Home > debt crisis, financial crisis > What and who caused the government debt crisis? – 3 graphs

What and who caused the government debt crisis? – 3 graphs

from Edward Fullbrook

What happened in 2008?  What and who caused it?  Who should pay for it now? 

 

US and EU general government consolidated gross debt as % of GNP

 Source: European Commission, AMECO
http://www.voxeu.org/index.php?q=node/5062
 

 

EU government expenditure and revenue as % of GNP

http://www.voxeu.org/index.php?q=node/5062

 

EU countries general government consolidated gross debt as % of GNP

Source: European Commission, AMECO
http://www.voxeu.org/index.php?q=node/5062

  1. Frank in midtown
    August 31, 2011 at 8:07 pm

    The failure of the financial markets and resulting economic meltdown caused the government debt crisis. Where is your chart about the failure of the unregulated global investment banking system?

  2. September 27, 2011 at 11:10 pm

    Good work, but Frank’s point is essential. Yet, how can we chart the corrupt collusion that caused the unsustainable unregulated global investment banking system that was destined to fail (end) from the beginning? Naturally, we should include currency speculation and much if not all of the commodities markets and other parasitic exploits (derivatives, etc.). More importantly, when can we start talking about a real solution (which seems to require a pure credit system designed to reward positive contributions to culture, instead of unsustainable negativity, waste, and destruction? If we can start Now, then it may be helpful to consider some of the content compiled at > mm-greenbook.blogspot.com < Thanks

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