{"id":49658,"date":"2019-11-16T12:50:47","date_gmt":"2019-11-16T17:50:47","guid":{"rendered":"https:\/\/olduvai.ca\/?p=49658"},"modified":"2019-11-16T12:50:54","modified_gmt":"2019-11-16T17:50:54","slug":"global-debt-to-hit-all-time-high-255-trillion-330-of-world-gdp","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=49658","title":{"rendered":"Global Debt To Hit All Time High $255 Trillion, 330% Of World GDP"},"content":{"rendered":"\n

Global Debt To Hit All Time High $255 Trillion, 330% Of World GDP<\/a><\/h3>\n\n\n\n

There are three certainties in life: death, taxes and that global debt will keep rising in perpetuity.<\/p>\n\n\n\n

Addressing the third, yesterday the Institute of International Finance reported <\/a>that global debt has now hit $250 trillion and is expected to hit a record $255 trillion at the end of 2019, up $12 trillion from $243 trillion at the end of 2018, and nearly $32,500 for each of the 7.7 billion people on planet.<\/p>\n\n\n\n

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“With few signs of slowdown in the pace of debt accumulation, we estimate that global debt will surpass $255 trillion this year,” the IIF said in the report<\/a>.<\/p>\n\n\n\n

The surge was driven by a $7.5 trillion surge in the first half of the year which was used to reverse the global slowdown that sent stocks into a bear market in 2018, and which shows no signs of slowing. Around 60% of that jump came from the United States and China. Government debt alone is set to top $70 trillion this year, as will overall debt (government, corporate and financial sector) of emerging-market countries.<\/p>\n\n\n\n

The total debt breakdown as of Dec. 31 is as follows:<\/p>\n\n\n\n