How the world got into $315 trillion of debt

The world is mired in $315 trillion of debt, according to the latest May report by the Institute of International Finance. 

This latest global debt wave has been the biggest, fastest, and most wide-ranging rise since World War II, coinciding with the Covid-19 pandemic.

With global debt at a record high, should we be concerned?

#CNBC #Debt #GlobalDebt
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[Heartadia]

no wonder billionaires feel poor.

having a billion USD is nothing when the world debt is 315T and counting.

today, hats off to a poor billionaire.

[koushikmediga]

gdp is calculated yearly while debt is the total we owe across the years

[sreenathatirunarayanapura]

According to western media world means Western Europe US Australia Canada and Newzealand


All others are outside Earth in a different universe

[souravjaiswal-jrbj]

Why does CNBC never speak about FIAT monetary system? They treat it like 'n' word of financial system.

[jyster]

It’s not the world in debt, it’s mostly western countries

[HelenSurina-mvot]

Ontario predicted Global debt would reach 418T dollars

[lifevest]

"You're really responsible! You can pay your debts off fast!"
"Yes, but what if I just pay outright and don't take out debt?"
"Terrible... how irresponsible of you."

[KitchenBoy]

If everything already exist on the planet. Why are we paying for anything/everything ?

[wilfredpeake]

Debt makes the currency, the issue is keeping the currencies value

[yyhkodu]

Multinational banks want all this debt. This is how they get rich.

[Questioneverything]

The world is in debt to itself, what a joke. Someone prints money and presents it as a loan to give it legitimacy

[HagiaFantasia]

Can this money be redistributed to the poor in the form of a negative income tax or universal basic income? We could really use the help 😢

[ACK]

Does that mean no debt is the richest? XD

[lokesh]

1 Trillion Dollar = 1000 Billion Dollars.

[loveyouyarro]

Only life is true understand it first than understand debt.😂

[tomb]

Trillion is the new billion, just at the dollar is now the new dime. What you could buy with a million not that long a go, now cost a billion.

[subrataghosh]

Debt to GDP ratio... top ten list... India currently around 82%...Gradual reduction in fiscal deficit is the Indian objective... reducing fiscal deficit from 5.6% to 4.5% of GDP in next few years.

[mikebostic]

Countries that spend and issue their own currency into existence don't have a debt crisis. The US, UK, China, Japan and Australia are prime examples of this.

[bozok]

Man, in some countries people can not make 30000$ even if tehy worked all of tehir lifes which is depressing.

[detectivegenius]

Debt. is necessary product of fiat monetary system. And Rich will always get richer and poor will get more poorer. Accept this reality, you can't do anything.