{"id":358187,"date":"2010-02-24T12:28:00","date_gmt":"2010-02-24T17:28:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/chart-of-the-day-sovereign-external-debt-1800-2006-2010-2"},"modified":"2010-02-24T12:28:00","modified_gmt":"2010-02-24T17:28:00","slug":"chart-of-the-day-history-shows-why-another-sovereign-debt-crisis-is-right-around-the-corner","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/358187","title":{"rendered":"CHART OF THE DAY: History Shows Why Another Sovereign Debt Crisis Is Right Around The Corner"},"content":{"rendered":"<div style=\"float: right; margin: 15px 0 20px 20px;\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td colspan=\"2\"><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day\"> <img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4a32b8394b543722009a9671\" border=\"0\" alt=\"button more charts\" \/><\/a><\/td>\n<\/tr>\n<tr>\n<td><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4a32b8424b543722009a967a\" border=\"0\" alt=\"button chart prev\" \/><\/a><\/td>\n<td><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day-wall-street-bonuses-vs-bank-lending-2010-2\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4a32b84d4b543722009a9685\" border=\"0\" alt=\"button chart next\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><div style=\"float: left; padding: 15px 15px 15px 0;\">\n<script type=\"text\/javascript\">\/\/ <![CDATA[\ntweetmeme_source = 'clusterstock'; tweetmeme_service = 'bit.ly';\n\/\/ ]]><\/script><br \/>\n<script src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\" type=\"text\/javascript\"><\/script>\n<\/div>\n<p>This chart from Gerard Minack at Morgan Stanley, inspired by the research of Harvard professor Ken Rogoff, shows how, surprisingly, sovereign debt crises are pretty common from a historical perspective.<\/p>\n<p>The developed world has gone through many cycles of debt accumulation followed by sharp and sudden corrections of debt imbalances via sovereign debt crises of some form as shown below. The blue line indicates the percentage of nations either in default or restructuring their debt each year. You can see that individual national crises tend to clump together and happen in waves. The last wave was around 1990, while the 2000&#8217;s were characterized by a lull in overt sovereign debt problems.<\/p>\n<p>Which means that a new wave of sovereign debt defaults could be just around the corner and would be perfectly normal historically speaking; since as Morgan Stanley said in their recent related report, &#8216;this time will probably <em>not<\/em> be different.&#8217;<\/p>\n<p><img decoding=\"async\" class=\"chartOfTheDay\" src=\"http:\/\/static.businessinsider.com\/image\/4b855e6300000000002dd9ae\/chart-of-the-day-sovereign-external-debt-1800-2006.gif\" border=\"0\" alt=\"chart of the day, Sovereign External Debt, 1800-2006\" \/><\/p>\n<hr \/>\n<h3>Get This Delivered To Your Inbox<\/h3>\n<p>You can get this dropped in your inbox every afternoon as <strong>The Chart Of The Day<\/strong>. It&#8217;s a simple. It&#8217;s convenient. It&#8217;s free. All we need is your email address, country and postal code.&nbsp; Sign up below!<\/p>\n<form id=\"form_form\" action=\"http:\/\/feedproxy.google.com\/newsletter\" method=\"post\">\n<div class=\"checkboxes\"><a name=\"fa_newsletters\"><\/a><\/p>\n<div class=\"row f_newsletters checkboxgroup required\"><input checked=\"checked\" name=\"newsletters[]\" type=\"hidden\" value=\"Clusterstock Chart Of The Day\" \/><\/div>\n<\/div>\n<div class=\"fields-newsletter\"><a name=\"fa_email\"><\/a><\/p>\n<div class=\"row f_email text required\"><label for=\"f_email\">Email<\/label><input id=\"f_email\" name=\"email\" size=\"40\" type=\"text\" \/><span class=\"msg\"><span>&nbsp;<\/span><\/span><\/div>\n<p><a name=\"fa_country\"><\/a><\/p>\n<div class=\"row f_country select error required\"><label for=\"f_country\">Country<\/label><select id=\"f_country\" name=\"country\"><option value=\"US\">United States<\/option><option value=\"AF\">Afghanistan<\/option><option value=\"AX\">Aland Islands<\/option><option value=\"AL\">Albania<\/option><option value=\"DZ\">Algeria<\/option><option value=\"AS\">American