You would have thought after the austerity fad that has swept the globe since the 2008 crash, we would finally have a handle on debt but a look at the list of countries debts shows that nations owe over £60 Trillion to each other and just one nation owes almost a third of that.
The United States is the worst offender and in the hole to the tune of $18,772,300,000,000 ($18.7 Trillion) or 103% of what the country brings in.
Second worst off is France which owes £5.7 Trillion then Germany £5.5 Trillion, Japan £2.8T, Italy £2.6T, Netherlands £2.5T, Spain £2.3T, China £1.6T, Switzerland £1.6T and the UK £1.5T.
Such is the state of the global finances that there are only 5 countries who have been able to avoid this economic insanity of debt and live within their means.
Macoa, the British Virgin Islands, Bruniei, Lichenstein and Palau are the only countries that bring in more than they spend.
With such huge levels of debt i can't see how countries are ever going to get out of the red and into the black, Iceland's debt is equal to £282,930 per head of population while each person in The Netherlands would need to find £226,503 each to clear the nations debts which is a lot of daffodils and tulips so i can't see these debts being cleared anytime soon.
As for the UK, we each would need to find £23,240 each and that is after the Conservative Government have hacked and slashed whatever is hackable and slashable and still we need to find another £1.5 Trillion in savings so i don't know what the answer is but surely at some point nations will begin thinking how we do things at the moment isn't working and look for other ways of doing things.