National Debt Clock

Saturday, November 28, 2009

Dubai is Just a Harbinger of Things to Come for Sovereign Debt

According to new estimates by Moody’s, the credit rating agency, the total stock of sovereign debt worldwide will have risen by nearly 50 per cent between 2007 and 2010 to $15.3 trillion. The great bulk of this increase comes not from irrelevant little states like Dubai, but from the big advanced economies – America, Europe, and Japan.

1 comment:

  1. I like the author of this article, Jeremy Warner. I think he is right. Everyone else thinks if you just kept your head in the sand and just keep doing the same things you've been doing for years, bad things will just go away. They won't.