A very interesting map illustrating the amount of governmental debt in relation to the GDP of the country. Is it just me, or is it really so that all of the “highly developed democratic countries” are living on debt, consuming what’s produced by the green-colored part of the world and paying for it with promises?
Here’s a crazy idea. Go to university, get a degree, learn what debt is and how it works. Russia and Somalia cannot raise debt because nobody trusts them as they are basically criminal countries. In other words, when they go to the restaurant, they have to pay cash before their meal arrives. Civilized countries who have earned the trust of each other and of private people can raise debt which helps them fund projects. Put it another way: if i want to build a road to carry bananas from the farm to the port, i have two choices: i can wait until my profits from carrying them by hand are such that i can build a road OR i can take a loan, build the road, and then pay back the loan plus get more profit because i have a good efficient road from day 1. That the USA, for example, can get not just loans, but loans at ridiculously low interest rates, shows that the world trusts it. this is an inccredibly powerful force driving the US economic engine. Russia has no debt because nobody trusts it; hence major infrastructure projects like “Russia Tower” and skolkovo are either stillborn or such disasters.
That is like saying that you will behave well the first couple of years after graduating school, get the trust of the people around you and then go on a wild spending trip borrowing money from all your neighbors left and right. Not only that but then borrowing more from them to pay the interest because you cannot ever pay them back. You are a proponent of Ponzi schemes at the governmental level, my friend. Once you finish high school, I suggest applying for a job with the U.S. government.