{"id":171889,"date":"2026-09-21T09:45:25","date_gmt":"2026-09-21T09:45:25","guid":{"rendered":"https:\/\/friss-hirek.hu\/index.php\/naprol-napra-felfoghatatlan-tempoban-no-az-allamadossag-amerikaban\/friss-hirek\/"},"modified":"2026-09-21T09:45:25","modified_gmt":"2026-09-21T09:45:25","slug":"naprol-napra-felfoghatatlan-tempoban-no-az-allamadossag-amerikaban","status":"publish","type":"post","link":"https:\/\/friss-hirek.hu\/index.php\/naprol-napra-felfoghatatlan-tempoban-no-az-allamadossag-amerikaban\/uzlet\/","title":{"rendered":"Napr\u00f3l napra felfoghatatlan temp\u00f3ban n\u0151 az \u00e1llamad\u00f3ss\u00e1g Amerik\u00e1ban"},"content":{"rendered":"<p><strong>Naponta (!) 6 milli\u00e1rd doll\u00e1rral, azaz 1900 milli\u00e1rd forinttal n\u0151 az USA \u00e1llamad\u00f3ss\u00e1ga.<\/strong><\/p><div id=\"friss-1710727549\" class=\"friss-etarget friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var n=o.offsetTop,d=o.offsetLeft,r=o.offsetWidth,a=o.offsetHeight;o.offsetParent;)o=o.offsetParent,n+=o.offsetTop,d+=o.offsetLeft;var i=(n<=window.pageYOffset+window.innerHeight&&d<window.pageXOffset+window.innerWidth&&n+a>window.pageYOffset&&d+r>window.pageXOffset);if(i&&etargetAllowOtherCheck){allowed=!1;var c=document.createElement(\"script\");return c.src=\"\/\/hu.search.etargetnet.com\/generic\/uni.php?g=ref:58661,area:700x210\",void(document.getElementById(t)&&document.getElementById(e)&&(document.getElementById(t).parentNode.appendChild(c),document.getElementById(t).parentNode.removeChild(document.getElementById(t)),document.getElementById(e).parentNode.removeChild(document.getElementById(e)),document.removeEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b)))}}}var etargetDivID=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",etargetScriptID=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",etargetPostloadPoint=document.createElement(\"div\");etargetPostloadPoint.id=etargetDivID;var etargetCurScript=document.getElementById(etargetScriptID);etargetCurScript.parentNode.appendChild(etargetPostloadPoint),document.addEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b);var etargetAllowOtherCheck=!0;if(typeof(\"forceRunPostload\")==\"string\"){etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b()}<\/script><\/div>\n<p><strong>Mi t\u00f6rt\u00e9nt?<\/strong> Az OECD 38 tag\u00e1llam\u00e1nak \u00e1llamad\u00f3ss\u00e1ga 2007 \u00f3ta csaknem megh\u00e1romszoroz\u00f3dott: a 22,5 ezer milli\u00e1rd doll\u00e1ros szintr\u0151l 2025-re 61 ezer milli\u00e1rdra emelkedett. A folyamatb\u00f3l az Egyes\u00fclt \u00c1llamok k\u00fcl\u00f6n\u00f6sen nagy szeletet has\u00edtott ki. Az amerikai ad\u00f3ss\u00e1g ugyanezen id\u0151szak alatt 9 ezer milli\u00e1rd doll\u00e1rr\u00f3l mintegy 40 ezer milli\u00e1rdra n\u0151tt, \u00e9s az amerikai p\u00e9nz\u00fcgyminiszt\u00e9rium adatai szerint jelenleg \u00e1tlagosan t\u00f6bb mint 6 milli\u00e1rd doll\u00e1rral emelkedik naponta, <a href=\"https:\/\/hvg.hu\/gazdasag\/20260921_oecd-allamadossag-usa-allampapirok-rekord\">\u00edrja a HVG.