Samoa<\/option><option value=\"AD\">Andorra<\/option><option value=\"AO\">Angola<\/option><option value=\"AI\">Anguilla<\/option><option value=\"AQ\">Antarctica<\/option><option value=\"AG\">Antigua And Barbuda<\/option><option value=\"AR\">Argentina<\/option><option value=\"AM\">Armenia<\/option><option value=\"AW\">Aruba<\/option><option value=\"AU\">Australia<\/option><option value=\"AT\">Austria<\/option><option value=\"AZ\">Azerbaijan<\/option><option value=\"BS\">Bahamas<\/option><option value=\"BH\">Bahrain<\/option><option value=\"BD\">Bangladesh<\/option><option value=\"BB\">Barbados<\/option><option value=\"BY\">Belarus<\/option><option value=\"BE\">Belgium<\/option><option value=\"BZ\">Belize<\/option><option value=\"BJ\">Benin<\/option><option value=\"BM\">Bermuda<\/option><option value=\"BT\">Bhutan<\/option><option value=\"BO\">Bolivia, Plurinational State Of<\/option><option value=\"BA\">Bosnia And Herzegovina<\/option><option value=\"BW\">Botswana<\/option><option value=\"BV\">Bouvet Island<\/option><option value=\"BR\">Brazil<\/option><option value=\"IO\">British Indian Ocean Territory<\/option><option value=\"BN\">Brunei Darussalam<\/option><option value=\"BG\">Bulgaria<\/option><option value=\"BF\">Burkina Faso<\/option><option value=\"BI\">Burundi<\/option><option value=\"KH\">Cambodia<\/option><option value=\"CM\">Cameroon<\/option><option value=\"CA\">Canada<\/option><option value=\"CV\">Cape Verde<\/option><option value=\"KY\">Cayman Islands<\/option><option value=\"CF\">Central African Republic<\/option><option value=\"TD\">Chad<\/option><option value=\"CL\">Chile<\/option><option value=\"CN\">China<\/option><option value=\"CX\">Christmas Island<\/option><option value=\"CC\">Cocos (keeling) Islands<\/option><option value=\"CO\">Colombia<\/option><option value=\"KM\">Comoros<\/option><option value=\"CG\">Congo<\/option><option value=\"CD\">Congo, The Democratic Republic Of The<\/option><option value=\"CK\">Cook Islands<\/option><option value=\"CR\">Costa Rica<\/option><option value=\"CI\">Cote D&#8217;ivoire<\/option><option value=\"HR\">Croatia<\/option><option value=\"CU\">Cuba<\/option><option value=\"CY\">Cyprus<\/option><option value=\"CZ\">Czech Republic<\/option><option value=\"DK\">Denmark<\/option><option value=\"DJ\">Djibouti<\/option><option value=\"DM\">Dominica<\/option><option value=\"DO\">Dominican Republic<\/option><option value=\"EC\">Ecuador<\/option><option value=\"EG\">Egypt<\/option><option value=\"SV\">El Salvador<\/option><option value=\"GQ\">Equatorial Guinea<\/option><option value=\"ER\">Eritrea<\/option><option value=\"EE\">Estonia<\/option><option value=\"ET\">Ethiopia<\/option><option value=\"FK\">Falkland Islands (malvinas)<\/option><option value=\"FO\">Faroe Islands<\/option><option value=\"FJ\">Fiji<\/option><option value=\"FI\">Finland<\/option><option value=\"FR\">France<\/option><option value=\"GF\">French Guiana<\/option><option value=\"PF\">French Polynesia<\/option><option value=\"TF\">French Southern Territories<\/option><option value=\"GA\">Gabon<\/option><option value=\"GM\">Gambia<\/option><option value=\"GE\">Georgia<\/option><option value=\"DE\">Germany<\/option><option value=\"GH\">Ghana<\/option><option value=\"GI\">Gibraltar<\/option><option value=\"GR\">Greece<\/option><option value=\"GL\">Greenland<\/option><option value=\"GD\">Grenada<\/option><option value=\"GP\">Guadeloupe<\/option><option value=\"GU\">Guam<\/option><option value=\"GT\">Guatemala<\/option><option value=\"GG\">Guernsey<\/option><option value=\"GN\">Guinea<\/option><option value=\"GW\">Guinea-bissau<\/option><option value=\"GY\">Guyana<\/option><option value=\"HT\">Haiti<\/option><option value=\"HM\">Heard Island And Mcdonald Islands<\/option><option value=\"VA\">Holy See (vatican City State)<\/option><option value=\"HN\">Honduras<\/option><option value=\"HK\">Hong Kong<\/option><option value=\"HU\">Hungary<\/option><option value=\"IS\">Iceland<\/option><option value=\"IN\">India<\/option><option value=\"ID\">Indonesia<\/option><option value=\"IR\">Iran, Islamic Republic Of<\/option><option value=\"IQ\">Iraq<\/option><option value=\"IE\">Ireland<\/option><option value=\"IM\">Isle Of Man<\/option><option