Does The World Need An Extra $100 Trillion In Credit?

The global credit stock has already doubled in recent years, from $57 trillion to $109 trillion between 2000 and 2009 Photo: Alamy

World Needs $100 Trillion More Credit, Says World Economic Forum -- The Telegraph

The world's expected economic growth will have to be supported by an extra $100 trillion (£63 trillion) in credit over the next decade, according to the World Economic Forum.

This doubling of existing credit levels could be achieved without increasing the risk of a major crisis, said the report from the WEF ahead of its high-profile annual meeting in Davos.

But researchers warned that leaders must be wary of new credit "hotspots", where too much lending takes place, as the world emerges from a financial catastrophe blamed in large part "to the failure of the financial system to detect and constrain" these areas of unsustainable debt.

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My Comment: This is nuts. In order to solve the financial/debt crisis, the World Economic Forum is recommending more debt.

Sighhhh .... quoting Ray Bradbury .... the gargoyles have taken over the cathedral.