Zero Hedge: Global Debt Hits Record $233 Trillion, Up $16Tn In 9 Months
Last June we reported that according to the Institute of International Finance - perhaps best known for its periodic and concerning reports summarizing global leverage statistics - as of the end of 2016, in a period of so-called "coordinated growth", global debt hit a new all time high of $217 trillion, over 327% of global GDP, and up $50 trillion over the past decade.
Six months later, on January 4, 2018, the IIF has released its latest global debt analysis, which reported that global debt rose to a record $233 trillion at the end of Q3 of 2017 between $63Tn in government, $58Tn in financial, $68TN in non-financial and $44Tn in household sectors, an total increase of $16 trillion increase in just 9 months.
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WNU Editor: I shudder when I look at these numbers. The interest alone that must support such a debt .... as I said .... I shudder all the time when I think about these things.
4 comments:
There is no way anyone - neither China nor the US nor Europe or Asia will pay back this debt. It's just not possible. The entire world's gdp for several years wouldn't be enough. And I'm sure the debt growths faster than the combined gdp. So at what point do we just scrap it?
Just checked: nominal wdp (world domestic product) is 78bn per year. So the entire world couldn't pay it back even if we all starved for years
I'm happy to say I live debt free. I avoid all loans I possibly can, and try to save then buy. In the long run, I'll have more money spending that way. The amount of global debt is unrealistic. At some point, the glass is gonna break. Our world, infrastructure, cities, schools, and pretty much everything we know, has been built with imaginary money. When the cracks in our world give way, and everything we know shatters. You had better hope you prepared to be self sufficient. Precious metals might be king, but it won't sustain life. Commodies will have true value. Water, meat, and grain. I'm not a prepper, but I'm a realist. I've made a little black book. With very valuable information that I wouldn't just be able to look up on Google anymore. Farming knowledge, medical knowledge, metal working, small motor designs, how to make batterys, how to mine metals, etc. In such dire times, my book itself would have infinite value. Articles like this only serve to remind me how fragile our society is. A paper boat will only float so long.
True that brother. I'm actually more suprised it hasn't happened yet
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