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re: Global debt at worst levels since the Napoleonic Wars
Posted on 5/1/24 at 1:57 pm to BigBinBR
Posted on 5/1/24 at 1:57 pm to BigBinBR
quote:
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.
They have an agenda and the public is prone to misunderstanding because the number is too big to conceptualize. It would seem from some of the posts when the debt is the topic that the money has vanished into the ether. Almost ALL of the debt racked up around the world, at least in the first world, is similar in nature to having a mortgage on a home. It is a bad business decision to use YOUR money when you have people who need a safe place to place THEIR money and the safest places on the planet are in first world economies. It'd be nice to buy a house with cash.....but it is not a sound financial decision to tie that much cash up into one basket. At times it is entirely possible to pay less for the mortgage than the money can make in almost risk free investments. It is almost always the case that the money is needed for more immediate needs.
Thats what people are thinking....the nation has a massive debt...it does indeed...and in the same second they forget that they themselves are, most likely, in far worse shape debt wise than the nation. There is a reason consumers pay what, 7% for an auto loan and the nation pays what, 1% on a bond? Half that at times? Its all about risk. The consumer is risky, the nation ain't close....
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