|Country||External Debt to GDP||External Debt per capita||Gross Q2 2009 external debt|
|United States||94.3%||$44,000||$13.5 trillion|
|Hong Kong||205.8%||$90,000||$631 billion|
|United Kingdom||408.3%||$148,000||$9 trillion|
- I have rounded some figures, mostly the debt per capita
- Q2 2009 debt is way outdated, since the second half of 2009 was a real collapse in tax income and that 2010 is likely as bad...
- Anybody who lends to any of these countries exposing himself to losing a big part of his investment, for a yield completely ridiculous compared to the risk.
- The scandinavian model praised on all the newspapers and by most socialist-economists is actually a big failure and scandinavian failures will most likely default at the same time as many European countries...
- While I have kind of forecasting a default coming from Denmark, I wasn't aware that Belgium and Netherlands where in such a big hole.
- Who knew for Switzerland? How did they dig in such a deep hole for themselves? Are people investing in the CHF totally insane?
- Ireland is bust
The external debt of a country is defined as the "total public and private debt owed to nonresidents repayable in foreign currency, goods, or services"This is really important, as the debt also includes the private one (both individuals and corporations). It's not clear if it has to be in foreign currency or not, though I doubt it, given that the US for example, have only borrowed in their own currency.
He also thinks that Luxembourg and Switzerland are in the top list because they tend to attract lots of "shell companies" and their debt. Which makes sense I believe.