{"id":23131,"date":"2017-03-05T19:25:06","date_gmt":"2017-03-06T00:25:06","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23131"},"modified":"2017-03-05T19:25:06","modified_gmt":"2017-03-06T00:25:06","slug":"toxic-loans-around-the-world-weigh-on-global-growth","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23131","title":{"rendered":"Toxic Loans Around the World Weigh on Global Growth"},"content":{"rendered":"<h3 class=\"entry-title\"><a title=\"Permalink to Toxic Loans Around the World Weigh on Global Growth\" href=\"http:\/\/energyskeptic.com\/2017\/toxic-loans-around-the-world-weigh-on-global-growth\/\" rel=\"bookmark\">Toxic Loans Around the World Weigh on Global Growth<\/a><\/h3>\n<div class=\"entry-meta\">[\u00a0<em>Since 2008 people have been struggling to pay back increasing amounts of debt. China is the worst of all, with $5 to $6.6 trillion dollars of bad debt and $30 trillion overall debt, up from $9 trillion just 7 years ago, a staggering amount of money, unprecedented in world history. Europe has bad loans of over $1 trillion. China banks have pulled back on lending \u2013 if China slows down, so does the rest of the world (see\u00a0<a href=\"http:\/\/www.nytimes.com\/interactive\/2015\/08\/26\/business\/-why-china-is-rattling-the-world-maps-charts.html?version=meter+at+0&amp;module=meter-Links&amp;pgtype=article&amp;contentId=&amp;mediaId=&amp;referrer=http%3A%2F%2Fwww.nytimes.com%2Fslideshow%2F2016%2F02%2F04%2Fbusiness%2Finternational%2Fbad-loans-in-china%2Fs%2F04badloans-slideshow-slide-G5XZ.html&amp;priority=true&amp;action=click&amp;contentCollection=meter-links-click\">Why China rattles the world<\/a>). If only it were just China \u2014 Europe, the U.S. and other nations that printed up trillions of dollars has left an even larger debt. With oil prices so low, shale oil companies are having a hard time paying the hundreds of billions of dollars they\u2019ve borrowed.\u00a0 As so many articles at energyskeptic point out, there has been no real reform, oil peaked in production in 2005 and that means the end of growth and being able to grow enough to pay back debt and the end of our financial system as we know it.\u00a0<\/em><\/div>\n<div class=\"entry-content\">\n<p><em>Yes, this was published a year ago, but it is still as relevant today as it was then.\u00a0 Good articles like this so rarely come out that it\u2019s worth preserving them for later when things fall apart to understand what happened.<\/em><\/p>\n<p>Related article: February 5, 2016\u00a0<a href=\"http:\/\/www.oftwominds.com\/blogfeb16\/chart-of-doom2-16.html\">The Chart of Doom: When Private Credit Stops Expanding<\/a>\u2026<\/p>\n<p><em>Alice Friedemann\u00a0\u00a0\u00a0<\/em><a href=\"http:\/\/www.energyskeptic.com\/\"><em>www.energyskeptic.com<\/em><\/a><em>\u00a0\u00a0author of \u201c<\/em><a href=\"http:\/\/www.springer.com\/us\/book\/9783319263731\"><em>When Trucks Stop Running: Energy and the Future of Transportation<\/em><\/a><em>, 2015, Springer]<\/em><\/p>\n<h3><strong>Eavis, P. February 3, 2016.\u00a0<em><a href=\"http:\/\/www.nytimes.com\/2016\/02\/04\/business\/dealbook\/toxic-loans-in-china-weigh-on-global-growth.html?_r=0&amp;module=Slide&amp;region=SlideShowTopBar&amp;version=SlideCard-4&amp;action=Click&amp;contentCollection=International%20Business&amp;slideshowTitle=Bad%20Loans%20in%20China&amp;currentSlide=4&amp;entrySlide=4&amp;pgtype=imageslideshow\">Toxic Loans Around the World Weigh on Global Growth<\/a><\/em>. New York Times.<\/strong><\/h3>\n<p>Beneath the surface of the global financial system lurks a multi-trillion-dollar problem that could sap the strength of large economies for years to come.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Toxic Loans Around the World Weigh on Global Growth [\u00a0Since 2008 people have been struggling to pay back increasing amounts of debt. China is the worst of all, with $5 to $6.6 trillion dollars of bad debt and $30 trillion overall debt, up from $9 trillion just 7 years ago, a staggering amount of money, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,11859,1357,12990,12250],"class_list":["post-23131","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-energy-skeptic","tag-global-growth","tag-peak-energy-and-resources","tag-toxic-loans"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23131"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23131\/revisions"}],"predecessor-version":[{"id":23132,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23131\/revisions\/23132"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}