Global debt and oil prices

From the Economist’s website: global public debt has reached $US 45 trillion.

http://www.economist.com/content/global_debt_clock

We compare the stacked debt curves with the NYMEX oil price:

The steep rise of both debt and oil price is purely coincidental

More details on this graph:

17/5/2011  Incremental crude oil production update Jan 2012

http://crudeoilpeak.info/incremental-crude-oil-production-update-january-2012

And in Australia:

http://www.australiandebtclock.com.au/ 

This debt situation cannot stop tollway operators from increasing their debt, yet again:

Global Credit Research – 23 May 2012

AUD733 million of debt securities affected

Moody’s Investors Service has assigned a provisional (P)A2 senior secured rating to Interlink Roads Pty Ltd’s AUD733 million proposed senior secured bank facility.

• A senior secured floating-rate syndicated bank facility, which consists of the following two tranches:

- AUD430 million due December 2015

- AUD290 million due December 2016

• A senior secured standby facility of AUD13 million due December 2015

The company intends to use the proceeds from the issuance to refinance existing bank debt and fund the widening of the M5 South West Motorway (M5SW), its principal asset.

http://www.moodys.com/printresearchdoctopdf.aspx?docid=PR_246027

Debt can kicked down the toll-road

 Interesting Australian websites on debt

Steve Keen’s debtwatch   http://www.debtdeflation.com/blogs/

The Centre for Economic Stability  http://www.centerforeconomicstability.com.au/