I find debt to GDP ratio misleading you see on 53% it looks half ok, but if you look at tax receipts (which is the governments income not GDP) compared to debt is more than 17x the amount of tax receipts. If they weren’t part of the euro they could have devalued their currency but that wouldn’t go well with German luxury manufacturing. If we were in 17x in debt compared our years income in debt we’d be bankrupt. It’s actually probably more than 17x it was a few years since I looked at the stats at the time the U.S.A was 13x more than its tax receipts.

Thanks josh and Jon for another good post I’ll see you at anarchapulco!