Who are World's Top 10 Largest Creditor Nations?

[Jlaw]

While Media Obsesses Over Pussy-Gate, US Debt Soars To $19.7 Trillion
The US government’s debt level has soared to just a hair under $19.7 trillion. To give it some context, that’s up over $170 billion in just eight business days.... the fastest pace in 13 months. It’s almost as if Barack Obama is intentionally and desperately trying to breach the $20 trillion mark before he leaves office in January.

http://www.zerohedge.com/news/2016-...es-over-pussy-gate-us-debt-soars-187-trillion

that's not counting unfunded liabilities.

http://www.businessinsider.com/us-government-7-trillion-pension-shortfall-2016-4

The credit-rating agency Moody's says state, local, and federal governments are about $7 trillion short in funding coming pension payments.

"The unfunded liabilities of the various federal employee pensions systems, covering civilian and military employee benefits, amount to about $3.5 trillion, or 20% of US GDP," a release from Moody's said Wednesday.

"Additionally, Moody's estimates that unfunded state and local government pension plan liabilities are of the same magnitude, bringing the total shortfall to 40% of GDP."

 

[AndrewJin]

that's not counting unfunded liabilities.

http://www.businessinsider.com/us-government-7-trillion-pension-shortfall-2016-4

The credit-rating agency Moody's says state, local, and federal governments are about $7 trillion short in funding coming pension payments.

"The unfunded liabilities of the various federal employee pensions systems, covering civilian and military employee benefits, amount to about $3.5 trillion, or 20% of US GDP," a release from Moody's said Wednesday.

"Additionally, Moody's estimates that unfunded state and local government pension plan liabilities are of the same magnitude, bringing the total shortfall to 40% of GDP."

American debt is the taboo of western corporate media.....

Hence, you can always hear blah blah blah about China, Japan, Europe, etc, at the same time, those who have been brainwashed both at home and its foreign followers defend their own dilemma with their best wishes.

 

[Jlaw]

American debt is the taboo of western corporate media.....

Hence, you can always hear blah blah blah about China, Japan, Europe, etc, at the same time, those who have been brainwashed both at home and its foreign followers defend their own dilemma with their best wishes.

than we should agree with american media and tell americans nothing is wrong with their debt. keep on spending. spend more on Chinese goods!

 

[AndrewJin]

than we should agree with american media and tell americans nothing is wrong with their debt. keep on spending. spend more on Chinese goods!

I also advise for them, they should spend another one trillion dollars in upgrading their deadly outdated railway system, 2 derails in one week.

 

[Jlaw]

I also advise for them, they should spend another one trillion dollars in upgrading their deadly outdated railway system, 2 derails in one week.

Than they need to buy Chinese HSR. Better than their Amtrek train

 

[dy1022]

So "superpower" is the largest debtor nation , what about the so called bragging superpower wannabe?

 

[Jlaw]

So "superpower" is the largest debtor nation , what about the so called bragging superpower wannabe?

Let me ask you this. Can a beggar on the street go bankrupt?

 

[terranMarine]

Just 3 years ago "crisis" broke out, debt reaching $16,7 trillion
https://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2013

 

[TaiShang]

Just 3 years ago "crisis" broke out, debt reaching $16,7 trillion
https://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2013

I think, by entirely removing that ceiling, they can get rid of the debt problem forever. The ceiling was suspended to March 2017, I wonder what will happen then.

that's not counting unfunded liabilities.

http://www.businessinsider.com/us-government-7-trillion-pension-shortfall-2016-4

The credit-rating agency Moody's says state, local, and federal governments are about $7 trillion short in funding coming pension payments.

"The unfunded liabilities of the various federal employee pensions systems, covering civilian and military employee benefits, amount to about $3.5 trillion, or 20% of US GDP," a release from Moody's said Wednesday.

"Additionally, Moody's estimates that unfunded state and local government pension plan liabilities are of the same magnitude, bringing the total shortfall to 40% of GDP."

