Tuesday, May 04, 2010
Contagion
Investment Postcards: European Web of Debt
An interesting visual although obv needs to be put in a larger context.
People often argue that debt doesn't matter that much once asset values are taken into account. Surely this is only true to the extent that the assset is income producing. Perhaps the fund problem is that we have focused too much on asset valuations (which are largely artificial constructs and liable to bubble) and not enough on income which is real.
UK housing is a prime example of this.
Posted by bellwether @ 11:23 AM (853 views) Add Comment
2 Comments
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1. Ellipse said...
errr....numbers don't seem to add up or am i missing something - Case of Ireland, adding 184+188+60+16,22+18+08 = 488.8 although it says total Irish debt is $867bn...and that's even not accounting for potential net-off. Any idea?
2. rumble said...
I think the larger context exists in the form of the New York Times a few days back, from which the image has been scavenged.