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My son is a senior at MSU, is an ace engineering student and almost fluent in German. He's seriously considering finishing his masters abroad in Germany and living there FT.
I could see him staying put. As far as I'm concerned my kids are going to be the one's saddled with the Federal debt, which frankly they shouldn't have to have been. At some point taxes will go up, social spending will go down. Make a better living elsewhere.
There are greener pastures elsewhere
Government Debt to GDP in Germany is expected to reach 75.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations.
If you care about debt and your son, Germany would be the last place he should go to live.
Government Debt to GDP in Germany is expected to reach 75.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations.
If you care about debt and your son, Germany would be the last place he should go to live.
First off - here's Germany's forecast.Compare this to the USA. The USA's Debt to GDP ratio is 107% according to Trading Economics. , #11 on the list. Germany is all the way down at 59th worldwide, 59.18% as of December 2019. Germany doesn't even have the worst debt:GDP ratio in Europe, it's #18. The CIA has slightly different numbers: , the USA in #34 with a ratio of 82.30%, and Germany in #61 with a ratio of 64.10%. Afghanistan has a debt to GDP ratio of 7.30% according to the CIA (#201), and 7.1% according to Trading Economics. Does that make it a good place to live?
Last edited by wikiwikirunner; 05-14-2020 at 06:04 AM..
My son is a senior at MSU, is an ace engineering student and almost fluent in German. He's seriously considering finishing his masters abroad in Germany and living there FT.
I could see him staying put. As far as I'm concerned my kids are going to be the one's saddled with the Federal debt, which frankly they shouldn't have to have been. At some point taxes will go up, social spending will go down. Make a better living elsewhere.
There are greener pastures elsewhere
He should at least try it. My son's best friend growing up got his Doctorate in some science field and has been living in Germany for over 10 years and doesn't seem to want to return (now married to a German girl).
I don't think he would make a better living in Germany though. I just did a comparison and the average take home salary in Berlin is less than half of what it is in Seattle and Americans have over double the average wealth as Germans. I do agree the debt we're making is a national disgrace.
Government Debt to GDP in Germany is expected to reach 75.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations.
If you care about debt and your son, Germany would be the last place he should go to live.
Quote:
Originally Posted by wikiwikirunner
First off - here's Germany's forecast.Compare this to the USA. The USA's Debt to GDP ratio is 107% according to Trading Economics. , #11 on the list. Germany is all the way down at 59th worldwide, 59.18% as of December 2019. Germany doesn't even have the worst debt:GDP ratio in Europe, it's #18. The CIA has slightly different numbers: , the USA in #34 with a ratio of 82.30%, and Germany in #61 with a ratio of 64.10%. Afghanistan has a debt to GDP ratio of 7.30% according to the CIA (#201), and 7.1% according to Trading Economics. Does that make it a good place to live?
Quote:
Originally Posted by Tall Traveler
He should at least try it. My son's best friend growing up got his Doctorate in some science field and has been living in Germany for over 10 years and doesn't seem to want to return (now married to a German girl).
I don't think he would make a better living in Germany though. I just did a comparison and the average take home salary in Berlin is less than half of what it is in Seattle and Americans have over double the average wealth as Germans. I do agree the debt we're making is a national disgrace.
Germany is a great place to live. In almost all criteria measured, Germany is near the top, including social mobility, income, poverty, crime, healthcare outcomes, and morbidity and the list goes on and on.
Germany is a great place to live. In almost all criteria measured, Germany is near the top, including social mobility, income, poverty, crime, healthcare outcomes, and morbidity and the list goes on and on.
It's a great country. They also killed 60 million people last century. I personally don't like the weather but I do enjoy their autobahn and their cars. I also like Austria much better than Germany. I think my ancestors must have had a good reason to leave there but maybe some of us should return?
Government Debt to GDP in Germany is expected to reach 75.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations.
If you care about debt and your son, Germany would be the last place he should go to live.
