RECENT NEWS
Sydney Morning Herald  48 min ago  Comment 
Germany, the eurozone's biggest economy, is examining how to build a "firewall" to prevent the Greek debt crisis tearing through the countries that use the euro, the Financial Times reported on Wednesday.
Financial Times  2 hrs ago  Comment 
Europe’s top 100 fixed income managers expect fundamental credit conditions to deteriorate for sovereign debt, according to a survey by Fitch Ratings
Sydney Morning Herald  4 hrs ago  Comment 
Coalition MPs are rallying around Barnaby Joyce as Labor continues to savage the opposition finance spokesman for his outspoken comments about government debt.
Sydney Morning Herald  Feb 9  Comment 
Canada.com  5 hrs ago  Comment 
Corporates in the news Tuesday included Agrium, Suncor, Intrawest, Inmet, MagIndustries, Coca-Cola and Disney. Also: the Canadian dollar firmed against the U.S. dollar and oil prices rose
Reuters  6 hrs ago  Comment 
* Facing appeals on Red Dog expansion, deadline next week
Clusterstock  7 hrs ago  Comment 
Last week we wrote that several large hedge funds are getting out of the distressed debt markets. David Tepper famously jumped on this market and made $7 billion. The concern now is that the market might be dried up. We spoke to David Young...
CANOE.ca  8 hrs ago  Comment 
VANCOUVER, B.C. - Mining giant Teck Resources Ltd. (TSX:TCK.B) says it expects demand to outstrip supply for its products over the next ten years.
MarketWatch  8 hrs ago  Comment 
The Treasury Department sold $40 billion in 3-year notes on Tuesday at a yield of 1.377%, a little higher than traders anticipated in what CRT Capital Group call a "soft" auction. Bidders offered to buy 2.83 times the amount of debt being sold,...
Clusterstock  12 hrs ago  Comment 
Many of the major players in New York City real estate are returning to the table, but it isn't the new money charlatans of the last decade. Instead, names like LeFrak, Durst, and Rudin are again being mentioned as big players in deals that will...
HedgeFundBlogger.com by Richard Wilson  Feb 9  Comment 
Distressed Debt Hedge Funds Close Many Distressed Debt Hedge Funds Closing Early In the peak of the economic crisis, hedge fund firms hurried to launched funds focused in distressed debt.  Now, as the opportunities for investing seem to be...



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Debt represents a promise or obligation to pay for something that has already been received, as a credit.

An example that will be understood by most people today is credit card debt. The credit card company pays for something, such as a shiny new PS3 console, allowing you to take it home without having paid for it yourself. In return, you assume an obligation to pay back the credit card company under the terms of your previously arranged agreement with that credit card company.

It is common for consumers, businesses and even governments to assume debt.

Debt, as a balance sheet item, includes the following:

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