Avoiding another Dubai – INSIDE JoongAng Daily

Sobering statistics…

<p>Government debt is currently piling up around the world. That’s usually considered a postwar situation. The reason for the increase in national debt is that governments are increasing their financial investments to overcome the economic crisis and using public funds to nationalize insolvent finance institutions. Some even say that last year’s financial crisis has now become an economic crisis – the two are similar in terms but the problems are different in structure.</p>

<p>The public debt of the United States, calculated as a percentage of its annual gross domestic product, was 30 percent in the early 1990s. Currently, however, the percentage is hovering around 50. The White House anticipates the ratio will exceed 100 percent by 2019, which means the United States will have to spend more than 20 percent of its annual budget on its national debt should the current zero interest rate rise to the 3 percent level.</p>

<p>via <a href=”http://joongangdaily.joins.com/article/view.asp?aid=2913260&#8243; mce_href=”http://joongangdaily.joins.com/article/view.asp?aid=2913260″>Avoiding another Dubai – INSIDE JoongAng Daily</a>.</p>

via Avoiding another Dubai – INSIDE JoongAng Daily.

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