World Events and the Bible

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Global Debt Reaches $217,000,000,000,000 While Global GDP Is Three Times Less

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WEB Notes: Let’s bring this back to basics so we can better understand the situation. For the sake of math let’s say you make $1,000 a month. Yet, you are spending $3,000 a month on various bills. That means you have a net loss every month of $2,000. How would it be possible for you to continue life at that rate if every month you spend $2,000 more than what you have coming in? It would not last long unless you had one heck of a savings account. Or if you were a world bank and just printed and printed all the money you needed. In that case you could spend all the money you never had. Do you better understand how the system is rigged against you? You and I could never operate our households like this. We do not live in a healthy economy and it will crash one day, it is going to happen it is simple math. At the rate we see the world today it would seem this will be the final crash before the world merges together and we see the rise of the Ten Clay Kings. Time will tell.

Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual economic output (GDP), reports the Institute of International Finance (IIF).

The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

The biggest contributor was China with $2 trillion. In June, the International Monetary Fund urged Beijing to tackle its ballooning debt, describing it as unusually high for a developing economy. Some estimates say China’s debt stands at 260 percent of its GDP.

Source: World’s debt over three times greater than economic output — RT Business

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