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A super power no more


savwboy9
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This is a list of countries and territories by current account balance (CAB), based on the International Monetary Fund data for 2007, obtained from the latest World Economic Outlook database (October 2008).[4] Numbers for 2008 should become available in April 2009. Estimates are highlighted.

We are spending ourselves out of relevance

Notice where the good ole USA is at..

Rank Country CAB USD, bn

1 China 371.833

2 Germany 252.501

3 Japan 210.967

4 Saudi Arabia 95.762

5 Russia 76.163

6 Switzerland 70.797

7 Norway 59.983

8 Netherlands 52.522

9 Kuwait 48.039

10 Singapore 39.157

11 United Arab Emirates 39.113

12 Sweden 38.797

13 Taiwan 32.979

14 Algeria 30.600

15 Malaysia 29.181

16 Iran 28.776

17 Hong Kong 28.038

18 Libya 23.786

19 Qatar 21.374

20 Venezuela 20.001

21 Thailand 15.765

22 Canada 12.726

23 Austria 12.012

24 Finland 11.268

25 Argentina 11.072

26 Indonesia 11.010

27 Belgium 9.648

28 Azerbaijan 9.019

29 Chile 7.200

30 Angola 6.936

31 Philippines 6.351

32 Brunei 5.990

33 South Korea 5.954

34 Trinidad and Tobago 5.380

35 Israel 5.197

36 Luxembourg 4.893

37 Uzbekistan 4.267

38 Turkmenistan 4.037

39 Denmark 3.512

40 Nigeria 3.466

41 Oman 3.222

42 Bahrain 2.906

43 Botswana 1.974

44 Egypt 1.862

45 Bolivia 1.741

46 Gabon 1.719

47 Brazil 1.712

48 Peru 1.515

49 Namibia 1.356

50 Timor-Leste 1.161

51 Ecuador 1.064

52 Myanmar 0.917

53 Bangladesh 0.780

54 Equatorial Guinea 0.541

55 Papua New Guinea 0.259

56 Paraguay 0.227

57 Bhutan 0.132

58 Chad 0.116

59 Mongolia 0.098

60 Afghanistan 0.081

61 Suriname 0.071

62 Lesotho 0.058

63 Nepal 0.050

64 Kyrgyzstan -0.006

65 Guinea-Bissau -0.008

66 Solomon Islands -0.010

67 Kiribati -0.021

68 Tonga -0.025

69 Samoa -0.029

70 Comoros -0.031

71 Swaziland -0.041

72 São Tomé and Príncipe -0.044

73 Eritrea -0.049

74 Vanuatu -0.049

75 Belize -0.054

76 Sierra Leone -0.063

77 Haiti -0.066

78 Malawi -0.074

79 Central African Republic -0.075

80 Dominica -0.079

81 Gambia -0.080

82 Guinea -0.083

83 Morocco -0.099

84 Cape Verde -0.132

85 Liberia -0.137

86 Côte d'Ivoire -0.146

87 Saint Vincent and the Grenadines -0.147

88 Saint Kitts and Nevis -0.150

89 Burundi -0.156

90 Togo -0.160

91 Zimbabwe -0.165

92 Rwanda -0.168

93 Uruguay -0.186

94 Democratic Republic of the Congo -0.191

95 Guyana -0.195

96 Grenada -0.197

97 Antigua and Barbuda -0.211

98 Djibouti -0.211

99 Macedonia -0.234

100 Barbados -0.245

101 Seychelles -0.263

102 Saint Lucia -0.280

103 Cambodia -0.313

104 Niger -0.321

105 Mauritania -0.321

106 Uganda -0.331

107 Benin -0.372

108 Cameroon -0.383

109 Malta -0.403

110 Tajikistan -0.414

111 Maldives -0.476

112 Mali -0.502

113 Fiji -0.515

114 Mauritius -0.553

115 Burkina Faso -0.560

116 Syria -0.561

117 Armenia -0.591

118 Laos -0.711

119 Moldova -0.747

120 Mozambique -0.768

121 Zambia -0.810

122 Kenya -0.825

123 Ethiopia -0.868

124 Tunisia -0.925

125 Albania -0.994

126 Nicaragua -1.047

127 Madagascar -1.070

128 El Salvador -1.119

129 Senegal -1.161

130 Honduras -1.228

131 Yemen -1.328

132 Sri Lanka -1.370

133 Montenegro -1.381

134 Bahamas -1.440

135 Republic of the Congo -1.479

136 Tanzania -1.496

137 Costa Rica -1.519

138 Panama -1.571

139 Ghana -1.652

140 Guatemala -1.685

141 Jamaica -1.850

142 Bosnia and Herzegovina -1.920

143 Georgia -2.045

144 Cyprus -2.063

145 Dominican Republic -2.231

146 Slovenia -2.250

147 Jordan -2.778

148 Iceland -2.952

149 Belarus -3.060

150 Czech Republic -3.085

151 Lebanon -3.129

152 Estonia -3.776

153 Slovakia -4.070

154 Croatia -4.410

155 Ukraine -5.272

156 Lithuania -5.692

157 Sudan -5.812

158 Mexico -5.813

159 Colombia -5.862

160 Latvia -6.231

161 Serbia -6.334

162 Pakistan -6.878

163 Hungary -6.932

164 Vietnam -6.992

165 Kazakhstan -7.184

166 Bulgaria -8.464

167 New Zealand -10.557

168 Ireland -14.120

169 India -15.494

170 Poland -15.905

171 South Africa -20.557

172 Portugal -21.987

173 Romania -23.234

174 France -30.588

175 Turkey -37.684

176 Greece -44.218

177 Italy -52.725

178 Australia -56.342

179 United Kingdom -105.224

180 Spain -145.141

181 United States -731.214

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Except that the US produces double the GDP of any other nation in any given year and more than the next three nations combined.

I agree that the government spends WAY too much money and that, as a nation, we rely too heavily on credit. The best thing that can come out of the current crisis is for individuals to learn the importance of not over leveraging. Credit is a valuable tool, but also a dangerous weapon in the wrong hands. The government is the wrong hands and I have serious issues with the level of deficiet spending that has been snowballing in recent history.

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