We have it on superb authority — the Institute of International Finance — that the world is presently $247 trillion in debt.
That figure, dear reader, represents a record high.
Global debt has surged $9 trillion since Jan. 1 alone… and $30 trillion since the close of 2016.
Were you aware that global debt is rising nearly three times the rate of global wealth?
Meantime, global interest rates remain near record lows — despite recent nods in the other direction.
Never in history has debt scaled such heights… never have interest rates plumbed such depths.
Each fact is remarkable in itself. But taken together?
Today we connect the dots… see how they all tuck together… and tease out the implications.
Richard Sylla professes economics at New York University.
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2 comments:
$247 trillion in Dept to who? Wouldn't someone or a group of people be owed $247T?
10:59
Believe it or not, the people to whom the debt is owed are the secretive international banking families who own the ECB, FED, BOJ, and the IMF. They are owed the money because they took the time to PRINT it (hired secretaries to type the numbers into computer screens). Therefore, everyone owes them the principal which they created out of thin air, plus the interest collected monthly.
Can you believe it?
Crazy isn't it?
The very definition of alchemy: Create wealth from nothing.
Thank you Talmud.
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