Is Greece’s Fate a Harbinger of Our Own?

by Henry Makow Ph.D. — July 18, 2015

hop in
I was surprised to read that America’s per capita debt is 50% higher than Greece’s. Greeks owe about $35,000 per person while Americans owe $57,000. In fact, as the chart below indicates, the Greek per capita debt is close to the Eurozone average, and almost the same as Germany at $34,000.
The difference of course is their capacity to carry this debt. The Greek debt is 200% of the Gross Domestic Product. In 2013, United States public debt-to-GDP ratio was 71.8%, or 104.5% including external debt. The level of public debt was 76.9% of GDP in Germany, 22.4% in China, 66.7% in India, 86% in Canada, 87.2% in the UK, 92.2% in France, 94% in Spain, 124% in Ireland and 127.9% in Italy.
Obviously all nations are vulnerable to the Greek treatment if there were an economic crisis that affected the GDP.


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