The Map of Global Debt

[errolanderson]

a very interesting graphic of where world debt is concentrated . . . .

http://www.visualcapitalist.com/the-world-map-of-debt/

[sumdumguy]

Guess we have some catching up to do.

[dmlfarmer]

yet I continue to hear ads that Canada leads in global economic performance???

[perfecho]

Good one, thanks.

[blackjack]

Sorry for the ignorance Errol...but does this mean the ave Russian is better off than North Americans.

[errolanderson]

blackjack . . . good point. Tough to explain away. But less credit in Russia and in South America, but lower standard of living.

Believe no mortgages in South America. Pay with a briefcase of money, which would be illegal in North America for money laundering reasons.

Russia does need foreign exchange badly. May be part of reason why they are in Syria. Oil prices are heading higher.

[blackjack]

Interesting times...have a couple laid off oil patch guys helping this fall in need of money.

[cottonpicken]

Russia defaulted not to long ago and got locked out of the capital markets for a time. Well more like we just arnt going to pay you. Pretty funny/big story actually.

[cottonpicken]

Not to beat a dead horse but....if you dig enough you will see Iceland never restructured nor defaulted seperate set of books. The size and scope of the banking systems left Reinhart and Rogoff at a loss of words. None of that was done pryer 08.