United Nations of Debt: Visualizing $63 Trillion in Global Debt by Country

Jeff Desjardins, the Visual Capitalist posted a nice chart of global debt on his website on Friday. I added lines in blue to group the Eurozone countries for comparison purposes. Poland is not on the Euro, but rather the Zloty. Clean boundaries were visually difficult in a single shape.

US is the leader in global debt with 31.8% of the IMFs's estimated $63 trillion in total debt.

Debt Top Five

Charts from the Visual Capitalist .

On a Debt-to-GDP basis the US does not look so bad and China looks downright good. But that assumes you believe China's reported GDP and it also assumes you do not count unfunded liabilities in the US.

Mike "Mish" Shedlock

Comments (19)
No. 1-19
Medex_Man
Medex_Man

Behold the epic failure that is neo-keynesian monetary policy...

Medex_Man
Medex_Man

The US number, as Mish said, ignores at least another $70 trillion in unfunded liabilities / promises that will never be kept.

Japan's debt numbers have only increased over the last 27 years, while its medium cities turned to ghost towns, demographics went from bad to worse (not enough children to even maintain population), and Japan's "leadership" has turned fukashima into a radioactive dump for the next 4000 years.

China's numbers do not include an Enron like dependence on "off balance sheet" financing that isn't really off balance sheet at all. "Social harmony" (aka Tienamen square like rebellion) means all the shadow bank debt is really Bank of China debt. And their UST are worthless since Uncle Sam cannot (is not able to) keep promises to US voters never mind foreigners.

Italy's numbers are not believable either. The Italian people don't trust Rome and consider tax evasion as their national sport.

And France, when their comical military isn't surrendering, is so anti-business its a wonder anyone was actually dumb enough to lend to them.

It won't get better until the whole G7 admits that Keynesian policy is just plain stupid at its very core.

Realist
Realist

Nice presentation. The USA is #1 in debt. And Trump will increase it dramatically! Go USA! How long before Social Security cuts begin? After all, someone has to pay for those tax cuts for the wealthy.

pgp
pgp

This doesn't include private debt to GDP which in Australia for example is near the highest in the world. The governments may be broke but if the people don't have any money because they're hocked up to the eyeballs the effect on banking and economics may be worse.

RobinBanks
RobinBanks

I agree pgp. Private sector debt is much bigger and more important. Private sector debt in China since 2008 has grown the fastest in the history of economics and Australia is one of the highest in the world.It was the changes in private sector debt, not government debt, that led to 2008.