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Europe countries deficits

Discussion in 'General Forex Talk' started by Eric Alyea, Feb 5, 2010.

  1. Eric Alyea

    Eric Alyea Master Sergeant

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    Looking at profit numbers
    Dow Jones down 268.37
    Why some Europe countries national deficits spend more then they collect.
    Countries in Europe:
    spending 30-40% of their tax revenue in interest repayment
    Spain
    Italy
    Portugal
    Greece
    Ireland
    If you pay 40% of your tax revenue (THE VALUE OF YOUR CURRENCY) to pay back your loans. How can we trust you.
    How can invertors trust you.
    This just gives us which way to use them.
    It’s just money, make a profit.
     
    #1 Eric Alyea, Feb 5, 2010
    Last edited: Feb 5, 2010
  2. Pharaoh

    Pharaoh Colonel

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    I'm sure glad the USA would never spend more money than it collects in ta . . . . . oh wait.
    :unhappy:
     
  3. manneke

    manneke Private, 1st Class

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    deficit

    anyone knows what % of budget goes for debts in UK?
     
  4. Stony

    Stony Sergeant

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    Enough! ;)
     
  5. Ricex

    Ricex Sergeant

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    The Maastricht Treaty's excessive deficit procedure sets excessive debt limits at 60% of GDP for all EU countries. The deficit maximum, that's the % difference between what's coming into the goverments coffers and what's going out, is set at 3%.

    In the UK they are currently at 55.5% debt and 7.1% deficit.

    At the moment the Greeks are looking at 113% and 12.7%, the Italians 115% and 5.5%, the Spanish 60% and 11.4%, the Portuguese 85% and 9.3% and the good old Germans 60% and 3.2%

    The USA owe, give or take a dime, $12,311,349,677,512.03 (I don't even know how to say that much). Their total public debt is around 67% of GDP and their deficit around 10%.

    These numbers vary a bit depending on who's doing the talking so let's say they are broadly correct but probably not exact.

    We are all in the $h*t one way or another but the sacrificing of countries full of real people living as best they can just because some dickhead politicians can't add up or are downright corrupt is at the very least unfair and at the most inhumane.

    The problem is always too little too late, in many situations humankind seems to have to always go to the edge of disaster before doing anything.
     
  6. cowmadagan

    cowmadagan Sergeant

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    #6 cowmadagan, Feb 10, 2010
    Last edited: Feb 10, 2010
  7. Pharaoh

    Pharaoh Colonel

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    Twelve trillion, three hundred eleven billion, three hundred forty nine million, six hundreds seventy seven thousand, five hundred twelve dollars and three cents.

    Of course, it went up a few million while I was writing that. :hissyfit:

    Let's do this the easy way with some approximations. About 12 trillion dollars divided by about 300 million Americans means each US citizen owes about $40,000.
     
  8. Pharaoh

    Pharaoh Colonel

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    Looks like my approximation was pretty good. As I write this, the people at US Debt Clock show that it's $40,092 per person.

    Per taxpayer, it's a lot higher.

    Check it out for yourself: U.S. National Debt Clock : Real Time
     
  9. cowmadagan

    cowmadagan Sergeant

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    if you look at the section on precious metals on that site, it shows the amount of platinum produced is going down slowly....?
     
  10. Pharaoh

    Pharaoh Colonel

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    Maybe we're grinding platinum up into a fine powder, mixing it with dirt, and burying it??? :p

    It does seem odd that the total production for the year is dropping. I'll guess someone set up that particular set of stats incorrectly.
     

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