Global public debt

The world has many global problems. The examples are global warming, global crisis and global public debt. Since we live on the same planet and in one economical system we share the same problems. The governments experience similar difficulties in taking over the control of the world problems. Not solving them will result in submitting the bill to next generations. I can not imagine that countries will not pay debts. The debt will increase until new real reforms will be in place.

Following yahoo news USA government debt (also called public debt or national debt) riched $14 trillion ($45,300 per capita). At this level US Congress has to provide regulations to limit within the current cup.

In Poland the public debt is over 50% of GDP. It is close to the second internal warning level is at 55%. There are also EU regulations to prevent the increase of the deficit. The government is planning the changes the pension system to be able to influence the way debt is calculated - it is called "the reform of pension system".

There are some counties having higher deficit in relation to GDP in Europe. Italy and Portugal has the dept ratio over 100%. For Germany probably the ratio over 70% will not be so difficult due to the size of the economy.

The debt is increasing fast and we can observe it with the help of many public debt clock available in the Internet. The actual official publicly accessible data is not easy to find as it is usually more than one year old. Anyway they show the problem.

I found following sources of information related to global debt:

1. The global public debt clock and he map to compare countries across the globe is on "The Economist" site.
2. The global rank is also available at CIA The World Fact Book. 
3. Graphical representation of some key economy factors in one of the articles in "The Economist".

There are more risky and less risky countries. Solving the problem will take time, so maybe it would be good to think which country to live in waiting to the solution. For the moment please find the graph (“Visualization from Gapmider World, powered by Trendalyzer from www.gapminder.org.“) that illustrates change of GDP per capita for some countries - you can also press play button to see animation. There are more factors to consider. I would like try to choose the country for a living based on economical and social factors in my next post.