Castles in the Air
The problem with the debt levels of modern omni-competent pretender governments is that they become so big no-one can actually conceive of the amount of money owed. It becomes an abstract, meaningless number. Therefore, everyone just tends to shrug their shoulders and carry on. Like infinity, it cannot be calculated--yet it becomes strangely meaningful in the end. National debt does not affect the man-in-the-street--until it does--and by then it is too late. The end of life as they knew it will be at hand.
The end occurs when governments cannot pay back their impossible debts, or when they attempt to do so, and the people revolt. Default or revolt: they are the two most likely outcomes when government runs out of other people's money. Welcome to Greece (and Spain, Portugal, Ireland, Italy, the UK and the United States).
Here is a visual presentation seeking to get the quantum of Greek debt across to the average Joe. It also summarises who has lent the money becoming creditors to the Greek nation and people. Stupid institutions; stupid people. Stupid us.
Greek Debt
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