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The Countries with the Most Monstrous Business Debts: US in 22nd Place Despite Massive Spike During the Pandemic


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The Countries with the Most Monstrous Business Debts: US in 22nd Place Despite Massive Spike During the Pandemic

https://wolfstreet.com/2021/06/07/the-countries-with-the-most-monstrous-business-debts-us-in-22nd-place-despite-massive-spike-during-the-pandemic/

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..These debts are from nonfinancial businesses and exclude banks, nonbank lenders, insurance companies, and other lenders because lenders borrow and then lend, and including their debts would lead to some double-counting.

But what is happening in the USA pales compared to what is happening in some other countries, such as the corporate tax havens and financial centers of Luxembourg, Ireland, and Hong Kong, and of course in China, according to the data released today by the Bank for International Settlements (BIS) for Q4 2020. It leaves the USA in ignominious 22nd place!

This is the incredibly spiking US nonfinancial business debt hitting an astounding 84.6% of GDP, per BIS (matches the Fed’s figures in terms of dollars and tracks closely in terms of percent-of-GDP):...

 

Edited by Saving For a Space Ship
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26 minutes ago, Si1 said:

UK is low down that list but we, like the US, are dominated by finance industry so to exclude finance debt is probably to be unrepresentative.

Massively. It seems almost deliberate disingenuous, doesn't it?

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11 minutes ago, Si1 said:

UK is low down that list but we, like the US, are dominated by finance industry so to exclude finance debt is probably to be unrepresentative.

If you discount HK, Singapore and Luxemburg (by virtue of their entrepot status) then the UK lies around 5/6th.

Household debt is the outlier.

Aggregate non-financial debt: 101.1 (public) + 169.9 (private) = 271.0% of GDP. The equivalent figure for Q4 2019 was 240.9%.


 

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48 minutes ago, zugzwang said:

If you discount HK, Singapore and Luxemburg (by virtue of their entrepot status) then the UK lies around 5/6th.

Household debt is the outlier.

Aggregate non-financial debt: 101.1 (public) + 169.9 (private) = 271.0% of GDP. The equivalent figure for Q4 2019 was 240.9%.


 

But surely all that accidental saving due to no more commuting and lattes must have reduced private debt?

🙄

Bozo's bounce/roaring 20s is predicated on that!

Edited by Mikhail Liebenstein
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2 hours ago, Mikhail Liebenstein said:

But surely all that accidental saving due to no more commuting and lattes must have reduced private debt?

🙄

Bozo's bounce/roaring 20s is predicated on that!

 

Private sector debt is up 10% or so yoy. More debt is being borrowed than retired, which obviously bears out what we've been witnessing again in the housing market.

The 'Roaring Twenties' is a wish fulfilment fantasy conjured up by Bozo's sponsors in the billionaire press.

Here's the likely reality:

2953257.jpg?t=20191019104029

Edited by zugzwang
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1 hour ago, zugzwang said:

 

Private sector debt is up 10% or so yoy. More debt is being borrowed than retired, which obviously bears out what we've been witnessing again in the housing market.

The 'Roaring Twenties' is a wish fulfilment fantasy conjured up by Bozo's sponsors in the billionaire press.

Here's the likely reality:

2953257.jpg?t=20191019104029

You know me too well, just bought it.

 

 

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