Number Of The Week: $10.2 Trillion In Global Borrowing -- Wall Street Journal
$10.2 trillion: The amount of money advanced-nation governments will need to borrow in 2011
As the debts of advanced countries rise to levels not seen since the aftermath of World War II, it’s hard to know how much is too much. But it’s easy to see that the risk of serious financial trouble is growing.
Next year, fifteen major developed-country governments, including the U.S., Japan, the U.K., Spain and Greece, will have to raise some $10.2 trillion to repay maturing bonds and finance their budget deficits, according to estimates from the International Monetary Fund. That’s up 7% from this year, and equals 27% of their combined annual economic output.
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My Comment: Bottom line .... expect rough economic times and tight money that will impact everything .... from being able to borrow money at reasonable rates, to big government entitlement programs and defense budgets.
1 comment:
And if oil prices creep up - expect expensive food, expensive gasoline, heating oil and inflation or even hyper inflation. That's not good.
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