WATCH: Follow the increase of global #debt over two decades.— IIF (@IIF) November 14, 2019
Latest IIF Global Debt Monitor finds global debt has now surpassed a record $250T & is projected to reach $255T by the end of 2019. pic.twitter.com/D001VVzZmD
Zero Hedge: Global Debt To Hit All Time High $255 Trillion, 330% Of World GDP
There are three certainties in life: death, taxes and that global debt will keep rising in perpetuity.
Addressing the third, yesterday the Institute of International Finance reported that global debt has now hit $250 trillion and is expected to hit a record $255 trillion at the end of 2019, up $12 trillion from $243 trillion at the end of 2018, and nearly $32,500 for each of the 7.7 billion people on planet.
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WNU Editor: The interest payments alone are probably greater than the GDP of every nation with the exception of the U.S..
6 comments:
What's the difference between a pyramid scheme and capitalism?
In a pyramid scheme the people at the bottom only lose their money. In capitalism the people at the bottom lose their money AND get to pay the debt of the top.
With 9bn people we now all have about $28,333 debt per person. This includes the poorest in Africa who obviously never would be able to pay it back (nor should they). So realistically the per capita burden is much much higher and no one is paying it off, nor can they. So this Capitalism debt scheme will only accelerate and will create hyper rich and hyper poor with income inequalities so high they will be become difficult to justify. Sure ,Jeff bezos is smart and works hard. But not a billion times harder or smarter. That's ridiculous. He's likely IQ 130-160. And that's below genius. He would have to have an IQ of 520,040 to justify this income desparity if you want to argue that way. So we need to fix this system or we will have a revolution at hand. You cannot have 9billion slaves slaving their lives away and only maybe 1,000,000 world wide who actually can call their life a life (measured in material means ofc, which is what we all do when we blindly subscribed to this materialistic world/were born into it)
Anon,
Be communist. That's better because the fall is shorter.
Jac, I like parts of capitalism a lot...or used to. It's like a drug..gives you a high when you get that pay check...but then you realise there is two types of drugs. .the ones that enrich your spiritual perspective (eg psylocibin lsd) and then there are the ones that make you all gitty but leave you empty and not yourself (coke, speed etc)
Capitalism is like that. It gives you a high and you buy shit you don't need to reward yourself for that slave life. Then, at the end of your life you wake up and realise wtf have I done with my life?! Why did I slave my life away working an office job I don't believe in? All this time for what...money? That's what capitalism is. Most jobs that pay enough so you don't have to retire in fear to be broke by 70 will almost for sure require that you give up your life and slave away. You spend easily 9hrs in the office (I had jobs where I spent 12-14), 2hrs on commute/preparation and then maybe another 4hrs at home thinking of that shit or answering mails. This goes on for 30-40 years until your soul is completely gone. Women are very much affected by this - many are very good at following rules and climbing the ladder by graduating with good grades and never breaking out, never resisting, never questioning, never objecting. BUT they are the most depressed too and it'll only get worse for them...and how do women (and some men) fight their depression? By shopping! Have you seriously not noticed this?
Of course capitalism is better than any form communism implemented so far at least. .. BUT...both kill you. One kills your soul, the other kills you by starvation (or murderous thugs coming to power). But ..let's be fully honest. .how many wars and murders have been committed for money? Just be honest to yourself when you answer this. .no reason to lie)
I'm not saying I have the answers, I know I don't. ..BUT I know capitalism has killed scores..more than millions every year just for robbery murder and wars. Then the gold diggers that destroy entire generations of men. Looking at this foul behaviour - fully legalised. Or the corruption of our hearts - how we're encouraged to trick people to pay more and we deify rich people for being "smart" to play the system and play their fellow men. It is despicable what capitalism does to the human soul. But. I guess you're right. It kills you more slowly than communism.
Nothing's perfect but Capitalism has lifted more people out of poverty, stabilized crime, created peaceful societies, prevented large scale war etc etc.
WASHINGTON — In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut — for which the company had lobbied hard.
The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts. “If you make the United States a better place to invest, there is no question in my mind that we would see a renaissance of capital investment,” he said on an August 2017 radio show hosted by Larry Kudlow, who is now chairman of the National Economic Council.
Four months later, President Trump signed into law the $1.5 trillion tax cut that became his signature legislative achievement. FedEx reaped big savings, bringing its effective tax rate from 34 percent in fiscal year 2017 to less than zero in fiscal year 2018, meaning that, overall, the government technically owed it money. But it did not increase investment in new equipment and other assets in the fiscal year that followed, as Mr. Smith said businesses like his would.
Nearly two years after the tax law passed, the windfall to corporations like FedEx is becoming clear. A New York Times analysis of data compiled by Capital IQ shows no statistically meaningful relationship between the size of the tax cut that companies and industries received and the investments they made. If anything, the companies that received the biggest tax cuts increased their capital investment by less, on average, than companies that got smaller cuts.
FedEx’s financial filings show that the law has so far saved it at least $1.6 billion. Its financial filings show it owed no taxes in the 2018 fiscal year overall. Company officials said FedEx paid $2 billion in total federal income taxes over the past 10 years.
As for capital investments, the company spent less in the 2018 fiscal year than it had projected in December 2017, before the tax law passed. It spent even less in 2019. Much of its savings have gone to reward shareholders: FedEx spent more than $2 billion on stock buybacks and dividend increases in the 2019 fiscal year, up from $1.6 billion in 2018, and more than double the amount the company spent on buybacks and dividends in fiscal year 2017.
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