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VodkaPundit

My Back Is Broad But It’s a Hurtin’

March 10th, 2014 - 9:21 am

Sustainability:

The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.

Obviously we failed to spend enough money.

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All Comments   (3)
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the numbers i have found, if accurate, state that the world domestic product is $70 trillion. when debt equals 143% of income we are, in the imortal words of someone or other, screwed.
40 weeks ago
40 weeks ago Link To Comment
I wonder if it might be possible to figure out who owes what to whom and see how much of this debt cancels out. Presumably at least some of it would.

Otherwise, the Amish survive, and some of the natives in New Guinea - but the rest of us, I dunno.
40 weeks ago
40 weeks ago Link To Comment
Whenever I look at numbers like that, I can't help but wonder, who is it borrowed from? But of course, it is mostly a game of musical chairs. I borrow $30 from Peter, who borrows $30 from Paul, who borrows $30 from me.

Nothing really changes but somehow we each now have $60 (including accounts receivable) and together we're $90 in debt. And we all crash if any one of us fails to repay the money.
40 weeks ago
40 weeks ago Link To Comment
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