General Question

talljasperman's avatar

If your country sells everything it owns could it pay off its bills?

Asked by talljasperman (21916points) July 19th, 2015

From Canada and the USA, Greece and Spain. Every country in debt. Can you make an estimate for other countries that are not represented by a Fluther jelly? For starters Canada owes $500 billion aprox. And the USA owes $17 trillion dollars. The Dow is worth $24 trillion so the states can pay it’s debts. I don’t know about Canada. Greece owes about $340 billion euros.

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5 Answers

dabbler's avatar

The U.S. government doesn’t own the equity instruments underlying the Dow, so that won’t work.
But it does own a LOT of land (including the National Parks and military bases that the Koch brothers are lobbying to “privatize”/steal from the public).

Whether or not a fair price is paid for nation-held assets would have a lot to do with whether or not liquidation will pay all the debt.

cazzie's avatar

I live in Norway. So, along with UAE and Saudia Arabia… it is in that rare position of actually being in the black…literally… with crude oil.

JLeslie's avatar

I don’t think it works that way. Plus, citizens own the stick shares so to pay off the debt in the US the government needs to get enough money to pay it. That would be through taxes, or, the government having something to sell (like energy) and not spending stupidly in the future.

Pandora's avatar

Yes, if we sold some of our states to foreign nations. I say give up Texas (only the non gasoline producing areas), Tennessee, Mississippi, Alabama and Georgia.

cletrans2col's avatar

@Pandora New York and California would probably net us the most money

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