May 26, 2010

Greek Crisis Threatens USA

[From Article]

"Here is the chilling fact: the average external debt as a percent of GDP among countries in their sample the year before a sovereign debt crisis was 54.7 percent, and 71.4 percent in the crisis year. The U.S. external debt on Dec. 31, 2009, was $13.77 trillion, or almost 100 percent of GDP. For much of Europe, the story is worse."

http://www.businessweek.com/news/2010-05-16/greece-s-bailout-heroes-arrive-in-leaking-boats-kevin-hassett.html

Bloomberg.com

Greece’s Bailout Heroes Arrive in Leaking Boats: Kevin Hassett

May 16, 2010, 9:20 PM EDT

No comments: