tag:blogger.com,1999:blog-19263903.post5175756683316886231..comments2023-10-18T05:23:01.822-05:00Comments on Laurence Hunt's Blog: SEC = KGB?Laurence Hunthttp://www.blogger.com/profile/16512608792667325309noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-19263903.post-31566302801474336912010-04-28T23:41:42.057-05:002010-04-28T23:41:42.057-05:00On an entirely different (but related and timely) ...On an entirely different (but related and timely) matter, here are some interesting numbers on the sovereign debt crisis - currently focused on Greece and Spain, but look out Ireland and others....<br /><br />Country Name, Gross External Debt, GDP, percentage of external debt vs. GDP<br /><br />1.Ireland – 2.386tr, 188.4b, 1267%<br />2.Switzerland – 1.338tr, 316.7b, 422.7%<br />3.UK – 9.087tr, 2.226tr, 408.3%<br />4.Netherlands – 2.452tr, 672b, 365%<br />5.Belgium – 1.246tr, 389b, 320.2%<br />6.Denmark – 607.38b, 203.6b, 298.3%<br />7.Austria – 832.4b, 329.5b, 252.6%<br />8.France – 5.021tr, 2.128tr, 236%<br />9.Portugal - 507b, 236.5b, 214.4%<br />10.Hong Kong – 631.13b, 306.6b, 205.8%<br />11.Norway – 548.1b, 275.4b, 199%<br />12.Sweden – 669.1b, 344.3b, 194.3%<br />13.Finland – 364.85b, 193.5b, 188.5%<br />14.Germany – 5.208tr, 2.918tr, 178.5%<br />15.Spain – 2.409tr, 1.403tr, 171.7%<br />16.Greece – 552.8b, 343b, 161.1%<br />17.Italy – 2.31tr, 1.823tr, 126.7%<br />18.Australia – 891.26b, 800.2b, 111.3%<br />19.Hungary – 207.92b, 196.6b, 105.7%<br />20.US – 13.454tr, 14.26tr, 94.3%<br /><br />The problem is that Greece and Ireland can't print their own money (they're in the Euro). Unlike the US, UK and others, they actually have to solve the problem or opt out of the European monetary union. Based on past levels of responsibility alone, I have to predict that it's "Good-bye EU," rather than fix the problem - that is unless their bonds collapse. Then fixing the problem - or eternal bailouts - are all that remain!Laurence Hunthttps://www.blogger.com/profile/16512608792667325309noreply@blogger.comtag:blogger.com,1999:blog-19263903.post-10889728943515579842010-04-28T23:10:08.112-05:002010-04-28T23:10:08.112-05:00Here's how I introduced this post on Facebook:...Here's how I introduced this post on Facebook:<br /><br />"I'm a little tired of all the Goldman bashing, and finally decided to say a little something about it. OK, nobody likes Goldman Sachs because they are successful at a financial game that we know is rigged. But who rigged it? The SEC was at the top of the list. The SEC is playing dirty now because their rigged game stopped working, so they are punishing the winners. Who is guilty here? Goldman Sachs - maybe not at all - they played by the rules that were set by the SEC. The SEC? Guilty of complicity in trashing the global financial system. Read all about it, here...."Laurence Hunthttps://www.blogger.com/profile/16512608792667325309noreply@blogger.comtag:blogger.com,1999:blog-19263903.post-70471095867648479822010-04-28T22:48:45.673-05:002010-04-28T22:48:45.673-05:00Unfortunately, the US is failing right on schedule...Unfortunately, the US is failing right on schedule, consistent with all other historical precedents. A century of global leadership is more or less about all one nation gets - moving from exceptional productivity to disorganization and decline in the space of a century. <br /><br />As Britain did well in many ways long after the fall of its empire, I hope the US can too. I'm not saying the US is "bad," but it is severely off-track, deeply divided, and pushing the wrong buttons to fix the problem!<br /><br />If Jim Rogers is right, you can multiply your savings several times over during the next 8-10 years by investing in commodities and precious metals. Hang on for the long term. I hope this goes very well for you!Laurence Hunthttps://www.blogger.com/profile/16512608792667325309noreply@blogger.comtag:blogger.com,1999:blog-19263903.post-22060198390028050752010-04-28T22:41:23.888-05:002010-04-28T22:41:23.888-05:00right on! its great living in a semi-failed state ...right on! its great living in a semi-failed state [ga/us] with everyone having no clue. im just working on building up my capital reserves to take advantage of the current situation. what a great time to be a young post-collegiate american in 2010.veshhttps://www.blogger.com/profile/03576953594450290107noreply@blogger.com