Now THIS is a lot of money...

[Scooter]

$250 Trillion..with a T.

That is the debt US, Japan, China, Eurozone...and other small nations owe each other.

The sectors break down to corporate debt, government debt, household debt and financial debt.

Info is from WSJ article 1/2/19.

If world population is about 7 billion (and my math is correct)...we owe one another about $35,000.

Please p.m. me for my bank's routing number....if you feel obligated to repay your portion of my debt.

[jacwjames]

I can cover my portion. Can you cover yours???

[IC2]

I really don't care about any other counrty but the US. That imbalance of trade is what our government has done to us with unequal tariffs. In other words, other countries can import their stuff to the US and pay very little in tariff (taxes) but in turn those countries charge us the proverbial arm and leg for our products. Just take a wander through any Walmart or Big Box store loke Home Depot and pick up virtually any item, including some lumber products and look at the company of origin. Mostly China with others like Bangladesh or Malaysia. Even the items that say Made in USA - often only assembled here from products sourced (at less cost) 'worldwide'. This has been going on since the 1960's and has only gotten worse. Balance of trade - it only exists in a fantasy world and those trillions of whichever currancy - it is a product of govenment policies, USA and elsewhere.

OK, the soapbox is put away (at least for now)

[steve52]

Mostly meaningless, just numbers in a ledger. The reason I say that is because this "debt" will never be paid, or required to be paid, all at once. The world economy is not like your household budget. It's like people who freak out over the national "debt", as if they will receive a bill one day.

They will not. It's an accounting device that tracks how much cash the government has put into the economy.

[Badlands Bob]

Personally, I've already paid my share.......more than once.

[Mr_D]

Originally Posted by jacwjames

I can cover my portion. Can you cover yours???

Yep, I can cover mine.

[lass]

I have to agree that the debt will not be repaid but since we continue to pay interest on it, that becomes an additional burden on the national budget. I can control my budget but ???

[Cloud Dancer]

I'm not falling for it. Your are NOT going to get me started. Not going to say another word. I've already said too much.

[MRUSA14]

Originally Posted by steve52

Mostly meaningless, just numbers in a ledger. The reason I say that is because this "debt" will never be paid, or required to be paid, all at once. The world economy is not like your household budget. It's like people who freak out over the national "debt", as if they will receive a bill one day

That's what they thought in Weimar Germany in the 1920s, and in Venezuela in this decade. The result was no food in the stores and starving people in the streets and freezing in their homes. If you think that can't happen here, you may be laying the foundation that will make it happen here.

Borrowing more and more worked for the Germans for a long time, until it didn't. In the first half of 1922, the mark stabilized at about 320 marks per dollar. By November 1923, the US dollar was worth 4,210,500,000,000 German marks.

[slickest1]

I will wait for a refund!!

[aether_one]

Originally Posted by IC2

I really don't care about any other counrty but the US. That imbalance of trade is what our government has done to us with unequal tariffs. In other words, other countries can import their stuff to the US and pay very little in tariff (taxes) but in turn those countries charge us the proverbial arm and leg for our products. Just take a wander through any Walmart or Big Box store loke Home Depot and pick up virtually any item, including some lumber products and look at the company of origin. Mostly China with others like Bangladesh or Malaysia. Even the items that say Made in USA - often only assembled here from products sourced (at less cost) 'worldwide'. This has been going on since the 1960's and has only gotten worse. Balance of trade - it only exists in a fantasy world and those trillions of whichever currancy - it is a product of govenment policies, USA and elsewhere.

OK, the soapbox is put away (at least for now)

Remember when Walmart touted "Made in USA" products?
Remember when people brought carts in from the parking lot at Walmarts?

[96 Wideglide]

Originally Posted by IC2

In other words, other countries can import their stuff to the US and pay very little in tariff (taxes)

I believe they call that, 'exporting'.

[IC2]

Originally Posted by tfryman

Remember when Walmart touted "Made in USA" products?
Remember when people brought carts in from the parking lot at Walmarts?

..as did my formerly favorite casual wear store, LL Bean, Shirts labeled LT that fit for 30 years no longer fit my 36 arm length nor cover my nether end when bending over

Originally Posted by 96 Wideglide

I believe they call that, 'exporting'.

Absolutely right. Most likely had't had my 3rd cuppa coffee yet