value=\"IL\">Israel<\/option><option value=\"IT\">Italy<\/option><option value=\"JM\">Jamaica<\/option><option value=\"JP\">Japan<\/option><option value=\"JE\">Jersey<\/option><option value=\"JO\">Jordan<\/option><option value=\"KZ\">Kazakhstan<\/option><option value=\"KE\">Kenya<\/option><option value=\"KI\">Kiribati<\/option><option value=\"KP\">Korea, Democratic People&#8217;s Republic Of<\/option><option value=\"KR\">Korea, Republic Of<\/option><option value=\"KW\">Kuwait<\/option><option value=\"KG\">Kyrgyzstan<\/option><option value=\"LA\">Lao People&#8217;s Democratic Republic<\/option><option value=\"LV\">Latvia<\/option><option value=\"LB\">Lebanon<\/option><option value=\"LS\">Lesotho<\/option><option value=\"LR\">Liberia<\/option><option value=\"LY\">Libyan Arab Jamahiriya<\/option><option value=\"LI\">Liechtenstein<\/option><option value=\"LT\">Lithuania<\/option><option value=\"LU\">Luxembourg<\/option><option value=\"MO\">Macao<\/option><option value=\"MK\">Macedonia<\/option><option value=\"MG\">Madagascar<\/option><option value=\"MW\">Malawi<\/option><option value=\"MY\">Malaysia<\/option><option value=\"MV\">Maldives<\/option><option value=\"ML\">Mali<\/option><option value=\"MT\">Malta<\/option><option value=\"MH\">Marshall Islands<\/option><option value=\"MQ\">Martinique<\/option><option value=\"MR\">Mauritania<\/option><option value=\"MU\">Mauritius<\/option><option value=\"YT\">Mayotte<\/option><option value=\"MX\">Mexico<\/option><option value=\"FM\">Micronesia, Federated States Of<\/option><option value=\"MD\">Moldova, Republic Of<\/option><option value=\"MC\">Monaco<\/option><option value=\"MN\">Mongolia<\/option><option value=\"ME\">Montenegro<\/option><option value=\"MS\">Montserrat<\/option><option value=\"MA\">Morocco<\/option><option value=\"MZ\">Mozambique<\/option><option value=\"MM\">Myanmar<\/option><option value=\"NA\">Namibia<\/option><option value=\"NR\">Nauru<\/option><option value=\"NP\">Nepal<\/option><option value=\"NL\">Netherlands<\/option><option value=\"AN\">Netherlands Antilles<\/option><option value=\"NC\">New Caledonia<\/option><option value=\"NZ\">New Zealand<\/option><option value=\"NI\">Nicaragua<\/option><option value=\"NE\">Niger<\/option><option value=\"NG\">Nigeria<\/option><option value=\"NU\">Niue<\/option><option value=\"NF\">Norfolk Island<\/option><option value=\"MP\">Northern Mariana Islands<\/option><option value=\"NO\">Norway<\/option><option value=\"OM\">Oman<\/option><option value=\"PK\">Pakistan<\/option><option value=\"PW\">Palau<\/option><option value=\"PS\">Palestinian Territory, Occupied<\/option><option value=\"PA\">Panama<\/option><option value=\"PG\">Papua New Guinea<\/option><option value=\"PY\">Paraguay<\/option><option value=\"PE\">Peru<\/option><option value=\"PH\">Philippines<\/option><option value=\"PN\">Pitcairn<\/option><option value=\"PL\">Poland<\/option><option value=\"PT\">Portugal<\/option><option value=\"PR\">Puerto Rico<\/option><option value=\"QA\">Qatar<\/option><option value=\"RE\">Reunion<\/option><option value=\"RO\">Romania<\/option><option value=\"RU\">Russian Federation<\/option><option value=\"RW\">Rwanda<\/option><option value=\"BL\">Saint Barthelemy<\/option><option value=\"SH\">Saint Helena<\/option><option value=\"KN\">Saint Kitts And Nevis<\/option><option value=\"LC\">Saint Lucia<\/option><option value=\"MF\">Saint Martin<\/option><option value=\"PM\">Saint Pierre And Miquelon<\/option><option value=\"VC\">Saint Vincent And The Grenadines<\/option><option value=\"WS\">Samoa<\/option><option value=\"SM\">San Marino<\/option><option value=\"ST\">Sao Tome And Principe<\/option><option value=\"SA\">Saudi Arabia<\/option><option value=\"SN\">Senegal<\/option><option value=\"RS\">Serbia<\/option><option value=\"SC\">Seychelles<\/option><option value=\"SL\">Sierra Leone<\/option><option value=\"SG\">Singapore<\/option><option value=\"SK\">Slovakia<\/option><option value=\"SI\">Slovenia<\/option><option value=\"SB\">Solomon Islands<\/option><option value=\"SO\">Somalia<\/option><option value=\"ZA\">South Africa<\/option><option value=\"GS\">South Georgia And South Sandwich Islands<\/option><option value=\"ES\">Spain<\/option><option