Since the various governments started applying 'fixes' to sort out their finances, whether via austerity, or quantative easing (money printing - QE) the national debt of Italy has increased by $360bn, Japan's rose by $1.1trn and the US increased by $2trn. This is not the total debt but the increase on the debt!
Italy's deficit is 4.5% of GDP; in the US the deficit is 11% of GDP. Italy's total debt is 120% of GDP.
As Bill Bonner put it in Moneyweek:
"The bigger the pile of debt gets, the more it stinks. Last week, investors began to notice a bad smell coming from Italy the world's third largest debtor - Japan and the US have a total debt of $26trn between them."
