{"id":29500,"date":"2018-01-07T16:52:00","date_gmt":"2018-01-07T21:52:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29500"},"modified":"2018-01-07T16:52:56","modified_gmt":"2018-01-07T21:52:56","slug":"global-debt-hits-record-233-trillion-up-16tn-in-9-months","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29500","title":{"rendered":"Global Debt Hits Record $233 Trillion, Up $16Tn In 9 Months"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-01-07\/global-debt-hits-record-233-trillion-16-trillion-9-months#comment-10961383\"><span class=\"field field--name-title field--type-string field--label-hidden\">Global Debt Hits Record $233 Trillion, Up $16Tn In 9 Months<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\">Last June <a href=\"https:\/\/www.zerohedge.com\/news\/2017-06-29\/global-debt-hits-new-record-high-217-trillion-327-gdp\">we reported\u00a0 <\/a>that according to the Institute of International Finance &#8211; perhaps best known for its periodic and concerning reports summarizing global leverage statistics &#8211; as of the end of 2016, in a period of so-called &#8220;coordinated growth&#8221;, global debt hit a new all time high of $217 trillion, over 327% of global GDP, and up $50 trillion over the past decade.<\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2017\/06\/29\/iif%20total%20debt%201.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2017\/06\/29\/iif%20total%20debt%201_0.png\" width=\"500\" height=\"334\" \/><\/a><\/p>\n<p>Six months later, on January 4, 2018, the IIF has released its latest global debt analysis, which reported that <strong>global debt rose to a record $233 trillion at the end of Q3 of 2017 between $63Tn in government, $58Tn in financial, $68TN in non-financial and $44Tn in household sectors, an total increase of $16 trillion increase in just 9 months. <\/strong><\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/IIF%20global%20debt%20q3%202017%20v2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/IIF%20global%20debt%20q3%202017%20v2.jpg\" alt=\"asd\" width=\"483\" height=\"357\" data-entity-type=\"file\" data-entity-uuid=\"9ffb45bf-594b-4e39-92bc-9d5b0e6a3127\" \/><\/a><\/p>\n<p>According <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-01-05\/global-debt-hits-record-233-trillion-but-debt-to-gdp-is-falling\">to the IIF<\/a>, <strong>private non-financial sector debt hit all-time highs in Canada, France, Hong Kong, South Korea, Switzerland and Turkey. <\/strong><\/p>\n<p>And yet, largely as a result of the ongoing Chinese crackdown on shadow banking, even as global debt rose to new record highs, the ratio of debt-to-GDP fell for the fourth consecutive quarter as economic growth accelerated. The ratio is now around 318%, nearly 10% below the high set in the first quarter of 2017.<\/p>\n<p>In the annual report, the IIF notes that &#8220;a combination of factors including synchronized above-potential global growth, rising inflation (China, Turkey), and efforts to prevent a destabilizing build-up of debt (China, Canada) have all contributed to the decline.&#8221;<\/p>\n<p>Still, while global GDP has enjoyed a period of accelerating growth, this may soon come to an end even as debt levels continue to rise. Meanwhile, <strong>the debt pile could act as a brake on central banks trying to raise interest rates, <\/strong>given worries about the debt servicing capacity of highly indebted firms and government, the IIF analysts wrote.<\/p>\n<p>And speaking of rates in 2018, the IIF pointed out that after several years of forecasters reducing their year-end rate predictions, 2018 is the first year in many when <a href=\"https:\/\/twitter.com\/IIF\/status\/949378767901863937\">&#8220;for a change<\/a>&#8221; forecasters are predicting a rebound in interest rates.\u00a0 Maybe this is the one year when &#8220;experts&#8221; will finally be right when it comes to interest rates.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/IIF%2010Y%20forecasts.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/IIF%2010Y%20forecasts.jpg\" alt=\"sdf\" width=\"483\" height=\"353\" data-entity-type=\"file\" data-entity-uuid=\"9351b1af-675b-4db7-b10a-88618afe1a19\" \/><\/a><\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global Debt Hits Record $233 Trillion, Up $16Tn In 9 Months Last June we reported\u00a0 that according to the Institute of International Finance &#8211; perhaps best known for its periodic and concerning reports summarizing global leverage statistics &#8211; as of the end of 2016, in a period of so-called &#8220;coordinated growth&#8221;, global debt hit a [&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":[353,364,9603,4318],"class_list":["post-29500","post","type-post","status-publish","format-standard","hentry","category-economics","tag-gdp","tag-global-debt","tag-institute-of-international-finance","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29500","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=29500"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29500\/revisions"}],"predecessor-version":[{"id":29502,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29500\/revisions\/29502"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}