While the US carries the most burden in this debt issuance conundrum, Japan, the UK, France, Germany, China, and other major economies are saddled with massive figures as well.
With a global GDP of $60 trillion, we need close to 9% of world GDP. This is a staggering figure, approximately equal to the GDP of Japan, or five times that of Australia (give or take a few hundred billion).
Here's a list of the new (additional) sovereign debt amounts that need to be issued on a country-by-country basis in 2009, in billions of dollars:
All of a sudden it kind of makes Paulson's $700 billion economic relief fund from last year look like lunch money.
So let's get down to the question at hand: Where will all this money come from?
The first few sources are laughable, especially in the US: Household savings, leverage available to banks, and available cash.
Others include corporate savings, capital inflows, and real estate debt, as listed out by Hayman Advisors.