Global borrowing topped a record $300 trillion last year
Major economies that fail to address their mounting debt issues will die a “fiscal death,” the head of investment and wealth advisory Laffer Tengler Investments, Arthur Laffer, has warned.
In an interview with CNBC this week, he predicted a “decade of debt,” adding that the borrowing crisis has embraced both developed and emerging countries, and it is not going to “end well.”
Global debt has surged by $100 trillion from a decade ago and hit a record of $307.4 trillion last September, amid the biggest surge in global interest rates in 40 years, according to the economist.
Wealthy countries such as the US, UK, France, and Japan account for more than 80% of that increase due to their uncontrolled accumulation of debt. China, India, and Brazil saw the most pronounced growth of borrowings among emerging markets.
“I would expect that some of the bigger countries that don’t address their debt issues will die a slow fiscal death,” Laffer said, adding that some emerging economies “could quite conceivably go bankrupt.” While low-income countries are at high risk of debt distress, repaying debt would be particularly problematic for high-income countries due to an aging population and a lack of workforce, the economist warned.
The most recent report by the Institute of International Finance shows that the share of debt has hit a staggering 336% of global GDP compared to an average debt-to-GDP ratio of 110% in 2012 for advanced economies, and 35% for emerging markets.
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Who is issuing this debt??
The printer goes BRRRRRRRTTT!
https://brrr.money/
They don’t even have to print it. The Fed just cranks up the computer and asks the banks how many zeros they want to borrow this week. The only people that do any work for these zeros are the public that the banks loan the money to.
“If something cannot go on for ever, it will stop.”
-Herbert Stein
Right you are, Herb.
The question then is, what happens next?
Ammo up.
Has to be globalists.
People have been talking about this for years with no collapse. Don’t think it’ll ever happen, life will just keep getting worse for all of us while those responsible will be just fine borrowing forever.
Yeah, I agree. This will continue. It will never end. The poor will get poorer, and the rich will get richer. All the financial markets are fake, especially the stock markets. The rich who own most of the stocks will get richer as stocks continue to rise regardless of how bad things get. Bad news is good news for stocks. Gold and silver will not go much higher than their current prices, in my opinion. I don’t care what all of the internet precious metal pundits say. They’re wrong. They just don’t understand how evil this world is.
It cannot continue. At some point it all collapses, when that takes place nobody really knows or knows what will trigger it.
Evil always does what it does best and thats destroy everything its allowed to infest. Nowhere in history has any society that became so saturated with evil, corruption and degeneracy lasted.
So no, things as you know it will not continue. Ignore it at your peril
I’m not ignoring it, and I agree with you that it cannot continue. I’ve been concerned for over 20 years now. I just wonder how much more evil this world has to get before it finally ends.
I see the genocide of the innocent Palestinian people in Gaza and wonder why some other country doesn’t intervene. It breaks my heart.
Evil never stops or rests… Its gonna get a lot worse yet.
The sad part… is that people in the ‘west’ have been conditioned to think that speaking out, protesting, are ineffective and that voting moar harderer is the way to go. People in the west will simply not react and openly reject the evil of the day, eg the last three years.
Bread and circuses will continue right up until the collapse.
Until electronic and mail in balloting are banned voting is pretty much a waste of time.
No such thing as an “innocent” Palestinian. Evil warlike subhumans.
Israel created Hamas and funds them. Israel has a long history of false flag attacks—the King David hotel bombing (done by Israel’s future leaders), the Lavon Affair bombings in Egypt in 1954, the USS Liberty attack in 1967, and of course 9/11. Those are just some of the ones we know about. The October 7th attack narrative is ridiculous. We are asked to believe that hundreds of terrorists just waltzed over the most secure border in history, and then spent seven hours rampaging through Israel with no appreciable Israel military response. Really? That is supposed to make sense to us. Of course when the Israeli military did finally respond, they indiscriminately rocketed Israeli houses and cars, ratcheting up the death toll, obviously on purpose.
Israel IS the Deep State.
Like this “evil” Palestinian girl who got blasted onto protruding rebar?
The Palestinians aren’t innocent.
Are you?
Yes, it will break down and come to a conclusion sooner or later. It always does.
Read Revelation chapter 18. The elite(vermin) say goodbye-forever!
Money always fails sooner or later. Put your trust in God; not money.
It is just sick.
If you read we just GIBS the money away because it does not belong to them and they like to see us LOSE everything. You have COMMIES wuling you up there and am surprised they have not been hanged or shot (firing squad).
You can still call them Jews in this country.
Debt is enjoying today the benefit of tomorrows work .
We will have to work hundreds of years(?) to pay off this accumulated debt and each day of it will be to sacrifice any benefit and enjoyment of that time.
Arthur Laffer, of the ‘Laffable Curve’–If you tax the rich too much, they lose interest in making money! boo hoo.
cut taxes, print money! easy peasey!