Debt gone by 2021!

[Husar]

Wait a second, a Norwegian posting in a debt thread???
We all know you have oil and are rich, your GDP per capita is the second highest right after Luxembourg IIRC.
Yes, this comes from a jealous German who wants some of your oil.

And I didn't figure out yet what's so good about debts, we have huge debts and no money for schools and stuff which would most likely better if we didn't have to pay interest because of those debts...

[Sigurd]

Yes, this comes from a jealous German who wants some of your oil.

You get it ... every day. We just make sure we are paid around $60 a barrel.

And I didn't figure out yet what's so good about debts, we have huge debts and no money for schools and stuff which would most likely better if we didn't have to pay interest because of those debts...

I am not an economist and can not elaborate on why debt is good for a state that has 1, 5 trillion in a slush fund.
I guess liquidity is a factor. To always have enough cash when payments vary in size and you don’t always know how much is to be paid or when.
I guess loaning currency is better than buying is some cases.

Is that necessarily a good thing? The Burmese generals are always strapped for cash because they spend so much money on bolstering their oppressive regime. The less cash they have, the better it is for Burma, I would think. No?

When it comes to countries like Burma and Sudan they spend more paying off debts than what they spend on education and healthcare. Even though they have an oppressive regime, we can always hope they find good ways of spending their now reduced debt payments. They can’t say now that they have no money for the people because of large debts.

[Adrian II]

When it comes to countries like Burma and Sudan they spend more paying off debts than what they spend on education and healthcare.

Burma spends $2.84 billion a year on its army, which is 222% more than it spends on health and education combined.

Even though they have an oppressive regime, we can always hope they find good ways of spending their now reduced debt payments.

Oh, great. The U.S. has frozen Burmese government assets. Asian countries are threatening to expel Burma from ASEAN because of its horrible record on human rights, violation of international and bilateral treaties and government corruption. And then Norway gives them a $1,5 billion birthday present.

They can’t say now that they have no money for the people because of large debts.

Hardly. Burmese foreign debt stands at $6 billion.

[Sigurd]

We could always give them a new loan...

[Louis VI the Fat]

We have canceled our claims to the following debtors (in NoK):

Burma – 1.5 billion
Sierra Leone – 60 million
Sudan – 772 million

Ah, so that's how those piss-poor countries manage to pay for our arms supplies: at the end of the chain, there's a Norwegian taxpayer.

This is so much better, so much more elegant, than a Norwegian membership of the EU and having your taxmoney flow into our coffers through elaborate yet cumbersome devices like the CAP.

[Adrian II]

Ah, so that's how those piss-poor countries manage to pay for our arms supplies: at the end of the chain, there's a Norwegian taxpayer.

This is so much better, so much more elegant, than a Norwegian membership of the EU and having your taxmoney flow into our coffers through elaborate yet cumbersome devices like the CAP.

You French scoundrel, why don't you choke on your Dutch-subsidized Camembert.

Leave the Fourme D'Ambert alone though. Please?