Global Debt Now $200 Trillion!
By: GoldCore
GoldSeek.com
Thursday, 14 May 2015
– McKinsey Institute says global debt is $199 trillion and unsustainable
– Total global debt is $27,204 for every person living today
– All major economies have “higher levels of borrowing relative to GDP” than in 2007
– 3 risk areas – rising Chinese debt, government and household debt
– Debt report ignores U.S. unfunded liabilities of over $100 trillion
– Major cause of risky, unprecedented debt levels – QE and ultra loose monetary policies not acknowledged
– Risk of new global financial crisis – wealth taxes, currency wars and devaluations and bail-ins
Debt is booming
Global debt is now in the region of $200 trillion. The McKinsey Global Institute recently published a report highlighting the bloated, unsustainable levels of debt that have been accumulated globally and the huge risks when interest rates begin to rise again.
McKinsey concluded that total global debt was $199 trillion and the little covered report was released in February – 3 months ago – meaning that the figure is likely over $200 trillion. With a global population of 7.3 billion this works out out at over $27,200 of debt for every man, woman and child alive in the world today.
Almost 29% of that debt – $57 trillion – has been accumulated in the relative short period since the financial crisis erupted in 2007 – just 8 years.
This has increased the total debt-to-GDP ratio by 17% and “poses new risks to financial stability and may undermine global economic growth.”
The Rest…HERE
