Per the CIA, the United States is the Brokest Nation in the World

Tuesday, February 23, 2010 , , , 4 Comments

If you believe the account balances via the CIA's World Factbook, we're not doing too well compared to the rest of the world. Go on, click it.

The top five (based on "a country's net trade in goods and services, plus net earnings from rents, interest, profits, and dividends, and net transfer payments (such as pension funds and worker remittances) to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms."):

  • 1 China $296,200,000,000
  • 2 Japan $131,200,000,000
  • 3 Germany $109,700,000,000
  • 4 Switzerland $79,180,000,000
  • 5 Norway $58,560,000,000

Those are positive account balances in case the coffee hasn't kicked and you're confused.

Putting this into perspective, Zimbabwe comes in #112 with an account balance of -$597,400,000. The United States? Dead last at -$380,100,000,000 in position #190.


Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


W.C. Varones said...

Yeah, but we've got all their plastic ducks!

Who's laughing now?

Anonymous said...

Are we really "broke" though? With companies in the USA that have cash balances in the high billions, I am certain collectively we aren't going bankrupt anytime soon.


You keep believing that. I am certain that others are certain of the same thing you are however it is not prudent to believe we can leverage against this indefinitely...


W.C. Varones said...

Company balance sheets aren't the problem.

Consumer and government balance sheets are a horror show.

The companies aren't going to bail out the consumers with all their balance sheet cash. And nobody's big enough to bail out the government.

Most of the cash-rich companies are tech titans (AAPL, MSFT, INTC, CSCO, QCOM, AMZN, etc.) as other mega-caps like XOM and WMT and GE don't hoard cash.

You could confiscate all those companies' cash hoards, and you might come up with more than $100 billion. That wouldn't even plug 3 months' federal deficit, much less make a dent in the national debt.