{"id":8222,"date":"2015-05-18T09:32:02","date_gmt":"2015-05-18T14:32:02","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8222"},"modified":"2015-05-18T09:32:02","modified_gmt":"2015-05-18T14:32:02","slug":"the-debt-to-gdp-ratio-for-the-entire-world-286-percent","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8222","title":{"rendered":"The Debt To GDP Ratio For The Entire World: 286 Percent"},"content":{"rendered":"<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-debt-to-gdp-ratio-for-the-entire-world-286-percent\" target=\"_blank\">The Debt To GDP Ratio For The Entire World: 286 Percent<\/a><\/h3>\n<p>Did you know that there is more than $28,000 of debt for every man, woman and child on the entire planet?\u00a0 And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is going to be much larger than that.\u00a0 If we took<strong>everything<\/strong>\u00a0that the global economy produced this year and\u00a0<strong>everything<\/strong>\u00a0that the global economy produced next year and used it to pay all of this debt, it still would not be enough.\u00a0 According to a recent report put out by the McKinsey Global Institute entitled \u201c<a title=\"Debt and (not much) deleveraging\" href=\"http:\/\/www.mckinsey.com\/insights\/economic_studies\/debt_and_not_much_deleveraging\" target=\"_blank\">Debt and (not much) deleveraging<\/a>\u201c, the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today.\u00a0 This is the largest mountain of debt in the history of the world, and those numbers mean that we are in\u00a0<strong>substantially worse condition<\/strong>\u00a0than we were just prior to the last financial crisis.<\/p>\n<p>When it comes to debt, a lot of fingers get pointed at the United States, and rightly so.\u00a0 Just prior to the last recession, the U.S. national debt was sitting\u00a0<a title=\"at about 9 trillion dollars\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-90000-square-foot-100-million-dollar-home-that-is-a-metaphor-for-america\">at about 9 trillion dollars<\/a>.\u00a0 Today, it has crossed\u00a0<a title=\"the 18 trillion dollar mark\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-90000-square-foot-100-million-dollar-home-that-is-a-metaphor-for-america\">the 18 trillion dollar mark<\/a>.\u00a0 But of course the U.S. is not the only one that is guilty.\u00a0 In fact, the McKinsey Global Institute says that debt levels have grown in all major economies since 2007.\u00a0 The following is an excerpt\u00a0<a title=\"from the report\" href=\"http:\/\/www.mckinsey.com\/insights\/economic_studies\/debt_and_not_much_deleveraging\" target=\"_blank\">from the report<\/a>\u2026<\/p>\n<blockquote><p>Seven years after the bursting of a global credit bubble resulted in the worst financial crisis since the Great Depression, debt continues to grow. In fact, rather than reducing indebtedness, or deleveraging,\u00a0<strong>all major economies today have higher levels of borrowing relative to GDP than they did in 2007<\/strong>. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points (Exhibit 1). That poses new risks to financial stability and may undermine global economic growth.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Debt To GDP Ratio For The Entire World: 286 Percent Did you know that there is more than $28,000 of debt for every man, woman and child on the entire planet?\u00a0 And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is [&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":[195,2027,2310,312,353,364,1264],"class_list":["post-8222","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-deleveraging","tag-depression","tag-financial-crisis","tag-gdp","tag-global-debt","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8222","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=8222"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8222\/revisions"}],"predecessor-version":[{"id":8223,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8222\/revisions\/8223"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}