The Amateur Message Boards of the World Famous VoyeurWeb

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Global debt is now in the region of $200 trillion. The McKinsey Global Institute recently published a report highlighting the bloated, unsustainable levels of debt that have been accumulated globally and the huge risks when interest rates begin to rise again.

With a global population of 7.3 billion this works out out at over $27,200 of debt for every man, woman and child alive in the world today.

Almost 29% of that debt – $57 trillion – has been accumulated in the relative short period since the financial crisis erupted in 2007 – just 8 years.

This has increased the total debt-to-GDP ratio by 17% and “poses new risks to financial stability and may undermine global economic growth.”

America is closing in on 20 trillion in debt.

It cannot pay that, and the only ways out seem to be eventual default or high inflation.

Is there any other way out?

johnforbes wrote:America is closing in on 20 trillion in debt.

It cannot pay that, and the only ways out seem to be eventual default or high inflation.

Is there any other way out?

Have ever thought about what would happen if the federal government actually paid off all of it's debts.

That would mean all government bonds would come off the market. A number of institutions would be profoundly impacted.

Think about it Johnny Boy. I know you can do it!!!

LMAO

Clown made a post without blaming Bush, mentioning WMD, IRAQ or Global Warming being brought up, good for you. But I disagree with your opinion that having a high national debt is a good thing.