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  1. #1
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    Global debt topped $247 trillion in the first quarter, IIF says

    Global debt rose to a record $247 trillion in the first quarter, more than $29 trillion higher than the end of 2016, according to an analysis by the Institute of International Finance. The debt-to-GDP ratio rose for the first time since the third quarter of 2016 but remains about four percentage points below the record high reached then, according to the IIF. The pace of the debt increase in the first quarter is a concern to the IIF as they note that the quality of the debt has declined, particularly in emerging markets.

    Total emerging market debt (ex-financials) rose by $2.5 trillion to a new record of $58.5 trillion in the first quarter -- raising concern. On Monday, Kristalina Georgieva, chief executive officer of the World Bank, said in an interview, “with interest rates going up, attention on debt sustainability has to be stronger.”

    Government debt has risen most sharply in Brazil, Saudi Arabia, Nigeria and Argentina, according to the report. Of the four, U.S. dollar refinancing risk is particularly high for Argentina and Nigeria, where over three-quarters of redemptions will be in dollars. About $900 billion is in U.S. dollar-dominated emerging bonds/syndicated loans that will mature by 2020
    https://www.bloomberg.com/news/artic...arter-iif-says

  2. #2
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    btw funny thing is global gdp is only ~$80 trillion

  3. #3
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    Fact - there is not nearly enough money in the entire world to pay the global debts.

    Thank you to the banking interest system. Its the biggest curse ever and will not go away until the entire system collapses completely.

    Risk sharing systems are always much better and more ethical. Slower growth rates sure, but stronger foundations could be laid for a safer future without crippling the common man.

  4. #4
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    Quote Originally Posted by Madplayer View Post
    Fact - there is not nearly enough money in the entire world to pay the global debts.

    Thank you to the banking interest system. Its the biggest curse ever and will not go away until the entire system collapses completely.

    Risk sharing systems are always much better and more ethical. Slower growth rates sure, but stronger foundations could be laid for a safer future without crippling the common man.
    and if whole Financial system collapse then industrial civilization will be collapse

    because all the companies in the world are now dependent on banks to give them credit
    if ever all the banks in the world collapse these companies also will come down with them

  5. #5
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    Quote Originally Posted by good guy View Post
    and if whole Financial system collapse then industrial civilization will be collapse

    because all the companies in the world are now dependent on banks to give them credit
    if ever all the banks in the world collapse these companies also will come down with them
    Yes it will either evolve into something else (more likely) or collapse.

    I wonder if it would not be better for the industrial civilization to end once and for all.


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