- Global debt bubble hits new all time high - over $237 trillion - Global debt increased 10% or $21 tn in 2017 to nearly a quarter quadrillion USD - Increase in debt equivalent to United States' ballooning national debt - Global debt up $50 trillion in decade & over 327% of global GDP - $750 trillion of bank derivatives means global debt over $1 quadrillion - Gold will be ‘store of value’ in coming economic contraction - Global debt is the mother of all bubbles
Global debt has now reached over 327% of global GDP, $237 trillion. Prior to the financial crisis it was less that $150 trillion. The amount by which it has surged in just one year is the same amount as the ballooning national debt of the United States.
The response of our leaders, central bankers and financial thinkers to this latest data?
It was good news as it showed that thanks to global growth the ratio of debt-to-gross domestic product fell for the fifth consecutive quarter. No irony in the fact that the economic growth is entirely funded by debt itself - adding another shaky layer to the house of cards.