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I was just reading some facts about Bill Gates' riches, when I found out that he is able to free USA from its national debt of 6500 billion dollars, in 35 years by his income.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
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I was just reading some facts about Bill Gates' riches, when I found out that he is able to free USA from its national debt of 6500 billion dollars, in 35 years by his income.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
Given that even USA has a national debt so huge; what about other countries?
And then a question came to my mind. If suppose USA has a debt of 200 billion dollars on UK, and USA owes UK 150 billion dollars, USA can keep the national debt to be just 50 billion dollars.
In the same way, suppose every country in the world clears off its debts. What effect would it have on world economy? Anything serious? Or just related to inflation.
I don't really know what you're trying to say but no, not even Bill Gates could afford to pay off the US' national debt.
THe USA had a surpluss of 250 billion before GWB got his grubby mitts on it... so I heard...
Money, money, money. Must be funny, in the rich man's world.
The debt isn't necessarily to other countries. Usually it's to banks and the like, off whom the US borrows billions every year to pay for its spending.
In fact a country without any debt is said to be missing investment opportunities - a very rare thing indeed if such a country exists at all.
OK. Thats what I had expected from you.
Now, we don't expect any country to pay off its debs at one go, but suppose if a country pays off its debts in the specified time limit, and does not take any more debts, what would be the consequence?
Now, we don't expect any country to pay off its debs at one go, but suppose if a country pays off its debts in the specified time limit, and does not take any more debts, what would be the consequence?
EDIT
OK. Thats the answer I had expected!
Now, we don't expect any country to pay off its debs at one go, but suppose if a country pays off its debts in the specified time limit, and does not take any more debts, what would be the consequence?
OK. Thats the answer I had expected!
Now, we don't expect any country to pay off its debs at one go, but suppose if a country pays off its debts in the specified time limit, and does not take any more debts, what would be the consequence?
The Winster wrote:
> EDIT
>
> OK. Thats the answer I had expected!
>
> Now, we don't expect any country to pay off its debs at one go, but
> suppose if a country pays off its debts in the specified time limit,
> and does not take any more debts, what would be the consequence?
There would be no consequence as such, apart from a happy Chancellor of the reserve bank.
> EDIT
>
> OK. Thats the answer I had expected!
>
> Now, we don't expect any country to pay off its debs at one go, but
> suppose if a country pays off its debts in the specified time limit,
> and does not take any more debts, what would be the consequence?
There would be no consequence as such, apart from a happy Chancellor of the reserve bank.
the debts aren't to the actual nations, they are to individuals and corporations tied to those naions, as a result they don't cancel each other out
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