Top 20 Most In Debt Nations

[mikey_the_redneck]

Originally Posted by Devils'Advocate

I'm still completely confused.

Who are the people loaning the money? Countries? Banks?

It is mostly central banks (like the Fed for example) and the IMF.

IMF = International Monetary Fund. It is an international central bank that lends out to many nations..mostly poorer ones with no central bank of their own.

Here is some idea of what the IMF does. Dirty organization imo....
http://www.google.ca/url?sa=t&source...yAlLpS-IFxfOhw

It puts these poor nations in debt and when they can't make their payments the IMF then cuts deals with them to take over some of their assets at bargain prices...

On top of that, the Wallstreet types like Goldman Sachs go in and sell these countries their bubble bust schemes..and then you get what we have now...

[FlamesAddiction]

I recently read that Canada, as the 9th biggest contributor to the IMF, is going to be paying about $500 million to the Greek bailout. Sorry, can't find the link now.

[renny]

Originally Posted by mikey_the_redneck

It is mostly central banks (like the Fed for example) and the IMF.

IMF = International Monetary Fund. It is an international central bank that lends out to many nations..mostly poorer ones with no central bank of their own.

Here is some idea of what the IMF does. Dirty organization imo....
http://www.google.ca/url?sa=t&source...yAlLpS-IFxfOhw

It puts these poor nations in debt and when they can't make their payments the IMF then cuts deals with them to take over some of their assets at bargain prices...

On top of that, the Wallstreet types like Goldman Sachs go in and sell these countries their bubble bust schemes..and then you get what we have now...

Completely agree with your assessment of the IMF, a very very dirty organization that ruins countries more than helps them.

[JBTrio]

Can't believe we (Australia) are 18th on the list.

[3 Justin 3]

Originally Posted by Bob

Where is Iceland? Supposedly their three banks (which were all nationalized) racked up a debt amounting to 1,000 years of Icelandic GDP a few years ago. I think the country assumed all of that when they took them over ...

Iceland isn't in debt, they are completely bankrupt. Iceland's economic situation is by far the worse that has ever happened to anything ever in history.

[Devils'Advocate]

Originally Posted by mikey_the_redneck

Dirty organization imo....

Originally Posted by renny

Completely agree with your assessment of the IMF, a very very dirty organization that ruins countries more than helps them.

Yeah, I know what the IMF is. Have since Bruce Cockburn wrote "And they call it Democracy.":

"IMF, dirty MFs,
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt"

I thought it funny that you both used the word "dirty". Though I don't think you went far enough as you didn't call them MFs.

-=-=-=-
I don't think the IMF loaned money to Greece. It's mostly for controlling 3rd world countries. Greece won't be there until next week.

[Flame Of Liberty]

Originally Posted by Calgaryborn

I hope you are right about the cause being US companies.

I'm a little skeptical about any up turn this year because of the fall elections and Obama's war chest of unspent stimulus funds. Between that money and the money the banks have returned Obama is in a great position to buy a short term economic boom.

Could this increase in jobs simply be caused by private companies creating short term jobs with stimulus money or hir
eing to fullfill a sudden flurry of government contracts\subcontracts?

And that's what he's going to do. What's $50 billion among friends?

Last night the White House sent a letter to lawmakers asking them for legislation to (primarily) assist states. The plan is to distribute the states money so that they can defer job cuts of teachers, police and fireman.

This request is about politics. The President wants to spend an extra $50b between now and the November elections. The thinking is that that the 300,000 state workers who will keep their jobs for another half year will all vote for Democrats.

The President’s proposal will pass the buck forward a few months on these layoffs. But by January they will be back on the table. We are less than six months away from another significant slowdown. The President no longer has the money to avoid that reality.

http://www.zerohedge.com/article/whi...0-billion-debt