http://www.gfmag.com/tools/global-database/economic-data/10403-total-debt-to-gdp.html#axzz1ZollYTTS

is the link to the above data.  The data tabulates (cumulative debts/GDP in year 2009), accumulated from year 1980.  In these plots, cumulative government debt, also in the form of the same ratio, is separated from the total debt which is normally discussed as lumped together in mainstream media. This ratio is replotted separating the government debt from other debts.

Deficits

This is figure 1. It is a plot of ‘government debt’ vs. (non_financial_business debt + household debt +financial_business debt). The growing economies which don’t talk about ‘unsustainable_level ‘ debt are seen to define a line near India, Brazil, Italy and Japan. Countries with high unemployment like UK, USA and Spain have low government_debt.

Figure 2, plotted above, is a plot excluding the financial_industry debt. The character of this plot is similar except the debts and deficits are of the same order. Note that government debt in a given year is the source of surplus in the  private sector. The plot shows government debt and private debt keep in step cumulatively. All the cumulative private sector debts have produced cumulative wealth, like houses, factories and other business  enterprises.

Adding financial debt (in figure 1)  makes the plots look more dismal, perhaps, indicating the non-productive feature of the financial industry.

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