Joe Ciolli writes at Business Insider that a new report claims worldwide debt climbed to a new record in 2017:
Global debt soared to a record $233 trillion in the third quarter of 2017, according to a report from the Institute of International Finance.
That marked a $16.5 trillion — or 8% — increase from the end of 2016. It also reflected record highs for private nonfinancial sector debt in Canada, France, Hong Kong, Korea, Switzerland, and Turkey.
One possible side effect of this massive debt burden could be a reluctance from central banks to tighten lending conditions, the IIF says. It points out in the report that because a prolonged low-interest-rate environment contributed to the swelling of debt levels, sovereign banks may be reluctant to rock the boat by hiking.
Read the rest of the story at Business Insider.
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3 comments:
Good, we're not alone. Let's all declare bankruptcy, overtake our governments and start over. Keep Trump as Big Leader.
SO lets give a tax cut to the rich so that our kids can pay the , what will be, an even larger debt.
Well if the whole world is in dept. who owes whom what ? Are with not tithing GOD enough or do we owe aliens money too ? Considering money is not real anymore the only real deficit will be that of human life and toil. That seems to be the only measure of anything anymore.
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