The Ticking Timebomb of Global Debt

Current projections estimate that, by the end of 2020, global debt will reach $255 TRILLION.

How does that make you feel?

Do you think this could have been avoided?

Can it ever be paid back, or is it an unavoidable fact of modern economies that spending will surpass GDP?

Source: https://www.cnbc.com/2019/11/15/global-debt-surged-to-a-record-250-trillion-in-the-first-half-of-2019-led-by-the-us-and-china.html

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While those numbers sound astronomical, it seems to be ‘acceptable’. It’s almost as if it’s “only on paper” and not a real concern for the governing bodies. Our lives go on as normal each day, though our taxes do go up and we pay more for services partially funded by the government. I feel it’s just the way life is…

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It can go on like this for a long time; the fountain spring of wealth is based on the exploitation of resources and labor, if this doesn’t change, debt can keep expanding as future earnings are “guaranteed”.
The real value of money keeps decreasing over time, so it also makes sense for debts to keep expanding, at least in the nominal sense.

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