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CHART - Sovereign Debt Madness - $10.2 Trillion in Global Borrowing Expected In 2011

(WSJ) - $10.2 trillion is 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.

Aside from Japan, which has a huge debt hangover from decades of anemic growth, the U.S. is the most extreme case. Next year, the U.S. government will have to find $4.2 trillion. That’s 27.8% of its annual economic output, up from 26.5% this year. By comparison, crisis-addled Greece needs $69 billion, or 23.8% of its annual GDP.

So far, with the notable exception of Greece, major advanced nations haven’t had too much trouble raising the money they need. Japan’s domestic investors have consistently bought its government bonds despite their low yield. Foreign investors have been snapping up U.S. Treasury bonds, which remain the world’s premier safe-haven investment.

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Reader Comments (7)

If you accept China's method of calculating "real" GDP, 4.2 trillion is 84% of real productive U.S. output.
Source: Dagong US Credit Downgrade: Surveillance Report.

Nov 9, 2010 at 2:36 PM | Unregistered CommenterWil Martindale
great post wil..i hadn't seen that report from China...
Nov 10, 2010 at 10:18 AM | Registered CommenterDailyBail
wow..those numbers are just staggering...so our real gdp is just about $5 trillion once you back out the financial hocus-pocus...
Nov 10, 2010 at 10:20 AM | Registered CommenterDailyBail
$92 billion: How much companies spent on their own shares in the third quarter of 2010.

Dec 21, 2010 at 2:38 AM | Registered CommenterDailyBail
Dec 21, 2010 at 2:42 AM | Registered CommenterDailyBail
Heathrow Nightmare before Christmas (20-Dec-2010)


runs 15 seconds...
Dec 21, 2010 at 2:45 AM | Registered CommenterDailyBail

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