{"id":5347,"date":"2015-02-06T06:57:23","date_gmt":"2015-02-06T11:57:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5347"},"modified":"2015-02-06T06:57:23","modified_gmt":"2015-02-06T11:57:23","slug":"chinas-monumental-debt-trap-why-it-will-rock-the-global-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5347","title":{"rendered":"China\u2019s Monumental Debt Trap\u2014-Why It Will Rock The Global Economy"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/chinas-monumental-debt-trap-why-it-will-rock-the-global-economy\/\" target=\"_blank\">China\u2019s Monumental Debt Trap\u2014-Why It Will Rock The Global Economy<\/a><\/h3>\n<p>Bloomberg News finally did something useful this morning by publishing some startling graphs from McKinsey\u2019s latest update on the worldwide debt tsunami. If you don\u2019t mind a tad of rounding, the planetary debt\u00a0total now stands at $200 trillion compared to world GDP of just $70 trillion.<\/p>\n<figure class=\"inline-image inline-media center \"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/media.gotraffic.net\/images\/ihS1OnwNQ_tY\/v11\/-1x-1.png\" alt=\"\" width=\"562\" height=\"455\" data-orientation=\"square\" \/><figcaption class=\"inline-media__info\">\n<div class=\"inline-media__credit\">Source: McKinsey<\/div>\n<p>The implied\u00a02.9X global leverage\u00a0ratio is daunting in itself. But now\u00a0would be an excellent time to recall the lessons of Greece because the true implications are far more ominous.<\/p>\n<p>Today\u2019s raging crisis\u00a0in Greece\u00a0was hidden from view for many years in the run-up to its first EU bailout in 2010 because the denominator of its reported leverage ratio\u2014national income or GDP\u2014\u2013was artificially inflated by the debt fueled boom underway in its economy.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s Monumental Debt Trap\u2014-Why It Will Rock The Global Economy Bloomberg News finally did something useful this morning by publishing some startling graphs from McKinsey\u2019s latest update on the worldwide debt tsunami. If you don\u2019t mind a tad of rounding, the planetary debt\u00a0total now stands at $200 trillion compared to world GDP of just $70 [&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":[130,195,3257,279,284,353,1167,481],"class_list":["post-5347","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-debt","tag-debt-trap","tag-eu","tag-european-union","tag-gdp","tag-greece","tag-leverage"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5347","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=5347"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5347\/revisions"}],"predecessor-version":[{"id":5348,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5347\/revisions\/5348"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}