DefinitionA debt is a sum of money owed.
A debt crisis is what is happening right now. If you can afford a window, look out of it.
Note: The "B" in “Debt” is silent, like a Swiss banker.
Debtocracy Now: A crisis in numbers127 – The average number of credit cards owned per person in the US (false).
704 vs 28,841 (USD) – China's average debt per capita compared to the US (true).
5 – The average number of fingers on the human hand (this one's true too).
Notorious Creditors- China: We're sure that owing billions will have no long-term effects.
- Loan Sharks: Always open for business.
- Future generations.
Notorious Debtors- Uncle Sam (the US government): 12 trillion in debt, but it's ok, they can print more money.
- Bear Stearns, Goldman Sachs, AIG, CitiBank.
- Your little brother Joe. Where's my money, Joe?