The Guardian reports that global debt has grown by $57 trillion dollars – to $199 trillion dollars – since the 2008 financial crisis.
How much is that? It’s a big number … but what does it actually mean?
The Guardian notes that global debt is now more than twice the size of the entire global economy:
Total debt as a share of GDP stood at 286% in the second quarter of 2014 compared with 269% in the fourth quarter of 2007.
(That’s more than 2.8 times the size of the world economy).
And it will only keep getting worse:
Government debt-to-GDP ratios will to continue to rise over the next five years in a number of countries including Japan, the US and most European countries ….
While the mainstream press talks about “deleveraging”, the fact is that many households are going deeper into debt:
…click on the above link to read the rest of the article…