[imgz=http://forums.silverstackers.com/uploads/35_1200x900xnational-debtgifpagespeedic49nf-bvwow.png][/imgz] 2009 Unfortunately not Australia. Click on image I note that Russia has low debt and lots of oil. http://www.creditloan.com/blog/2009/06/05/gdp-vs-national-debt-by-country/ Sorry,2009 ................................ US debt clock Click on to for a surprise. http://www.usdebtclock.org Russian debt 2011 ""Russia faces no traditional fiscal sustainability issues" because it has low government debt and $520 billion of foreign- currency reserves, the statement said. "Nevertheless, the non- oil fiscal deficit -- which matters more for Russia's long-term fiscal sustainability -- remains large."
wow Russia in the black, did a lot of their debt get wiped when they collapsed?? Guess buy up big then default is a worthy strategy?
If we take JP Morgan calculation, than 6-7% increase in treasury yield will increase the already high US interest payment with a further 1 trillion a year. Quote of the day "Deficits don't matter" Dick Cheney http://www.bloomberg.com/news/2011-...terest-cost-by-100-billion-jpmorgan-says.html A U.S. credit-rating cut would likely raise the nation's borrowing costs by increasing Treasury yields by 60 to 70 basis points over the "medium term," JPMorgan Chase & Co.'s Terry Belton said today on a conference call hosted by the Securities Industry and Financial Markets Association. Standard & Poor's, which has given the U.S. a top ranking since 1941, reiterated on July 21 that the chance of a downgrade is 50 percent in the next three months and may cut the nation as soon as August. "That impact on Treasury rates is significant," Belton, global head of fixed-income strategy at JPMorgan, said during the call held by the securities industry trade group. "That $100 billion a year is money being used for higher interest rates and that's money being taken away from other goods and services."
