{"id":29551,"date":"2018-01-09T09:14:52","date_gmt":"2018-01-09T14:14:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29551"},"modified":"2018-01-09T09:14:52","modified_gmt":"2018-01-09T14:14:52","slug":"world-debt-is-rising-nearly-three-times-as-fast-as-total-global-wealth","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29551","title":{"rendered":"World Debt Is Rising Nearly Three Times As Fast As Total Global Wealth"},"content":{"rendered":"
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World Debt Is Rising Nearly Three Times As Fast As Total Global Wealth<\/a><\/h3>\n

Some nasty dark clouds are forming on the financial horizon as total world debt is increasing nearly three times as fast as total global wealth.\u00a0 \u00a0But, that\u2019s okay because no one cares about the debt, only the assets matter nowadays.\u00a0 You see, as long as debts are someone else\u2019s problem, we can add as much debt as we like\u2026 or so the market believes.<\/span><\/p>\n<\/header>\n

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Now, you don\u2019t have to take my word for it that the market only focuses on the assets, this comes straight from the top echelons of the financial world.\u00a0 According to Credit Suisse Global Wealth Report 2017, total global wealth increased to a new record of $280 trillion in 2017.\u00a0 Here is Credit Suisse\u2019s summary of the Global Wealth 2017: The Year In Review<\/strong><\/em><\/a>:<\/p>\n

According to the eighth edition of the Global Wealth Report, in the year to mid-2017, total global wealth rose at a rate of 6.4%, the fastest pace since 2012 and reached USD 280 trillion, a gain of USD 16.7 trillion<\/strong>. This reflected widespread gains in equity markets matched by similar rises in non-financial assets, which moved above the pre-crisis year 2007\u2019s level for the first time this year. Wealth growth also outpaced population growth,<\/strong> so that global mean wealth per adult grew by 4.9% and reached a new record high of USD 56,540 per adult.<\/p>\n

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This year\u2019s report focuses in on Millennials and their wealth accumulation prospects. Overall the data point to a \u201cMillennial disadvantage\u201d, comprising among others tighter mortgage rules, growing house prices, increased income inequality and lower income mobility, which holds back wealth accumulation by young workers and savers in many countries. However, bright spots remain, with a recent upsurge in the number of Forbes billionaires below the age of 30 and a more positive picture in China and other emerging market<\/strong>s<\/strong>.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

World Debt Is Rising Nearly Three Times As Fast As Total Global Wealth Some nasty dark clouds are forming on the financial horizon as total world debt is increasing nearly three times as fast as total global wealth.\u00a0 \u00a0But, that\u2019s okay because no one cares about the debt, only the assets matter nowadays.\u00a0 You see, […]<\/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":[195,364,12410,12073],"class_list":["post-29551","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-global-debt","tag-global-wealth","tag-srsrocco-report"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29551","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=29551"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29551\/revisions"}],"predecessor-version":[{"id":29552,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29551\/revisions\/29552"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}