<\/a><\/p>\n<div class=\"related-post-links\">\n<p>\t\t<span class=\"related-post-links__title minititle\">T\u00f6bb ebb\u0151l<\/span><\/p>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/penz\/amerikai-hozamok-forint-allamadossag\/\" class=\"related-post-links__link\">Egy sz\u00e1mra figyel a vil\u00e1g: k\u00e9t \u00e9vtizede nem l\u00e1ttunk ilyet, a forint \u00e9s az \u00e1llampap\u00edrok is megmozdultak<\/a>\n\t\t\t<\/div>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/penz\/allampapir-hozamok-karman\/\" class=\"related-post-links__link\">T\u00e9nyleg dr\u00e1gul az \u00e1llamad\u00f3ss\u00e1g finansz\u00edroz\u00e1sa, de messze nem csak Magyarorsz\u00e1gon<\/a>\n\t\t\t<\/div>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/penz\/allamadossag-q1-2026\/\" class=\"related-post-links__link\">Sz\u00e9d\u00fcletes \u00e1llamad\u00f3ss\u00e1g-hegyet hagyott maga ut\u00e1n az Orb\u00e1n-korm\u00e1ny, nem lesz k\u00f6nny\u0171 dolguk Magyar P\u00e9ter\u00e9knek<\/a>\n\t\t\t<\/div>\n<\/div>\n<p><strong>\u00d3ri\u00e1si hi\u00e1ny. <\/strong>A temp\u00f3 az\u00e9rt is figyelemre m\u00e9lt\u00f3, mert Washington idei k\u00f6lts\u00e9gvet\u00e9si hi\u00e1nya az Allianz Investment Management becsl\u00e9se szerint a GDP 5,7 sz\u00e1zal\u00e9ka k\u00f6r\u00fcl alakulhat. Az amerikai ad\u00f3ss\u00e1g azonban GDP-ar\u00e1nyosan m\u00e1r kev\u00e9sb\u00e9 kir\u00edv\u00f3, mint az abszol\u00fat sz\u00e1mok alapj\u00e1n: 2016 \u00f3ta 107 sz\u00e1zal\u00e9kr\u00f3l 124 sz\u00e1zal\u00e9kra emelkedett, mik\u00f6zben az amerikai gazdas\u00e1g teljes\u00edtm\u00e9nye 19 ezer milli\u00e1rd doll\u00e1rr\u00f3l 32 ezer milli\u00e1rdra n\u0151tt. Jap\u00e1nban ezzel szemben m\u00e1r 200 sz\u00e1zal\u00e9k felett j\u00e1r a mutat\u00f3.<\/p>\n<p><strong>Nemzetk\u00f6zi trend.<\/strong> A probl\u00e9ma r\u00e1ad\u00e1sul messze nem amerikai saj\u00e1toss\u00e1g. Az Allianz elemz\u0151i szerint Jap\u00e1n, Franciaorsz\u00e1g \u00e9s N\u00e9metorsz\u00e1g is az elad\u00f3sod\u00e1s n\u00f6veked\u00e9s\u00e9vel k\u00fczd. N\u00e9metorsz\u00e1g GDP-ar\u00e1nyos \u00e1llamad\u00f3ss\u00e1ga m\u00e9g mindig csaknem 65 sz\u00e1zal\u00e9k, ami nemzetk\u00f6zi \u00f6sszevet\u00e9sben m\u00e9rs\u00e9keltnek sz\u00e1m\u00edt, az \u00faj ad\u00f3ss\u00e1g felhalmoz\u00e1s\u00e1nak \u00fcteme azonban m\u00e1r ott is aggodalomra ad okot.<\/p>\n<p><strong>K\u00edna ezen a t\u00e9ren is kiemelked\u0151. <\/strong>K\u00edna k\u00f6zben eg\u00e9szen m\u00e1s l\u00e9pt\u00e9kben v\u00e1ltoztatja meg a k\u00e9pet. Az IMF adatai szerint az orsz\u00e1g \u00e1llamad\u00f3ss\u00e1ga a GDP ar\u00e1ny\u00e1ban t\u00edz \u00e9v alatt t\u00f6bb mint k\u00e9tszeres\u00e9re n\u0151tt, \u00e9s id\u00e9n megk\u00f6zel\u00edtheti a 107 sz\u00e1zal\u00e9kot. Ha pedig a bankokat nem sz\u00e1m\u00edtjuk, a k\u00ednai mag\u00e1nszektor ad\u00f3ss\u00e1ga 2025-ben m\u00e1r a GDP 313 sz\u00e1zal\u00e9k\u00e1ra r\u00fagott.<\/p>\n<p><strong>V\u00e1ls\u00e1g?