43,454,601,693,238 Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock

Monday, October 17, 2011
By Paul Martin

by Tyler Durden
ZeroHedge.com
10/16/2011

By now everyone has had a chance to play with the US debt clock. But what about its global cousin? Courtesy of The Economist, we now have a convenient way to track the hundreds of millions in dollars added each and every hour by the global governments who see to spur global deleveraging by, you guessed it, adding more debt. Yes, in the process the world’s sovereigns are transferring default risk away from global corporations to sovereigns, but few in the #OWS crowd appear to have yet figured out this rather disturbing and very insidious usurpation of sovereignty by the global corporatocracy, so said risk and leverage transfer will continue until such time as any and all paper backed by these insolvent corporate shells (f/k/a countries) is completely worthless. Regardless, one should not forget that like in the sandalone case, the “debt clock” below only tracks on balance sheet debt. Should one add the NPV of all “welfare state” obligations (pensions, retirement, healthcare), the number will be well over quarter of a quadrillion dollars. Have fun funding that, never mind paying it off…

The Rest…HERE

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