So Detroit is now Bankrupt...

[MikeRox]

thranx said:

darkknightkryta said:

thranx said:

I think every country is printing money, and deflating the values of their currencies. so while the dollar is worth less, so is every thing else, so in comparison they dont change much against each other. everyone just pays more for everything

This is true, but I don't think there's a country out there with the amount of debt that the U.S. is currently sitting on (11 Trillion and rising?).  I honestly don't see an explanation as to why prices of goods and services hasn't skyrocketed in relation with their money printing.

I could be wrong, but I believe Japan, and some European countries hold a higher debt to gdp ratio. not sure though

Greece, Portugal and Ireland have all required bailouts from the EU to stop them going bankrupt. Spain and Italy are also currently struggling quite badly with financial problems. They are all suffering from very high unemployment and ongoing recessions.

France are in a much better position, but there are concerns for them too. The UK was a big worry, but at the moment recent data has been relatively positive. Though it has turned out our recession in 2008 was far bigger and deeper than anybody had previously thought. Germany have weathered it fairly well throughout, but their population are getting a bit fed up of the "Bailouts" and feeling like they are bank rolling other countries' irresponsibility.

Thats my little snapshot of Europe anyway.

As for Japan, their economy has been stagnant for a good decade. Their current government are now printing loads of Yen to try and bump start their economy. They've not had any real growth in a long time now and are very indebted.