Zero Hedge: Global Debt Hits A Record $300 Trillion, Up $36 Trillion Since COVID
Another quarter, another all time high in global debt (don't expect this to ever again drop under the existing monetary framework).
According to the Institute of International Finance (IIF), total global debt - which includes government, household and corporate and bank debt but excludes derivatives and various other exotic products - rose to a new record high of nearly $300 trillion in the second quarter, $296 trillion to be precise, and up $4.8 trillion in the quarter.
This means that in the 18 months since covid, total debt has risen a stunning $36 trillion!
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WNU Editor: The world's yearly GDP is around $80 trillion. If global interest rates should hit an average of 5%, it would mean that about a fifth of the world's GDP ($15 trillion) will then just be dedicated to paying the interest on that debt.
4 comments:
Definitely fascinating, but also kind of scary.
It's no exaggeration to say America's Upper 2% have gotten away with Tax Murder in legally avoiding taxation. The USA has a Debt problem because Great Wealth is paying little to nothing, accruing more profit with little investment, and screwing employees. The situation won't change while they control or influence taxation policy. Taxed equitably, Debt would disappear. Quickly.
It's impossible to prevent stateless elites from avoiding taxes when stateless elites control the two parties.
The entire world population now owes them the equivalent of almost 4 years of slave labor. Very cool! Thank you Kanye!
I think many universities also ripped off their students...
I know of friends who pay $400k for a medical degree, eg dentist, and then are in debt for 10-20 years first
And you have to understand what debt does to any person, especially during a pandemic. You hold on to your job, and are extremely careful and trained/ some might say conditioned, to accept protocols and authority often without questioning
And we see it everywhere
News
Education
And politicians too
Some of them are obviously corrupt and have amassed hundreds of millions on book deals and speaking fees. Or paintings.
We all know who and we know who lost billions while in the white house.
We know who.
The real question here is:
Who dares to look into the abyss and be honest about the state of affairs.
300trillion global debt
A great reset plan in which the corrupt want to solidify their power and have permanent emergency state/ marital law until they've changed our societies by 2030
I do not know the solution to this attack, but at least I looked at it, opened my eyes and were honest about what we are facing.
To my best knowledge. I of course might be wrong.
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