Debt

September 2011

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Definition

A 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 numbers

127 – 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?

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