Worldwide Debt Hits Record High Of $217 TRILLION

Debt levels around the world have hit a new record high.

In total, global debt stands at $217 trillion, having increased by $500 billion in just the past year alone.

As noted by Reuters, “Global debt, as a result, now amounts to 327 percent of the world’s annual economic output, the Institute of International Finance (IIF) said in a report late on Tuesday.”

This debt explosion can be seen here in Canada, as household debt and government debt have reached new highs.

Global slowdown?

Many economies around the world remain stagnant. In many cases, even those that are growing are expanding below historical trends. Usually, low interest rates and the subsequent increase in debt would be expected to raise global growth rates substantially. That has not happened.

The economic ideology of the globalist elites – “free trade” that eliminates national sovereignty, policies that restrict development in advanced economies, and the imposition of a system that benefits those with power and elite connects at the expense of everyone else – is starting to fall apart.

Massive printing of fiat currency, and rock-bottom interest rates haven’t created the growth necessary to outpace the rise in debt. So, it’s back to raising interest rates.

Of course, this could slow what little growth there is, leading to more economic problems, another cycle of money printing, interest rate cuts, and borrowing, and further crises.

Until the globalist elites are no longer in power, this dangerous cycle will keep repeating itself.

Spencer Fernando

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