{"id":6173,"date":"2015-03-03T06:34:29","date_gmt":"2015-03-03T11:34:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6173"},"modified":"2015-03-03T06:34:29","modified_gmt":"2015-03-03T11:34:29","slug":"global-debt-is-more-than-twice-as-big-as-the-entire-world-economy-what-does-it-mean","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6173","title":{"rendered":"Global Debt Is MORE THAN TWICE AS BIG As the Entire World Economy \u2026 What Does It Mean?"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.washingtonsblog.com\/2015\/03\/debt.html\" target=\"_blank\">Global Debt Is MORE THAN TWICE AS BIG As the Entire World Economy \u2026 What Does It Mean?<\/a><\/h3>\n<h3>The Guardian\u00a0<a title=\"reports\" href=\"http:\/\/www.theguardian.com\/news\/datablog\/2015\/feb\/05\/global-debt-has-grown-by-57-trillion-in-seven-years-following-the-financial-crisis\" target=\"_blank\">reports<\/a>\u00a0that global debt has grown by $57 trillion dollars \u2013 to\u00a0<strong>$199 trillion<\/strong>\u00a0dollars \u2013 since the 2008 financial crisis.<\/h3>\n<p>How much is that?\u00a0 It\u2019s a big number \u2026 but what does it actually\u00a0<em>mean<\/em>?<\/p>\n<p>The Guardian notes that global debt is now more than\u00a0<em>twice the size<\/em>\u00a0of the\u00a0<em>entire global economy<\/em>:<\/p>\n<blockquote><p>Total debt as a share of GDP stood at\u00a0<strong>286%<\/strong>\u00a0in the second quarter of 2014 compared with 269% in the fourth quarter of 2007.<\/p><\/blockquote>\n<p>(That\u2019s more than 2.8 times the size of the world economy).<\/p>\n<p>And it will only keep getting worse:<\/p>\n<blockquote><p>Government debt-to-GDP ratios will to\u00a0<strong>continue to rise over the next five years<\/strong>\u00a0in a number of countries including Japan, the US and most European countries \u2026.<\/p><\/blockquote>\n<p>While the mainstream press talks about \u201cdeleveraging\u201d, the fact is that many households are going deeper into debt:<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Debt Is MORE THAN TWICE AS BIG As the Entire World Economy \u2026 What Does It Mean? The Guardian\u00a0reports\u00a0that global debt has grown by $57 trillion dollars \u2013 to\u00a0$199 trillion\u00a0dollars \u2013 since the 2008 financial crisis. How much is that?\u00a0 It\u2019s a big number \u2026 but what does it actually\u00a0mean? The Guardian notes that [&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":[195,284,353,364,366,380,3771,452,827,3246],"class_list":["post-6173","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-european-union","tag-gdp","tag-global-debt","tag-global-economy","tag-government-debt","tag-guardian","tag-japan","tag-united-states","tag-world-economy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6173","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=6173"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6173\/revisions"}],"predecessor-version":[{"id":6174,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6173\/revisions\/6174"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}