Sharky:

It is possible that the world wide debt burden is even more dire than we know. As an example, we now know that Greece had been concealing debt which they actually had. Therefore, actual Greek public debt was much higher than reported. Question, how many other European Union Nations have been less than honest regarding the extent of their debt. Larger nations such as Spain, Britain, Portugal, Ireland, etc. Not to mention the US which has a balance sheet just as bad as some of the previouly listed Nations. Indeeed, I am aware that the US is playing games to not have to recognize some of its indebtedness by keeping it off their books. Similarly, I have been hearing that Belgium is not as pristine with its balance sheet as we might all like. The hidden public debts which apparently exist, could come back to bite us in that well known but embarriassing spot on the anatomy!

Brian