One country is even more indebted than the United States ¡¡¡¡¡
- Posted by Marc on October 2nd, 2009 filed in economy
Total US and UK debt as % of GDP (1870-2008).
One economic indicator has surprised me. In 2008, english currency, the Sterling began to depreciated againts dollar and Euro. One possible explanation was the enormous private and public english debt, bigger than american ones ¡¡¡¡¡¡¡.
US total debt (private and public) is 350% of their Gross Domestic Product (GDP) in 2008. Of course, this ratio will increase in the next 24 months.
For United Kingdom, it accounts for 450% of their Gross Domestic Product (GDP) and growing.
Spain is also in this “exclusive club” of countries with more than 300% of total debt relative to GDP.
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