Foreign born as a percentage of population
April 4th, 2017 at 4:42:17 PM permalink | |
kenarman Member since: Oct 24, 2012 Threads: 14 Posts: 4530 | I missed that you were a percentage of GDP which is often the measure. I don't believe that is a reasonable metric but I am likely in the minority. Is your annual spending 10% borrowed money? That sounds like a losers game to me. If (probably when) interests rates get back to historical average levels our annual deficit will double or triple with the increase in interest rates. You and I probably are quite far apart in the political spectrum Cesspit. A spoilt rich kid who became a teacher and thus has never lived in the real world is not who I want for my PM. "but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin |
April 4th, 2017 at 5:11:46 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
That is a worldwide problem. Only a few countries have relatively low debt to GDP ratio. 2015 (except Japan 2014) Australia : 37.64% debt-to-GDP ratio China : 42.92% debt-to-GDP ratio Mexico : 54.0% debt-to-GDP ratio Germany : 71.2% debt-to-GDP ratio United Kingdom : 89.1% debt-to-GDP ratio Canada : 91.5% debt-to-GDP ratio United States : 105.2% debt-to-GDP ratio Portugal : 129% debt-to-GDP ratio Greece : 177.4% debt-to-GDP ratio Japan : 249.11% debt-to-GDP ratio |
April 4th, 2017 at 6:32:02 PM permalink | |
TheCesspit Member since: Oct 24, 2012 Threads: 23 Posts: 1929 |
The deficit, as Paco shows, at 90% of GDP is too high. I'll agree with that. I thought it was much lower (Thsi source says 31% - The federal debt (the difference between total liabilities and total assets) stood at $616.0 billion at March 31, 2016. The federal debt-to-GDP (gross domestic product) ratio was 31.1 per cent, up slightly from the previous year. https://www.fin.gc.ca/afr-rfa/2016/report-rapport-eng.asp). Note that Harper's government ran deficits for six straight years. The Conservatives can't lay claim to being the party of low spending. It's what you spend it on that's probably as important. Governmental economics are not the same as personal finances.
That would mean you are either fiscally very liberal or very conservative and very socially conservative then. I'd describe myself as closest to the traditional Canadian Liberal party, but probably a bit more of a social democrat. Which is why I am curious who you would want, and why. I'd argue teachers do live in the real world... whole slices of real world happen in schools. He did work at a private school, but also on-call for the Vancouver School Board. Were you a fan of Harper? Which Conservative leader do you want to run the country? It is said that your life flashes before your eyes just before you die.... it's called Life |
April 4th, 2017 at 6:32:55 PM permalink | |
TheCesspit Member since: Oct 24, 2012 Threads: 23 Posts: 1929 |
Source, as Canada's government quotes it as 31%.... for federal deficit. It is said that your life flashes before your eyes just before you die.... it's called Life |
April 4th, 2017 at 7:33:15 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Defining terms, deficit is for one year, debt is for cumulative. If interest rates go up, then you must pay on your debt. The International Monetary Fund cites two measures (1) Total (Gross) government debt as % of GDP (2) Net government debt as % of GDP I was using the first definition in my table which is over 90% for Canada, while you are using the 2nd measure This rather lengthy video explains the difference between gross and net debt. Net debt takes government assets into consideration which can IN THEORY be used to pay off the debt. Net debt is theoretical number that involves the government liquidating it's assets. However, when you are discussing interest rates going up, they will have an effect on gross debt.
See you are using the "difference between total liabilities and total assets". In reality the government is never going to liquidate it's assets, so you have to pay interest on your liabilities. List of countries by public debt https://en.wikipedia.org/wiki/List_of_countries_by_public_debt |
April 4th, 2017 at 8:18:34 PM permalink | |
Nareed Member since: Oct 24, 2012 Threads: 346 Posts: 12545 |
I wouldn't have imagined Mexico has a lower debt to GDP ration than the US. Though anyone with business experience knows that the important thing about debt is not how much you have, but how able you're to pay it. Here's a measure I'd like to see, though. How much of your country would you have to sell to pay off the debt? Donald Trump is a one-term LOSER |
April 4th, 2017 at 9:32:22 PM permalink | |
TheCesspit Member since: Oct 24, 2012 Threads: 23 Posts: 1929 | Thanks Paco, makes sense. It is said that your life flashes before your eyes just before you die.... it's called Life |
April 5th, 2017 at 7:03:43 AM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
I'm surprised that surprises you. From my perspective that has been Mexico's major claim to fiscal prudence. Now Canada and Mexico have very different gross debt to GDP ratios (Canada is much higher than Mexico), but they have almost the same net debt to GDP ratio as Canadian government has far more assets than the Mexican government (including holdings in foreign currency reserves). USA has relatively few assets as a percent of GDP. The gold reserves are only worth piddly in the modern world. USA sees no real reason to have foreign reserves because the dollar is the primary reserve currency. |
April 5th, 2017 at 7:18:07 AM permalink | |
Nareed Member since: Oct 24, 2012 Threads: 346 Posts: 12545 |
My surprise is the US owes that much debt. I wonder how much is now owned by foreigners Golden Boy is trying to piss off. Donald Trump is a one-term LOSER |
April 6th, 2017 at 6:22:12 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
This website keeps track of national debt around the world. I think it is "net debt" which subtracts assets. http://www.nationaldebtclocks.org/debtclock/mexico Canada as of 23 March 2017 has USD$83.226 in foreign reserves of which $49.7 billion are in actual USD. Mexico’s has US$179 billion in foreign exchange reserves which is larger than the USA's $116 billion. China has around $3 trillion in foreign reserves while Japan has over $1 trillion. The exact makeup of many foreign reserve accounts is often secret, although Canada makes a point of sharing how much it has in USD. It is generally accepted that if China and Japan stop buying US treasury bonds (let alone selling some that they hold), the impact on US and World economy would be huge. |