World-Wide Debt, Equity and Equity-related issuance reached record-breaking levels in 2003 with over $5 trillion in proceeds raised, surpassing 2001’s record of $4.4 trillion. The $5 trillion of borrowings represented 14% of the GDP flow during the year (4.938/36.3) (see world economy).
Debt issuance reported by Thomson Financial ([1]) ($ billions and number of isses).
World-Wide Debt
2003: 4,938 (17,287) (Q4 2003 report)
2002: 3,938 (?) (Q4 2003 report)
Credit debt: ?
Households: 80.9% of households’ gross disposable income
Non-financial corporations: 78.9% of GDP
Government: 70.7% of GDP
Credit debt: ?
Households: 110.5% of households’ gross disposable income
Non-financial corporations: 110.5% of GDP
Government: 141.3% of GDP
Dollar amounts are debt owed by each sector (amounts borrowed by each sector)
Credit debt: $35.8 trillion (303% of GDP) (35820.6/11809.9)
Households: 90% of GDP (67.5% of households’ gross disposable income)
Household sector: 9.9 trillion (includes $9 trillion in mortgage debt)
Financial sectors: 100% of GDP
Financial sectors: $11.6 trillion
Non-financial corporations: 67.5% of GDP
Nonfinancial corporate business: $9 trillion (excludes unfunded liabilities for pension funds and other post employment benefit funds)
Nonfarm noncorporate business: $2.4 trillion
Farm business: $200 billion
Government: 70% of GDP (does not include unfunded liabilities for Medicare and Social Security)
Federal government: $9 trillion
State and local governments: $1.6 trillion
Unfunded Medicare liability: $34 trillion
Unfunded Social Security liability: $12 trillion
