Everyone got used to the largest officially announced U.S. national debt of 16 trillion dollars. Moreover, despite the dire predictions, the global economy seems to be more or less stable, and recently liberal media have been happily reporting GDP growth in the United States and the European Union. However, it is not all that great. Let’s start with statistics. A number of researchers have conducted... 

Japan’s national debt exceeded 1,000 trillion yen, or $10.46 trillion, for the first time. It’s now well above 200% of the country’s GDP and is larger than that of Germany, France and the UK combined. Japan has increased borrowing this year to spend more on the country’s infrastructure as part of an ambitious program of economic stimulus aimed at ending 20 years of stagnation and falling... 

Europe plunged into financial crisis in early 2008. Official data show the collective debt in the eurozone has hit a new record high of 92.2 percent in first quarter of 2013, as the 17-nation bloc continues to grapple with a worsening financial crisis. The data released by Eurostat, the EU’s statistics office, on Monday showed that government debt as a share of the total annual GDP of the eurozone... 

Italy’s economy shrinks more than previously estimated in the first quarter of 2013. Italy’s economy has contracted more than initially estimated in the first quarter of 2013, marking the seventh quarterly contraction in a row, the country’s statistical agency says. Figures from the national statistical agency, Istat, showed on Monday that Italy’s gross domestic product (GDP) shrank by... 

The International Monetary Fund (IMF) has issued Argentina with a ‘declaration of censure’ for providing inaccurate inflation and GDP data and has given it until September 29th to amend the problems or will impose sanctions. The IMF Friday called on Argentina to fix its statistics “without further delay” “The fund has issued a declaration of censure against Argentina in connection... 

Spainards protesting against austerity cuts on November 15, 2012. While Spanish Prime Minister is set to present new measures to help the economic recovery, the National Statistics Institute (INE) has reported that the country’s gross national product (GDP) has contracted by 1.37 percent in 2012. According to the report released by the INE on Wednesday, the Spanish GNP fell 0.7% from the third quarter... 

In just five years, China surpassed the US as leading a trading partner in the world. With 124 countries considering China their largest trading partner and only 76 having that relationship with the US, the Asian country’s influence is on the rise. In 2006, the US was the larger trading partner for 127 countries, while China dominated among 70. In 2011, the numbers reversed, with China dominating... 

The public sector debt in France soared to over 90 percent of the GDP in the second quarter of 2012. New figures show that France’s public sector debt soared to over 90 percent of the crisis-hit country’s gross domestic product (GDP) in the second quarter of 2012. According to official figures released by France’s National Statistics Institute (INSEE) on Friday, the debt has increased by 43.2... 

The Egan-Jones agency has downgraded the US credit rating for the second time to AA as debt to GDP surpasses the 100 percent mark and is worsening. Press TV has interviewed Allen Roland, freelance alternative press online columnist in Sonoma California about the latest down grade adjustment to the US economy; how the administration is performing their duty to accurately inform Americans; and how this... 

Recession continues in Europe and Japan. The USA remains in the state of political uncertainty on the threshold of presidential election. What about the Green Continent, Australia? Lost between two oceans, Australia was increasing its economic potential while the northern hemisphere was suffering from the consequences of economic and financial storms. Australia managed to double its GDP from 1998... 

A self-made euro sign is attached to the tip of a christmas tree in front of the European Central Bank (ECB) in Frankfurt am Main, western Germany. European Commission has predicted that the eurozone currency bloc faces a deeper recession than previously anticipated, with a 0.3 percent contraction in its GDP now tipped for 2012. The commission previous forecast in November said the economic output... 

The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup. “We expect strong growth in the world economy until 2050, with average real GDP growth rates of 4.6 percent per annum until 2030 and 3.8 percent per annum between 2030 and 2050,” Buiter wrote in a market research. “As... 

President Obama‘s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy. Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly... 

The Congressional Budget Office (CBO) forecasts the U.S. budget deficit will hit $1.3 trillion this year. An astronomical figure, to be sure, but that’s lower than was projected in March. It’s also less than last year’s record $1.41 trillion deficit, which was close to 10% of GDP. And, that’s the good news. As the deficit grows so does the national debt, which is currently more than... 

Saying “I told you so” isn’t always a sign of bad manners – not when good news is involved. Well, I did tell you to expect this: China has now raced past Japan to become the world’s number two economy. Just last Christmas I wrote that China would blow past the Chinese economy this year. And so it has. Yi Gang, China’s top currency regulator, says China has “in...