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Global debt at worst levels since the Napoleonic Wars
Posted on 5/1/24 at 11:14 am
Posted on 5/1/24 at 11:14 am
What can’t go on forever won’t?
And of course, US fiscal policy is supercharging the worldwide trend:
LINK with video discussion as well as text
quote:
The massive volumes of debt piling up around the globe forced the president of the World Economic Forum to reach back more than 200 years for a comparable period. In an interview Sunday with CNBC at a WEF conference in Saudi Arabia, Borge Brende warned overall debt is approaching the world’s total economic output.
“ We haven’t seen this kind of debt since the Napoleonic Wars,” he said. “We’re getting close to 100% of global GDP in debt.”
And of course, US fiscal policy is supercharging the worldwide trend:
quote:
In fact, 2024 will mark the year that spending to service U.S. debt will exceed defense outlays, the Congressional Budget Office has said.
LINK with video discussion as well as text
20
Posted on 5/1/24 at 11:16 am to DesScorp
But 81 million people voted for dementia man.
Posted on 5/1/24 at 11:17 am to DesScorp
Bbbrrrrrrrr…$$$$$$$$$$$
Posted on 5/1/24 at 11:18 am to DesScorp
Print more and let it ride. frick it.
Posted on 5/1/24 at 11:20 am to DesScorp
white mans time is almost up.
Posted on 5/1/24 at 11:20 am to DesScorp
How can the world be 100% of GDP in debt? Like seems to me if everyone owes someone.... there's got to be someone who isn't? Seems like a net zero kind of things to me. Like someone has to be the giver of the debt and be at a surplus?
Posted on 5/1/24 at 11:21 am to DesScorp
Hell, probably true just based on auto loans and mortgages in the U.S. Public debt is out of sight, though.
Posted on 5/1/24 at 11:21 am to DesScorp
Every 4-5 seconds the USA goes another 100k in debt
60 seconds a min.
60 min an hour.
24 hours a day.
7 days a week.
52 weeks a year.
Every year.
60 seconds a min.
60 min an hour.
24 hours a day.
7 days a week.
52 weeks a year.
Every year.
Posted on 5/1/24 at 11:22 am to DesScorp
Embarrassing to have that large of a portion of that chart. Our government is on track for the worst financial run in history
Posted on 5/1/24 at 11:26 am to DesScorp
That graphic is insane/depressing/maddening
Posted on 5/1/24 at 11:37 am to DesScorp
Way too much debt. But the person who made the graph has an agenda. They note that China’s debt is issued by local government to fund infrastructure. Then it should also note that ~70% of our debt is to the US public.
Here are who actually hold our debt and how much (it’s still a lot at $7.7T):
Japan $1,1T
China $859B
United Kingdom $668B
Belgium $331B
Luxembourg $318B
Switzerland $290B
The Cayman Islands $285B
Canada $254B
Ireland $253B
Taiwan $234B
Here are who actually hold our debt and how much (it’s still a lot at $7.7T):
Japan $1,1T
China $859B
United Kingdom $668B
Belgium $331B
Luxembourg $318B
Switzerland $290B
The Cayman Islands $285B
Canada $254B
Ireland $253B
Taiwan $234B
Posted on 5/1/24 at 11:39 am to DesScorp
Russia is pretty much debt free compared to everyone else.
Posted on 5/1/24 at 11:41 am to DesScorp
quote:What’s my monthly gown be?
Global debt at worst levels since the Napoleonic Wars
Posted on 5/1/24 at 12:12 pm to DesScorp
To whom, might I ask, are these debts owed...
Just kidding, I already know...
Do you?
Just kidding, I already know...
Do you?
Posted on 5/1/24 at 12:28 pm to DesScorp
1. Faith in God
2. Potable Water
3. Lead + Lead Delivery System
4. Land
5. Family
6. Food
7. Barter items.
The materialism and debt society has kept you distracted, enslaved, and doing the financier-class's bidding. Increasing the above will get you out of that matrix. Good luck!
2. Potable Water
3. Lead + Lead Delivery System
4. Land
5. Family
6. Food
7. Barter items.
The materialism and debt society has kept you distracted, enslaved, and doing the financier-class's bidding. Increasing the above will get you out of that matrix. Good luck!
Posted on 5/1/24 at 1:12 pm to DesScorp
So who is going to come collect?
Posted on 5/1/24 at 1:16 pm to DesScorp
The average American mortgage is around $250K. The average income of American home owners is around $107K last year. This means the average homeowner, if their mortgage is their only debt, is close to 2.5 more than their income. The nation over all is at what, 2 times more? Its all about perspective. Most of the nations debt is owed to folks with 401Ks. About 70% of it is owed to Americans who loaned the money to the US because it is, was and will be for the foreseeable future, the safest investment available. The debt is bad...compared to the nations income it is far better than most families....and compared to the collective wealth of the US? It ain't nearly as bad as any family I ever knew. Its all about perspective. The number is massive..tolo big to wrap your head around...but in comparison to what individuals owe compared to income and their wealth it is miniscule as a %.....
Posted on 5/1/24 at 1:28 pm to DesScorp
In 2022 the gross national income...income....was $26 trillion.
The nations debt was $31 Trillion.
That would be akin to earning $100k a year and the only debt you had would be the $116k you owe on your home. Most people would consider anyone in that little debt compared to income in pretty good shape. They'd be in FAR better shape than the average American.....
The nations debt was $31 Trillion.
That would be akin to earning $100k a year and the only debt you had would be the $116k you owe on your home. Most people would consider anyone in that little debt compared to income in pretty good shape. They'd be in FAR better shape than the average American.....
Posted on 5/1/24 at 1:34 pm to DesScorp
quote:
World Economic Forum
So the same people telling us we will own nothing and be happy… suspicious, who is benefiting from all this?
Posted on 5/1/24 at 1:36 pm to DesScorp
We are about to free the frick out of somebody's arse. Anyone can get it, too.
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