the federal debt is approximately $120 Billion. Now, that is still nothing to be proud of. Ontario has 13 million people, and their provincial government has a debt number similar to ours. Their share of the federal debt would be about 40%.

 

What I'm confused about are the numbers on the Economist's website. Canada doesn't really have $1,255,441,095,890 of public debt does it?? (even if the public debt of all provinces, territories and cities are combined)

[Cyrus]

I think you're looking at it wrong. The numbers cyrus posted relate to the two levels of government. The government of Quebec has debt of $222.8 Billion. The government of Canada has debt of $543.9 billion. Since Quebec's share of the population is about 22 or 23%, our share of the federal debt is approximately $120 Billion. Now, that is still nothing to be proud of. Ontario has 13 million people, and their provincial government has a debt number similar to ours. Their share of the federal debt would be about 40%.

 

It depends how you slice the share... Quebec has a lower proportion of population today than in the past, and a lot more federal "things" are here, e.g. bridges, highways, buildings... it depends if they would want to just split the debt on a population basis, or on a "investment dollars" basis which probably would be unfavourable for us...

 

Am I looking at this correctly. Almost half of Canada's debt is Quebec debt?!

 

Anyways, congrats to Russia paying off their debt. Thing is, isn't the majority of Russian citizens poor?

 

So whats better. Country with not a lot of debt, but citizens with no money or a country with lots of debt, but citizens who do have some money?

 

But the countries with the most debt have the poorest people If you live in Russia it's good to move to Canada (high debt, but high standard of living), but if you live in Canada... it is good to move to Alberta (zero debt)

 

What I'm confused about are the numbers on the Economist's website. Canada doesn't really have $1,255,441,095,890 of public debt does it?? (even if the public debt of all provinces, territories and cities are combined)

 

Well, 543 + 223 + 205 (Ontario) + 0 (Alberta ) + ~50 (BC) is already a trillion, and there are still high debt Atlantic provinces, MB and SK to consider.

Edited October 18, 2010 by Cyrus

[Malek]

It depends how you slice the share... Quebec has a lower proportion of population today than in the past, and a lot more federal "things" are here, e.g. bridges, highways, buildings... it depends if they would want to just split the debt on a population basis, or on a "investment dollars" basis which probably would be unfavourable for us...

 

Ce que tu décris ce sont les actifs du fédéral présent au Québec. La dernière fois que l'excercice à été fait de compter ça, le Québec avait 18%... donc 18 % de la dette fédérale. Je crois pas qu'il y a eu beaucoup de ponts ou d'immeubles fédéraux construits au Québec dans les 5 dernières années.