World debt hits $152tn record: The Debt-Based "Charge It", Fake Recovery
invite response
2016 Oct 5, 8:20am 839 views 7 comments
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FNWGMOBDVZXDNW
2016 Oct 5, 8:28am
Is this adjusted for inflation? If not, it's like Trump's claim to get the most votes ever in a primary.
Does it count all borrowing, or just net borrowing by individuals? Interest rates are really low. How do interest payments compare to payments in times past.
This is another example of a bunch of information with no analysis. It's useless for anyone who isn't building a shitty argument out of random facts he finds on the ground. It's a human version of a birds nest.
Heraclitusstudent
2016 Oct 5, 11:07am
And what do we have to show in exchange for $152 trillions?
Do we have better houses? Better infrastructures? Do we work less based on our efficiency?
Nope. We are just running as fast as we can to just stay in the same place. We work as hard as we can just to make the rich richer.
I think elites are not even trying to solve this. This is institutionalized. The world is becoming a giant slave farm.
Heraclitusstudent
2016 Oct 5, 11:10am
Is this adjusted for inflation?
What do you want to adjust? It's the number TODAY.
Worse than the number itself is the dependence on the continuous exponential rise of this number. Without it, the entire world would fall in a deflationary death spiral.
It says the following right in the article:
"The figure, more than two times the size of the global economy, comes from the fund’s latest Fiscal Monitor and is, officials claim, the most accurate measure of the world’s debt burden ever calculated.
“Global debt is at record highs and rising,†said Vitor Gaspar, director of fiscal affairs at the fund."
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But YesYNot speaks English as a 2nd language, apparently.
What can't be paid back ,won't be paid back!
Of course there couldn't be any negative consequences.
Print more digital 1s and 0s !!!
Give every a million currency units each!!!
Pay them 100,000 currency units per hour to dig up rocks and re-bury them!!!
Kruganomics for the win!!!!
(A loaf of bread will cost $775,000 currency units)
Strategist
2016 Oct 5, 5:44pm
And what do we have to show in exchange for $152 trillions?
The world owes $152 trillion to whom? We owe it to ourselves, making it a wash.
Do we have better houses? Better infrastructures? Do we work less based on our efficiency?
Yes, yes,and yes. We live better than kings did in the old days. They had no air conditioning etc etc etc. Not even soap.
World debt hits $152tn record, says IMF
Calculation of burden highlights challenge of boosting growth
OCTOBER 5, 2016 by: Claire Jones in Washington
The world is $152tn in the red — a record-breaking level of debt, according to the International Monetary Fund.
The figure, more than two times the size of the global economy, comes from the fund’s latest Fiscal Monitor and is, officials claim, the most accurate measure of the world’s debt burden ever calculated.
“Global debt is at record highs and rising,†said Vitor Gaspar, director of fiscal affairs at the fund.
Levels of borrowing have substantially outpaced global growth in recent years, rising from 200 per cent of gross domestic product in 2002 to 225 per cent last year.
The size of the debt burden highlights the difficulty of boosting the fragile international economy at a time when borrowing, particularly by corporates, has already reached unprecedented levels.
While two thirds of the debt is held by the private sector, governments’ borrowing requirements have also ballooned since the global financial crisis.
https://www.ft.com/content/6f561ae2-8ad4-11e6-8cb7-e7ada1d123b1
#DiggingOutOfHoleByDigging
#ObamaNomics
#KrugmanAlienInvasion