BRIC Nations Gain and American Debt

The emerging BRIC Nations are continuing to build up steam as they further prove their future economic dominance. Their reserves now make up 43% of the world's total. It is estimated that these countries will expand 1.3% this year and 4.5% next year. Meanwhile the States continue to pile on debt. The country's debt currently makes up 79% of their GDP. California is currently dealing with upwards of $60 billion worth of debt, that they are slowly selling off in the form of IOUs.