$315 Trillion & Counting: The World is in Debt | Vantage with Palki Sharma | Subscribe to Firstpost

Global Debt at Record High, Raising Fears of Another Financial Crisis | Vantage with Palki Sharma

The world is drowning in debt, with the total amount owed now reaching a staggering $315 trillion, which is nearly three times the global GDP. The debt is spread across households, businesses, and governments. Experts warn that this unsustainable level of debt raises the risk of large-scale defaults, which could trigger a new financial crisis. Large debt burdens can have devastating consequences, especially for households. Defaults can lead to families losing their homes and savings. Further, the rise of "Buy Now, Pay Later" (BNPL) platforms is creating more risks. These platforms offer easy loans with flexible repayment options, but they often come with high-interest rates. Palki Sharma tells you more.

---

Global GDP | USA | China | Debt | Economy | Defaults | Global Risk | India | BNPL | JPMorgan Chase | Jamie Dimon | Firstpost | World News | Vantage | Palki Sharma

#usa #economy #globaldebt #globalrisk #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
​
Subscribe to Firstpost channel and press the bell icon to get notified when we go live.

Follow Firstpost on Instagram:

Follow Firstpost on Facebook:

Follow Firstpost on Twitter:

Follow Firstpost on WhatsApp:

[sheyzannaizer]

Imaginary money. Imaginary debt but contractually binding.

[nikhil]

the only debt the world is the debt of trees.

[Code_himanshu]

Who are we owing that much money to? TRANSFORMERS?

[ezilyyi]

The U.S Has Much To Worry About ... 💯%

[PriorityC]

99% of people on earth cannot understand this😢😢😢
From where this money coming who's giving this loans
Please explain in a simplified way
So dumb like me can understand 😂

[geraldadams]

We all live beyond what our means should be

[satpaldahiya-vidw]

The debt is owned to whom? All Nonesense to create panic. If there is debt and then there has to be credit too.

[shivammalikO]

Comment section looks like economincally dumb for some reason
Simple hint = debt for life, gdp of 1 year, so it is just equivalent to 3 years gdp and loan can continue for decades.
I have money today and i give that as loan for 100 years and repeat the procedure then that debt will be accumuate and reflect for 100 years but not economy which count annually

[fsxmantra]

Holy cow... the $45 trillion not taken into account yet . 🤣🤣 🙏

[dipakdasgupta]

Wonderful inputs, but sure the society would never compromise with the borrowed expenditure on personal Laval for few families, just try to accumulate the statistics. Regards 🙏🙏

[rockymartin]

The American government should print more money. That will be good for the American people. 😂

[Musings]

If some one has to give that much money as loan he should have equal or more money than that…put together

[franciscouche-egburedi]

Where did the world get that much money

[theotherside]

Debt is 3 times the debt! Who is giving that debt and who is taking that debt?

[thesmartaspiranttsa]

In the long run we're all in debt

[darianclery]

Thank you for this it not enough the world get much money

[satyashyam]

Ohho..fact and factual 😅 In that case, people with billions of wealth can contribute to their country in the name of patriotism, without expecting middle class people to take the burden all the time. In india, every economic disaster has to fall on middle class people which shows impotency and cowardice of wealthy elites. If debt is higher than GDP, people such as celebs, crickerers, politicians, big brands, shopkeepers and entrepreneurs can come forward and pay for debts because middle class people have already made these folks rich. Here tata and ambani can share their wealth for India since so far they have been doing everything for India. Hope i am making sense to Palki ji 😊

[prustysaurabh]

No but the question is whose debt is this....govt has money printing machine and it takes loan from it very own central bank....so one day the same govt. Will only waive off this loan....

[sumankondapuram]

No.taking loan is Economical and achieve development In accelerated mode provided they have very large gold reserves and foreign Exchange reserves.Economy is a complicated state.

[priyankautharadhi]

May be vijay mallaya😂 is maintained the world bank😊