The Institute of International Finance recently reported that global debt has now hit $250 trillion. That’s an awful lot of debt.
When you see the word ‘trillion’ written down as a word, it doesn’t really convey just how big that number really is. Just take a look at that number again for a moment…
250,000,000,000,000
250,000,000,000,000
250,000,000,000,000
Just think about it. That’s all debt – that’s what we owe…
Twenty years ago the figure was around $81 trillion
That’s a debt increase of around 210% in just twenty years – or approximately 10.5% per year.
Debt increase
Debt is expected to continue its meteoric climb and will likely hit a record of $255 trillion by the end of 2019 – up $12 trillion from $243 trillion at the end of 2018.
The world will enter 2020 and a new decade in debt to the tune of $250,000,000,000,000
When this figure is reached, probably by the end of 2019, it will roughly represent 300% of global GDP.
Who holds the debt?
Equally shared out – that’s nearly $32,500 of debt for each of the 7.7 billion people on our planet.
Unsustainable!
It’s going to pop or more likely go BANG sometime soon!
And it won’t be a pretty sight.
Haven’t we been here before?