What's new
US Message Board - Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

DEBT CRISIS LOOMS?

Sonny Clark

Diamond Member
Joined
Dec 12, 2014
Messages
51,089
Reaction score
5,914
Points
1,870
Location
Gadsden Alabama
Can anyone really wrap their heads around a $57Trillion debt? I can't. It's an enormous sum of money, and one that is sure to grow even larger. Can such an astronomical amount ever be fully repaid? Well, that's the current increase in global debt since the end of 2007, which was the beginning of the global financial crisis. It has taken just eight years for the global debt to increase by $57Trillion, not total debt, just increased debt.

Global Debt Has Risen by $57 Trillion Since the Financial Crisis, Which Is Scary -- http://www.nytimes.com/2015/02/06/u...e=MoreInSection&pgtype=article&abt=0002&abg=0

(1) -- Global debt has risen from 269 percent of global economic output to 286 percent.
(2) -- A country with high debt levels can get into economic trouble regardless of whether its debts are most heavily owed by the government (Greece, Italy), households (Spain, the United States), or financial institutions (Ireland, Britain).
(3) -- China has seen its ratio of debt to economic output rise by a whopping 83 percentage points since 2007, according to the calculations by the McKinsey Global Institute, to 217 percent of G.D.P., with increases in government, corporate and household debt.
(4) -- Japan, the most indebted country in the world, at 400 percent of G.D.P. Debt is up 64 percentage points since 2007.
(5) -- Total debt for the real economy is up by 16 percentage points in the United States, to 233 percent of G.D.P., household debt is actually down by 18 percentage points and corporate debt by 2 percentage points. A rise in public debt since 2007, in other words, largely offset declines in private-sector debt.
And perhaps most promising for the United States, our financial institutions have become significantly less leveraged, with financial-sector debt falling by 24 percentage points of G.D.P. by McKinsey’s calculations.

Is astronomical debt the new norm? Will it eventually cause a very harsh and severe global financial crisis, the likes of which has never been seen? Who will the survivors be if such a financial collapse does occur?
 

gipper

Libertarian/Anarchist
Gold Supporting Member
Joined
Jan 8, 2011
Messages
43,353
Reaction score
14,435
Points
2,250
Of course, much of this debt is nonredeemable. When defaults occur in a big way, the worldwide economy will crash.
 

Moonglow

Diamond Member
Joined
Jun 27, 2011
Messages
171,146
Reaction score
28,835
Points
2,220
Location
sw mizzouri
It's been a while since we had a real economic crash..it helps to weed out the weak...
 

gipper

Libertarian/Anarchist
Gold Supporting Member
Joined
Jan 8, 2011
Messages
43,353
Reaction score
14,435
Points
2,250
It's been a while since we had a real economic crash..it helps to weed out the weak...
If only the big unlimited government you so admire, would allow a "weeding out." No weeding out will occur as long as our government is owned by the wealthy.

Your Messiah believes in bailing out the wealthy...so they can give him and his party campaign donations.
 

Moonglow

Diamond Member
Joined
Jun 27, 2011
Messages
171,146
Reaction score
28,835
Points
2,220
Location
sw mizzouri
It's been a while since we had a real economic crash..it helps to weed out the weak...
If only the big unlimited government you so admire, would allow a "weeding out." No weeding out will occur as long as our government is owned by the wealthy.

Your Messiah believes in bailing out the wealthy...so they can give him and his party campaign donations.
Bailouts have been done by repubs also, so I see no chance of rich men not getting our tax money to exist..Sicking isn't it...
 

gipper

Libertarian/Anarchist
Gold Supporting Member
Joined
Jan 8, 2011
Messages
43,353
Reaction score
14,435
Points
2,250
It's been a while since we had a real economic crash..it helps to weed out the weak...
If only the big unlimited government you so admire, would allow a "weeding out." No weeding out will occur as long as our government is owned by the wealthy.

Your Messiah believes in bailing out the wealthy...so they can give him and his party campaign donations.
Bailouts have been done by repubs also, so I see no chance of rich men not getting our tax money to exist..Sicking isn't it...
True enough, but you are fine with BO bailing out. If Rs do the same, you bitch about.
 

Moonglow

Diamond Member
Joined
Jun 27, 2011
Messages
171,146
Reaction score
28,835
Points
2,220
Location
sw mizzouri
It's been a while since we had a real economic crash..it helps to weed out the weak...
If only the big unlimited government you so admire, would allow a "weeding out." No weeding out will occur as long as our government is owned by the wealthy.

Your Messiah believes in bailing out the wealthy...so they can give him and his party campaign donations.
Bailouts have been done by repubs also, so I see no chance of rich men not getting our tax money to exist..Sicking isn't it...
True enough, but you are fine with BO bailing out. If Rs do the same, you bitch about.
I bitched about it since Reagan bailed out Chrysler..GW bailed out the savings and loan and I was so pissed to see TARP....Doesn't do any good.......only gives you hypertension to rant about it....
 

gipper

Libertarian/Anarchist
Gold Supporting Member
Joined
Jan 8, 2011
Messages
43,353
Reaction score
14,435
Points
2,250
It's been a while since we had a real economic crash..it helps to weed out the weak...
If only the big unlimited government you so admire, would allow a "weeding out." No weeding out will occur as long as our government is owned by the wealthy.

Your Messiah believes in bailing out the wealthy...so they can give him and his party campaign donations.
Bailouts have been done by repubs also, so I see no chance of rich men not getting our tax money to exist..Sicking isn't it...
True enough, but you are fine with BO bailing out. If Rs do the same, you bitch about.
I bitched about it since Reagan bailed out Chrysler..GW bailed out the savings and loan and I was so pissed to see TARP....Doesn't do any good.......only gives you hypertension to rant about it....
Good.

Now bitch about Big Ears.
 

depotoo

Diamond Member
Joined
Sep 9, 2012
Messages
40,707
Reaction score
13,395
Points
2,280
To put those trillions into perspective, our earth is said by scientists to only be 4.57 billion years old
 

USMB Server Goals

Total amount
$201.00
Goal
$350.00

New Topics

Most reactions - Past 7 days

Forum List

Top