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Currently 1 Response

  • 1.
  • The article, however well written, is accompanied by a chart that is full of misleading, if not completely inaccurate, information. The total Debt per person in the USA may be $48,000, however, all of the other figures are incorrect due to a simple math error. In order to determine the "per person debt" of each country the following equation must be used - Total Country Debt / Total Country Population = Debt / Person. It appears that per capita figures in the chart were generated by dividing by the population in the US which would only apply to the US per capita debt equation. The per capita Ireland debt needs to be calculated using the Ireland population, not the population of the US. For Ireland, the new equation is as follows - $2,378x10^9 / 4,481,430 = $519,070 per capita! Much higher than the $40,000 listed in the published chart. You can find a link to the accurate data here - http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

    This correction is important.

    Sincerely,

    Adam Nemastil
  •  
  • Adam Nemastil
    Fri 27th Apr 2012
    at 1:35pm
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