You do realize the US is in far worse shape, don't you?
How to Use the Debt-to-GDP Ratio
The debt-to-GDP ratio allows investors in government bonds to compare debt levels between countries. For example, Germany's 2017 debt is $2.7 trillion, dwarfing that of Greece, which is $514 billion. But Germany's 2017 GDP is $3.8 trillion, much more than Greece's $281 billion. That's why Germany, the largest country in the EU, had to bail out Greece, and not the other way around. The debt-to-GDP ratio for Germany is a comfortable 72%, while that for Greece is 182%.
So, is the debt-to-GDP ratio a good predictor of which country will default? Not always. Japan's debt-to-GDP ratio is 228%. Japan is not in danger of default, because most of its debt is held by its own citizens. A lot of Greece's debt was held by foreign governments and banks. As Greece's bank notes became due, its debt was downgraded by ratings agencies like Standard & Poor's, which made interest rates rise. Greece had to find a way to raise more revenue. It agreed to cut spending and raise taxes to do so. This further slowed its economy, further reducing revenue and its ability to pay down its debt.
The U.S. debt-to-GDP ratio is 110%. Why aren't investors concerned that it will default? Unlike Greece, the United States can simply print more dollars to pay off the debt. For this reason, the risk of default is very low. On the other hand, the debt holders wind up with money that's worth less. This will eventually make them avoid U.S. debt.
As a country's debt-to-GDP ratio rises, it often signals that a recession is underway. That's because a country's GDP decreases in a recession. It causes taxes, and federal revenue, to decline at exactly the same time the government spends more to stimulate its economy. If the stimulus spending is successful, the recession will lift. Taxes and federal revenues will rise, and the debt-to-GDP ratio should level off.
I mean if you want to throw stats around, context would be kinda important. And to be frank- these articles probably don't account for the recent 2.2T in debt added by the US. I find it patently absurd that the current administration with the abetting of Congress went further into debt when our economy was in great shape from 2016-2019.
He should at least try it. My son's best friend growing up got his Doctorate in some science field and has been living in Germany for over 10 years and doesn't seem to want to return (now married to a German girl).
I don't think he would make a better living in Germany though. I just did a comparison and the average take home salary in Berlin is less than half of what it is in Seattle and Americans have over double the average wealth as Germans. I do agree the debt we're making is a national disgrace.
It's a horror story in the making. It's funny how it was so... so important to some people when Obama was in office and now? Well??
……………………………...… so what? More room for the rest of us.
Idiots romanticize living overseas, as they have never been there. There are some cool places in Europe and Asia for sure. However, America has such a wide range of natural scenery to explore and (presumably) everyone speaks English.
I never understood why anyone would want to move away from their kids, but I guess I have different priorities.
Lots of us don't have kids. Nothing to keep us in the States when our QOL goes up dramatically living elsewhere. Here in Portugal, almost everyone speaks some English.
I'd rather be oceanfront on the Pacific or Atlantic rather than the Salton Sea, for the same money. We pay no income tax.
We know an expat who renounced their citizenship and thought it was very odd.
It makes perfect sense that only 2900 Americans did it?
Plenty of tax services out there will help you navigate your tax obligations while working overseas and many of your taxes depend on what state you claim to reside in.
You can’t just renounce your US citizenship and relax in another country. You have to meet the requirements to apply for citizenship or permanent residency in that foreign country. And if it’s a country worth immigrating with a high quality of life and valuable passport, you can bet your butt the process will be long, expensive, and complicated.
Oh and you also need to prove you can learn and speak the local language, depending on the type of permanent residency you’re seeking. So yeah, hardly a walk in the park.
Yes, it was complicated and expensive for us, even to Ecuador. Good thing for us no language requirements or most of retirees wouldn't qualify, lol.
I agree with everything you said in this post (that makes 2 times now) but I've known many who just didn't feel that way and established their lives in another country which is their right.
Their feelings don’t concern me. Their taxes do. Pay up or become stateless.
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