IMF: World Banks Face $3.6 Trillion “Wall” of Maturing Debt…
Apocalypse now?
Via Menzies House:
The world’s banks face a $3.6 trillion “wall of maturing debt” in the next two years and must compete with debt-laden governments to secure financing, the IMF (has) warned.
Japan and the United States face the largest public debt rollovers of any advanced economy at 56 percent and 29 percent of gross domestic product, respectively. . . .
So between the World’s banks, USA and Japan, we’re looking at a staggering figure of $10.533 Trillion or $10,533,000,000,000 to refinance.
Too get an idea just how big a number that really is, instead of cash owed think of the number in seconds. 10.533 Trillion Seconds = 333,999.24 years or 3,339.99 Centuries.
It will probably take them that long to pay it off. Like I said, it is a staggering amount of cash owed.
HT: Gramfan
Posted by ZIP on Wednesday, April 13, 2011, at 10:59 pm | 
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IMF is $3.6 Trillion in maturing debt? No problem; just hop a plane to DC – Harry and Obongo will be more than happy to write you a big, fat, greasy check on skin from the small of the taxpayer’s backs.
All we need are the flesh-eating zombies …
Commodities? Gold? Ahh, it’s just a bubble!
It’s those nutty goldbugs again! What do they know?
Maybe Ben Bernanke will bail them out and send us the bill.
WTF…
As an economist, I have been opposed to the IMF doling out our money (we fund it) in order to fund austerity measures that really won’t work. Does anyone seriously think the money gets spend where it’s supposed to? Most of those countries need top to bottom enema instead of global redistribution schemes that cause more harm than good.
It’s ain’t pretty.
http://www.economist.com/content/global_debt_clock
The Great Depression of the 1930s was a walk in the park.
You’d better be on guard for your boy in the White House and his pointy-eared Treasury elf… confiscating everyone’s gold.
Trust me on this.
April 19, 1933 – America goes off the Gold Standard
January 30, 1934 – Private possession of gold declared illegal except for jewelry, artwork, and industrial uses.
While we’re doing reality checks, it might sound like a good idea to shut down the government over economic/social principles, but no other country on earth does this. To them, it just looks like you can’t organize an annual budget. And an explanation that it was because of planned parenthood which accounts for a rounded amount of 0.00% of your budget makes you look like an even bigger target for ratings revisions. This is a road you don’t want to start down.
It might be worth remembering when it comes time to brawl over the debt ceiling, just what your military would look like if it was in the same shape your economy is in….. and whether picking a fight with China would be a good idea at that point.
Keep plenty of silver on hand. It would be hard for the government to confiscate it.
Aye-aye, matey! What Jimco said.
Better Contact Bono – he will place a call with his Master Satan to forgive the debt!!
Can we change debt with them? Shit that was like 7 years into Bush and before Kind Of The Flaws came into office.
I would take it over ours anyday right now.