<\/strong> Az ad\u00f3ss\u00e1g \u00f6nmag\u00e1ban azonban m\u00e9g nem jelenti azt, hogy egy orsz\u00e1g v\u00e1ls\u00e1gba ker\u00fcl. Peter Bofinger w\u00fcrzburgi k\u00f6zgazd\u00e1sz szerint nincs olyan univerz\u00e1lis k\u00fcsz\u00f6b, amely f\u00f6l\u00f6tt automatikusan fenntarthatatlann\u00e1 v\u00e1lik egy gazdas\u00e1g finansz\u00edroz\u00e1sa. Sokkal fontosabb lehet, hogy milyen deviz\u00e1ban denomin\u00e1lj\u00e1k az ad\u00f3ss\u00e1got, illetve mennyire b\u00edznak a befektet\u0151k az adott orsz\u00e1g valut\u00e1j\u00e1ban \u00e9s \u00e1llampap\u00edrjaiban.<br \/>A n\u00f6vekv\u0151 ad\u00f3ss\u00e1g viszont akkor is probl\u00e9m\u00e1t okozhat, ha nem k\u00f6vetkezik be klasszikus ad\u00f3ss\u00e1gv\u00e1ls\u00e1g. Az egyre magasabb kamatkiad\u00e1sok ugyanis kiszor\u00edthatj\u00e1k a k\u00f6lts\u00e9gvet\u00e9sb\u0151l az eg\u00e9szs\u00e9g\u00fcgyre, beruh\u00e1z\u00e1sokra vagy m\u00e1s \u00e1llami programokra ford\u00edthat\u00f3 p\u00e9nzt.<\/p>\n<p><strong>Az USA speci\u00e1lis helyzete. <\/strong>A doll\u00e1r glob\u00e1lis tartal\u00e9kvaluta, az amerikai \u00e1llampap\u00edr pedig a vil\u00e1g p\u00e9nz\u00fcgyi rendszer\u00e9nek egyik legfontosabb eszk\u00f6ze. Ennek ellen\u00e9re a finansz\u00edroz\u00e1s m\u00e1r nem felt\u00e9tlen\u00fcl lesz olcs\u00f3. Az amerikai t\u00edz\u00e9ves \u00e1llamk\u00f6tv\u00e9ny hozama augusztusban 5 sz\u00e1zal\u00e9kra emelkedett, ami 2007 \u00f3ta a legmagasabb szint volt.<\/p>\n<p><!-- No email blocks found --><\/p>\n<p>The post <a href=\"https:\/\/www.forbes.hu\/penz\/naprol-napra-felfoghatatlan-tempoban-no-az-allamadossag-amerikaban\/\">Napr\u00f3l napra felfoghatatlan temp\u00f3ban n\u0151 az \u00e1llamad\u00f3ss\u00e1g Amerik\u00e1ban<\/a> appeared first on <a href=\"https:\/\/www.forbes.hu\/\">Forbes.hu<\/a>.<\/p><div id=\"friss-2620743929\" class=\"friss-etarget-cikk-vege friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var 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id=\"friss-782210613\" class=\"friss-after-content_3 friss-entity-placement\">https:\/\/www.youtube.com\/watch?v=Pdnw4KiUWp0<\/div>","protected":false},"excerpt":{"rendered":"<p>Naponta (!) 6 milli\u00e1rd doll\u00e1rral, azaz 1900 milli\u00e1rd forinttal n\u0151 az USA \u00e1llamad\u00f3ss\u00e1ga. Mi t\u00f6rt\u00e9nt? Az OECD 38 tag\u00e1llam\u00e1nak \u00e1llamad\u00f3ss\u00e1ga 2007 \u00f3ta csaknem megh\u00e1romszoroz\u00f3dott: a 22,5 ezer milli\u00e1rd doll\u00e1ros szintr\u0151l 2025-re 61 ezer milli\u00e1rdra emelkedett. A folyamatb\u00f3l az Egyes\u00fclt \u00c1llamok k\u00fcl\u00f6n\u00f6sen nagy szeletet has\u00edtott ki. Az amerikai ad\u00f3ss\u00e1g ugyanezen id\u0151szak alatt 9 ezer milli\u00e1rd doll\u00e1rr\u00f3l [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-171889","post","type-post","status-publish","format-standard","hentry","category-uzlet"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/171889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/comments?post=171889"}],"version-history":[{"count":0,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/171889\/revisions"}],"wp:attachment":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/media?parent=171889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/categories?post=171889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/tags?post=171889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}