Zero hedge: Global debt hits a record $ 300 trillion, up $ 36 trillion from COVID
Another quarter, another all-time high in global debt (don’t expect this to ever drop below the existing monetary framework again).
Total global debt – which includes government, household, corporate and bank debt but excludes derivatives and various other exotic products – has risen to a new record high, according to the Institute of International Finance (IIF). of nearly $ 300 trillion in the second quarter, $ 296 trillion to be exact, and an increase of $ 4.8 trillion in the quarter.
This means that in the 18 months following the covid, the total debt has increased by a whopping 36 trillion dollars!
to know more ….
WNU Editor: World annual GDP is around $ 80 trillion. If global interest rates were to reach an average of 5%, it would mean that about a fifth of world GDP ($ 15 trillion) will be devoted to paying interest on that debt alone.
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