The Global Debt Reckoning
Total global debt at $230 trillion. Total world debt over 300 percent annual GDP. There is no escape from a reckoning with debt markets.
from My Budget 360
Total global debt crossed a troubling event horizon by going past the $200 trillion mark last year. Given the latest figures we are likely well above a total global debt of $230 trillion based on a comprehensive study done by ING last year. The banking sector rummages for every possible way of accessing debt. Global central banks from the Fed to the ECB to the Bank of Japan are now fully engaged in a digital printing end game. It isn’t so much the startling debt figures that are presented but the GDP that is actually backing up this insurmountable level of debt. The latest data shows that total world debt is running above 313 percent of annual GDP. To put this into perspective the US meltdown occurred when household debt reached about 120 percent total debt to annual GDP. The only way to keep payments current is with a low rate environment. There is no choice. So central banks will do everything they can to print this debt into oblivion. In many ways this is a reason that we have seen a rush into assets from commodities, real estate, art, Bitcoins, and anything that isn’t just a bunch of 1s and 0s on a central bank computer easily changed by the whims of politicians and those connected to them.
Continue Reading at MyBudget360.com…
Source: http://financialsurvivalnetwork.com/2014/02/the-global-debt-reckoning/?utm_source=rss&utm_medium=rss&utm_campaign=the-global-debt-reckoning
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