value=\"LK\">Sri Lanka<\/option><option value=\"SD\">Sudan<\/option><option value=\"SR\">Suriname<\/option><option value=\"SJ\">Svalbard And Jan Mayen<\/option><option value=\"SZ\">Swaziland<\/option><option value=\"SE\">Sweden<\/option><option value=\"CH\">Switzerland<\/option><option value=\"SY\">Syrian Arab Republic<\/option><option value=\"TW\">Taiwan, Province Of China<\/option><option value=\"TJ\">Tajikistan<\/option><option value=\"TZ\">Tanzania, United Republic Of<\/option><option value=\"TH\">Thailand<\/option><option value=\"TL\">Timor-leste<\/option><option value=\"TG\">Togo<\/option><option value=\"TK\">Tokelau<\/option><option value=\"TO\">Tonga<\/option><option value=\"TT\">Trinidad And Tobago<\/option><option value=\"TN\">Tunisia<\/option><option value=\"TR\">Turkey<\/option><option value=\"TM\">Turkmenistan<\/option><option value=\"TC\">Turks And Caicos Islands<\/option><option value=\"TV\">Tuvalu<\/option><option value=\"UG\">Uganda<\/option><option value=\"UA\">Ukraine<\/option><option value=\"AE\">United Arab Emirates<\/option><option value=\"GB\">United Kingdom<\/option><option value=\"UM\">United States Minor Outlying Islands<\/option><option value=\"UY\">Uruguay<\/option><option value=\"UZ\">Uzbekistan<\/option><option value=\"VU\">Vanuatu<\/option><option value=\"VE\">Venezuela, Bolivarian Republic Of<\/option><option value=\"VN\">Viet Nam<\/option><option value=\"VG\">Virgin Islands, British<\/option><option value=\"VI\">Virgin Islands, U.s.<\/option><option value=\"WF\">Wallis And Futuna<\/option><option value=\"EH\">Western Sahara<\/option><option value=\"YE\">Yemen<\/option><option value=\"ZM\">Zambia<\/option><option value=\"ZW\">Zimbabwe<\/option><\/select><span class=\"msg\">&nbsp;<\/span><\/div>\n<p><a name=\"fa_zip\"><\/a><\/p>\n<div class=\"row f_zip text required\"><label for=\"f_zip\">Zip Code<\/label><input id=\"f_zip\" name=\"zip\" size=\"8\" type=\"text\" \/><span class=\"msg\"><span>&nbsp;<\/span><\/span><\/div>\n<p><\/p>\n<div class=\"submit\"><a href=\"http:\/\/feedproxy.google.com\/privacy-policy\" >Privacy Policy<\/a><\/p>\n<div class=\"buttons\"><input class=\"button\" type=\"submit\" value=\"Sign Up\" \/><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><em><span style=\"text-decoration: underline;\">Please Note:<\/span> Business Insider will never share your information with any other companies. You also have the ability to unsubscribe from these newsletters at any time simply by following the unsubscribe link located at the bottom of each email<\/em><\/p>\n<\/div>\n<\/form>\n<p><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day-sovereign-external-debt-1800-2006-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/greece-replaces-head-of-debt-management-agency-2010-2\">Greece Replaces Its Debt Management Boss<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/fund-manager-audrey-kaplan-explains-the-dangers-of-greek-contagion-2010-2\">Fund Manager Audrey Kaplan Explains The Dangers Of Greek Contagion<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/la-council-member-tries-to-conveniently-ignore-the-fact-it-just-lost-another-credit-rating-2010-2\">L.A. Council Member Conveniently Ignores The Fact His City Just Lost Another Credit Rating<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/B16GLKgGWB0\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This chart from Gerard Minack at Morgan Stanley, inspired by the research of Harvard professor Ken Rogoff, shows how, surprisingly, sovereign debt crises are pretty common from a historical perspective. The developed world has gone through many cycles of debt accumulation followed by sharp and sudden corrections of debt imbalances via sovereign debt crises of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-358187","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/358187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=358187"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/358187\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=358187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=358187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=358187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}