I find it Funny libs keep bringing up how happy Countries in Europe are. How well they are Doing. Just because a few of them are doing good, does not change the Fact that the Model In general is leading to Serious Debt Problems across Europe. Most of the One they site as great Examples of how Socialism works all have a few things in Common. Very Small Populations, Rich in Resources, and a Healthy Age Demographic make up of their Populations to Support the System. But the Demographic in almost every case is slowly getting worse as Births and Immigration fail to keep up with people getting old.
Eventually they will all face the same problems seen across Europe if they continue with out any Reform, Which they are of course doing as we speak, Because they are not blind to these facts like American Liberals seem to be.
We are in way worse shape than socialist Europe!
America's debt is greater than the combined debt of the entire Eurozone and the U.K.. As the chart shows, America's debt is currently $15.1 trillion, while the Eurozone (which includes France, Germany, Greece, Italy, Spain, the U.K., and others) has a combined debt of $12.7 trillion. (All dollar amounts are in U.S. dollars, and the data refers to closing 2011 numbers.)
The Eurozone is larger than the United States, so America's debt per capita also exceeds the Eurozone's. According to the Census Bureau, the U.S. has a population of 313 million, whereas the Eurozone has a population in excess of 331 million.
Republican presidential candidate Mitt Romney frequently warns that the United States should not become like Greece. "We need to rein in government and unleash the extraordinary vitality and creativity of the American people," Romney wrote in a December op-ed. "We must not wait to suffer a crisis like Greece's or Portugal's to right the ship of state."
But with charts like this, that formulation might already be out of date, considering the enormity of America's debt burden.
List of World’s Largest Creditor and Debtor Nations
Since 2006 The International Monetary Fund’s Balance of Payment statistics have been uploaded into a neat online database accessible through its website. Among country balance of payments figures, the database also features the “Net International Investment Position” of a country, which is defined as the difference between foreign assets that domestic residents own and domestic assets held by foreign entities. Here are the most recent (2010) rankings. Note that the 2011 rankings are still in the process of being calculated.
2010 Country NIIP (Net International Investment Position) statistics by the IMF. NIIP is defined by a country’s total domestically owned assets minus its foreign owned assets. All figures have been adjusted to nominal US dollars.
It is no surprise that the most indebted country, the United States, takes the bottom of the list. Its NIIP means the value of its domestically owned assets is less than its liabilities to foreign investors. We see Spain, Greece, Italy, and Portugal on the list of negative NIIPers as well. Japan, China, and Germany are effectively the countries with the largest NIIP. Countries with a positive NIIP are considered to be creditor nations, while those with a negative NIIP are debtor nations. For everyday investors, the NIIP of a country promises to be a leading indicator of a country’s overall fiscal responsibility. Diversifying holdings in both creditor and debtor nations could help spread a portfolio’s risk over time.
Note that Germany and Switzerland have been acting as the main Eurozone creditors by maintaining a large and positive NIIP. Investors should keep the NIIP figures in mind when measuring the creditworthiness of a country and its businesses. Ultimately, the terms of trade will be determined by those nations that are willing to lend out their capital. Debtor nations will be the ones stuck with the credit card bill.