World’s debt = 3 x Global Economic Output
Global debt levels keeps skyrocketing and there is no end in sight.
According to RT's article (https://www.rt.com/business/394557-global-debt-surge-gdp/) their level reached $217 trillion. which is aroud 300% of the total global economic output.
Interestingly, it is the developing nations, which get deeper into debt.
According to the article, the danger is that when the FED or the ECB increase the interest rates, the borrowers can face difficulties servicing their loans.
When I read this article, it became clear to me, why various nations keep sending rockets, space shuttles and satellites into space - they hope there are potential new creditors on other planets or in other galaxies.
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Good info, thanks for sharing! Cheers from Canada!
I have to wonder if they are all banking on a "great reset" or "jubilee" to wipe all the debts out. This usually means the associated currencies are devalued considerably.
However, if they all decide to collaborate and do it at once, I wonder if the net effect of mass-devaluation on both sides would cancel each other out.
In any case, the amount of debt is staggering.
There should be some kind of law against borrowing from future generations. It isn't like they have a time machine to pop back and say "not so fast".