List of countries by current account balance

digme

http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance

Any idea what rank we were pre before sh!t hit fan?





Look who are at the bottom?

ei.sdraob

digme wrote: »

Look who are at the bottom?

Ireland is still a next exporter with exports holding fairly steady and imports into the country have collapsed

assuming the white elephants of PS and Welfare are addressed

we could trade our way out of this hole, and have an export led economy like the one we had in 90s

johnnyskeleton

ei.sdraob wrote: »

Ireland is still a next exporter with exports holding fairly steady and imports into the country have collapsed

assuming the white elephants of PS and Welfare are addressed

we could trade our way out of this hole, and have an export led economy like the one we had in 90s

Interesting though that the three biggest exporters of goods (as opposed to what we export - profits) also have healthy government accounts.

I think it's clear we should try to be a bit more like Germany certainly, but also like Japan and China and not base on economy on consumerism of imported goods.

ei.sdraob

johnnyskeleton wrote: »

Interesting though that the three biggest exporters of goods (as opposed to what we export - profits) also have healthy government accounts.

I think it's clear we should try to be a bit more like Germany certainly, but also like Japan and China and not base on economy on consumerism of imported goods.

of course they do

sensible economic policies leads to solid economy (tho imho China currently is one big bubble waiting to pop, too much money is being miss allocated by central planners and huge property bubble is developing)

we should try to be more like Germany and thats how this country was in the 90s exporting things and services (and being alot more competitive than now, especially in wages) before we got carried away with credit and property


btw Japan while being an exporter also has the worst finances of all the countries and huge debt, im not sure why they not on that list at very bottom

ei.sdraob

...on Japan

this list only has the current account balance

while ignoring the huge "mortgages" that some of these countries have

Japan being the one to watch

now this list is quite interesting
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

halkar

ei.sdraob wrote: »

...

now this list is quite interesting
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

World fact book have latest on this..

:eek:

Iwasfrozen

ei.sdraob wrote: »

...on Japan

this list only has the current account balance

while ignoring the huge "mortgages" that some of these countries have

Japan being the one to watch

now this list is quite interesting
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

wow, secound higest per capita. just, wow.

dvpower

Iwasfrozen wrote: »

wow, secound higest per capita. just, wow.

It is a figure for all (both public and private) external debt. It seems like a bizarre figure, particularly since the figure is from June 2007, before our latest tranches of public borrowing.

I wonder how much is owed by Irish companies and individuals and how much is owed for foreign companies in Ireland (e.g. in the IFSC) and not something that we need to be too concerned about.

Edit: Here's a CSO breakdown of our debt

ei.sdraob

dvpower wrote: »

It is a figure for all (both public and private) external debt. It seems like a bizarre figure, particularly since the figure is from June 2007, before our latest tranches of public borrowing.

I wonder how much is owed by Irish companies and individuals and how much is owed for foreign companies in Ireland (e.g. in the IFSC) and not something that we need to be too concerned about.

Edit: Here's a CSO breakdown of our debt

€1,637,257,000,000 (as per link above) / 4,239,848 people (2006 CSO stat) = €386,159.36 per each person in this country

or

€1,637,257,000,000 (as per link above) / 2,203,000 employed persons (Apr 2009 CSO stat) = €743,194.28 per each employed (and presumably taxpaying) person in this country


:eek:

****!

Cool Mo D

But external debt is an irrelevant figure. It includes intangibles like the value of intellectual property held by Irish subsidiaries of multinationals.

For example, every copy of Windows sold in Europe is sold my Microsoft Europe, headquartered and paying tax in Ireland. The value of Windows IP (as valued currently) is on Microsoft Europe's balance as a debt to Microsoft in Redmond, Seattle. It likely accounts for many billion dollars of external debt, but is meaningless as far as Irish people's liabilities are concerned.

The only debt figures that matter are Irish government debt, Irish personal debt, and the liabilities of our banks covered by the bank guarantee. Forget about the rest.

ei.sdraob

Cool Mo D wrote: »

But external debt is an irrelevant figure. It includes the value of intellectual property held by Irish subsidiaries of multinationals.

For example, every copy of Windows sold in Europe is sold my Microsoft Europe, headquartered and paying tax in Ireland. The value of Windows IP (as valued currently) is on Microsoft Europe's balance as a debt to Microsoft in Redmond, Seattle. It likely accounts for many billion dollars of external debt, but is meaningless as far as Irish people's liabilities are concerned.

The only debt figures that matter are Irish government debt, Irish personal debt, and the liabilities of our banks covered by the bank guarantee. Forget about the rest.

those are good points and of course theres IFSC

theres a good threads on subject here > http://www.thepropertypin.com/viewtopic.php?f=19&t=17373

with a countdown site made based on figures


according to that its €38K per worker at the moment in direct debt taken on by our government and rising

dvpower

ei.sdraob wrote: »

:eek:

****!

Quite right too.


But presenting the debt as a per capita figure doesn't make sense if we aren't liable for repaying it (and if it is owed by foreign banks/companies not covered by any guarantees that we cannot, in the future, become liable for).

If we look at our public debt figures, things look a lot better (but getting worse).

dvpower

ei.sdraob wrote: »

€743,194.28 per each employed (and presumably taxpaying) person in this country

ei.sdraob wrote: »

... according to that its €38K per worker at the moment in direct debt taken on by our government and rising

I'm feeling a lot better now:)

ei.sdraob

dvpower wrote: »

I'm feeling a lot better now:)

thats €38K more than i like and rising quickly


€25 billion taken on last year to run the country

that added ~€6K to every man, woman and child (i dont know what figures to use for taxpayers) in country in one year alone