In 2012, a total of 7,600,000,000,000 dollars of debt must be rolled over by the G-7 nations, Brazil (NYSEArca:EWZ), Russia (NYSEArca:RSX), India (NYSEArca:EPI) and China (NYSEArca:FXI). When you add in interest payments, that number rises to over $8 trillion. And that does not even include any new borrowing that all of those nations will do in 2012. This is a debt bomb that could devastate the entire global economy at any time. Everything will be fine as long as global lenders are willing to lend these countries gigantic mountains of very cheap money. But if that changes, and there are already a multitude of signs that a massive global credit crunch has begun, it will mean a complete and total financial nightmare for the entire world.
The following list compiled by Bloomberg shows the amount of debt that these various nations must roll over in 2012….
Japan: 3,000 billion
U.S.: 2,783 billion
Italy: 428 billion
France: 367 billion
Germany: 285 billion
Canada: 221 billion
Brazil: 169 billion
U.K.: 165 billion
China: 121 billion
India: 57 billion
Russia: 13 billion
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