I dip into the Zero Hedge blog on all things financial when I’ve a moment or two to spare.
Appearing on the blog recently is a link to the home of insightful infographics at Demonocracy. The lovely image of French Debt is a small part of an infographic showing truckloads of $100 bills equating to sovereign debt.
There’s an equally good infographic on the exposure of banks to Portugal, Ireland, Italy, Greece and Spain [PIIGS], which shows the truckloads of cash that are needed to rescue the insolvent PIIGS.
Looking at these charts, I sought out other sources on the state of national indebtedness. Here are a couple.
The Economist’s interactive overview of comparative debt as a % of GDP [Gross Domestic Product] provides another view of debt by country.
The UK’s position isn’t good. Tullett Prebon’s July 2011 paper ‘thinking the unthinkable’ , provokes some serious concerns about the UK’s position.
I know it’s all scary stuff, especially when the UK’s National Debt now tops a £1trillion. I’m not a pessimist or a believer in financial armageddon, as there are some causes for optimism, as my next blog post will show.