Cubefield Game

Dear Client, European debt woes dominate the news. But excessive debt is a global phenomenon. Most developed countries over borrowed in recent decades. In the U.S., federal debt soared from an amount equal to 45% of GDP in 1989 to 69% this year. Japan went from 14% to 106%. The U.K., from 30% to 75%. And those figures don't take into account other liabilities, such as state and local debt and future obligations...funds needed for pensions for citizens and civil servants or IOUs to the Social Security Trust Fund, for example. Read the rest of this entry »