Soaring Global Debt – The Reality Check in Numbers
By: GoldCore
GoldSeek.com
Monday, 23 November 2015
The fact that global debt is growing throughout the world is widely acknowledged and well documented. However, when faced with the numbers, the magnitude of the problem is still quite shocking to read. An article last week in Washington’s blog gives us a stark and timely reminder of those facts. The volatile geo-political environment we are entering into, coupled with this growth-stifling debt, makes for a dangerous economic combination.
“The debt to GDP ratio for the entire world is 286%. In other words, global debt is almost 3 times the size of the world economy. Both public and private debt are exploding and – despite what mainstream economists think – 141 years of history shows that excessive private debt can cause depressions”.
These global debt figures cannot be ignored. Indeed, many erudite economic commentators have been highlighting the reckless monetary policies being pursued by governments around the world that is feeding our debt crisis.
“The underlying cause of this debt glut is the $12 trillion of free or cheap money created by central banks since 2009, combined with near-zero interest rates. When the real price of money is close to zero, people borrow and worry about the consequences later.” Paul Mason (See: “Apocalypse Now: Has Next Giant Financial Crash Already Begun?”)
The Rest…HERE
