The Coming Sovereign Debt Default?–USA = Portugal, Ireland and Italy, Greece, Spain = PIGS?–Videos

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U.S Debt Clock Real Time

http://www.usdebtclock.org/

Sovereign Debt: The Next Crisis – Marc Faber

2/11/10 Marc Faber Discusses Global Financial Markets on Bloomberg

Glenn Beck Show 02-11-10 SEG. 1 of 5 FULL PROGRAM

Glenn Beck Show 02-11-10 SEG. 2 of 5 FULL PROGRAM

Glenn Beck Show 02-11-10 SEG. 3 of 5 FULL PROGRAM

Glenn Beck Show 02-11-10 SEG. 4 of 5 FULL PROGRAM

Glenn Beck Show 02-11-10 SEG. 5 of 5 FULL PROGRAM

Background Articles and Videos

2/10/10 Marc Faber talks Greece Bailouts on CNBC

Don’t Panic! The PIGS threaten Europe!

EUROPEAN PIGS

PIGS (economics)

“…PIGS is a ethnic slur^[1] ^[2] ^[1], routinely used by the British and North American economic press to refer to Mediterranean countries. It is purported to be an acronym representing four countries of southern Europe: Portugal, Italy, Greece, and Spain. Sometimes, Ireland is listed in addition to or in lieu of Italy.

Several news and economic organisations have denounced or banned the term.^[3]

The acronym was first used in 2008 by some British and North American journalists to refer to the Eurozone countries with lagging economic performance in the preceding few years.^[4]^[5] They were perceived as lacking fiscal discipline and often ran large current account deficits, leading to concerns about the stability of the euro currency.^[6] Additionally, they tend to suffer from high unemployment.^[7]

Shortly after being coined, an additional “I” was sometimes added to create the acronym “PIIGS”, with the additional letter referring to Ireland.^[8] ^[9]^[10] Some Italian banks (such as Unicredit) have suggested that Italy be replaced with Ireland in the original four letter acronym, and American commentator Pat Buchanan did so in a February 2010 column.^[11] According to Eric Nielsen, chief European economist at Goldman Sachs Group Inc. in London, “Italy is in a more comfortable position than the other Southern European countries because of a stronger balance sheet.”^{[12] …”}

http://en.wikipedia.org/wiki/PIGS_(economics)

Total National Debt
Fiscal Years 1900 to 2014
Year	GDP-US $ billion	Gross Public Debt-total pct GDP
1900	20.6	10.37
1901	22.3	9.61
1902	24.1	17.70
1903	25.9	17.20
1904	25.7	18.18
1905	28.8	16.85
1906	31	16.43
1907	33.9	15.94
1908	30.1	19.20
1909	32.2	18.67
1910	33.4	18.74
1911	34.3	19.31
1912	37.4	18.70
1913	39.1	18.75
1914	36.5	21.23
1915	38.7	21.61
1916	49.6	19.00
1917	59.7	20.25
1918	75.8	28.47
1919	78.3	44.77
1920	88.4	38.86
1921	73.6	45.10
1922	73.4	45.06
1923	85.4	38.96
1924	86.9	38.03
1925	90.6	36.71
1926	96.9	34.48
1927	95.5	34.97
1928	97.4	34.15
1929	103.6	32.25
1930	91.2	36.76
1931	76.5	45.81
1932	58.7	65.91
1933	56.4	73.77
1934	66	69.67
1935	73.3	65.35
1936	83.8	63.55
1937	91.9	60.81
1938	86.1	65.74
1939	92.2	65.40
1940	101.4	62.38
1941	126.7	54.28
1942	161.9	56.68
1943	198.6	78.10
1944	219.8	99.40
1945	223.1	123.46
1946	222.3	128.40
1947	244.2	112.87
1948	269.1	100.69
1949	267.3	102.56
1950	293.8	95.80
1951	339.3	83.21
1952	358.3	80.72
1953	379.3	79.05
1954	380.4	81.54
1955	414.8	76.82
1956	437.4	73.53
1957	461.1	70.17
1958	467.2	71.60
1959	506.6	68.85
1960	526.4	67.68
1961	544.7	66.82
1962	585.6	64.72
1963	617.7	63.29
1964	663.6	60.87
1965	719.1	57.96
1966	787.7	54.20
1967	832.6	52.83
1968	909.8	51.52
1969	984.4	49.50
1970	1038.3	49.55
1971	1126.8	49.44
1972	1237.9	48.57
1973	1382.7	46.73
1974	1499.5	45.42
1975	1637.7	45.99
1976	1825.3	47.19
1977	2030.9	47.16
1978	2294.7	45.87
1979	2562.2	44.12
1980	2789.5	44.59
1981	3128.4	43.53
1982	3253.2	47.52
1983	3534.6	51.81
1984	3933.2	52.81
1985	4220.3	56.68
1986	4462.8	62.39
1987	4739.5	64.75
1988	5100.4	65.83
1989	5484.4	66.67
1990	5803.1	70.54
1991	5992.1	76.46
1992	6337.7	79.53
1993	6667.4	81.38
1994	7085.2	81.40
1995	7397.7	80.89
1996	7816.9	80.32
1997	8332.4	79.62
1998	8679.66	78.46
1999	9201.14	76.35
2000	9951.5	71.61
2001	10286.2	71.57
2002	10398.4	74.69
2003	11142.1	77.15
2004	11607	80.39
2005	12638.4	79.27
2006	13090.8	81.80
2007	14077.6	81.10
2008	14441.4	87.52
2009	14237.2	103.86
2010	14623.9	116.14
2011	15299	121.96
2012	16203.3	124.67
2013	17182.2	126.34
2014	18192.6	127.62