So many legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds... Can government give up on some these obligations? One way to reduce military spending is perhaps to contract them out. The present host-nation-fee model is sort of like that, but they better seek a better coverage, including obliging host nations to assume part of the retirement payments.

 

[terranMarine]

 

[AndrewJin]

But they don't have money for their deadly railway system, 2 derails in one week.

 

[Shotgunner51]

While Media Obsesses Over Pussy-Gate, US Debt Soars To $19.7 Trillion
The US government’s debt level has soared to just a hair under $19.7 trillion. To give it some context, that’s up over $170 billion in just eight business days.... the fastest pace in 13 months. It’s almost as if Barack Obama is intentionally and desperately trying to breach the $20 trillion mark before he leaves office in January.

http://www.zerohedge.com/news/2016-...es-over-pussy-gate-us-debt-soars-187-trillion

I just edited post #1 and added three behemoth creditor nations - Norway, Netherlands and Singapore - to the top 10 list. If there is any nation missing, please let me know. The list of creditor nations updated by second quarter of 2016, all converted to US$:

1. JAPAN: US$ 3.41896 trillion
2. GERMANY: US$ 1.718391 trillion
3. CHINA (Mainland): US$ 1.6636 trillion
4. HONG KONG: US$ 1.1114652 trillion
5. TAIWAN: US$ 1.053905 trillion (**data from end of 2015)
   
6. SWITZERLAND: US$ 764.57 billion
7. NORWAY: US$ 728.202 billion
8. NETHERLANDS: US$ 583.5015 billion
   
9. SINGAPORE: US$ 577.399 billion
10. SAUDI ARABIA: US$ 572 billion

Following the above list, these nations should be added to the league of creditor nations: Belgium, Russia, South Korea, Denmark, United Arab Emirates, Israel, Qatar. I might have to verify the numbers.​

On the debtor side, the list is much longer:

• US leading the peck as the largest debtor nation by a long shot, standing at US$ -8.0428 trillion by end second quarter 2016.

• Despite Germany, Norway, Netherlands, Belgium & Denmark are major creditors, since two-third of Euro Zone (similarly in EU) are debtor nations, some of which are serious debtors e.g. PIIGS, the Zone is still slightly indebted when data consolidated as whole, standing at euro -881.9 billion (US$ -978,909 billion) as of second quarter 2016.

http://www.ecb.europa.eu/stats/keyind/html/index.en.html​

 

[grey boy 2]

What about India @Shotgunner51 ?

 

[Shotgunner51]

What about India @Shotgunner51 ?

India is a debtor nation, as per Reserve Bank of India (RBI) net IIP stood at US$ -353.1 billion at end 2016 Q2.

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=38199

My observation is that this degree of indebtness is very normal, on par with most developing countries, and far below that of US, PIIGS or the group of HIPC (Highly Indebted & Poor Countries, see World Bank definition below). Given the current stage of development, foreign credits, if used properly, are instrumental to build a surplus-generating domestic economy (contrary to deficit economy). Sustainability is the key.

http://www.worldbank.org/en/topic/debt/brief/hipc

 

[bbccdd1470]

I think, by entirely removing that ceiling, they can get rid of the debt problem forever. The ceiling was suspended to March 2017, I wonder what will happen then.



So many legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds... Can government give up on some these obligations? One way to reduce military spending is perhaps to contract them out. The present host-nation-fee model is sort of like that, but they better seek a better coverage, including obliging host nations to assume part of the retirement payments.

I don't think both Trump or Clinton's policy can solve the national debt problem, since Hillary wants to tax the rich and further increase the spending, while Trump wants to reduce the taxes. However, Trump also wants to reduce military spending by forcing their vassal to pay the full cost for protection. Hopefully Trump will eventually decide to relocate all their military base back to USA, since their bases cost a great deal of money. But honestly I don't think Trump will be elected due to most people in USA pay more attention to Trump's pussygate other than their national corruption, unemployment and debt problem. I remember one US judge used to say Trump is politically incorrect, but Hillary is politically corrupted. For me, USA is beyond help now.