A report by the Institute of International Finance (IIF) has revealed that Global debt has climbed to $247 trillion in the first quarter of 2018 which is 318% of Global gross domestic product.
If you put all the physical money into a bank account then all the money in the World comes to $90.4 trillion so unless i am very much not understanding it, where does the extra $157 trillion being lent out come from?
It can only be electronic money which is shifted from bank computer to bank computer so although it isn't physical money that is lent, at some point it will become so because it will be used to pay for equipment, wages, stock etc.
So all the economies on the planet have a debt of $247 trillion but only has $90.4 trillion in actual cash As this wilful dismissal of countries living within their means seems to have gone on in almost every country on the planet, is it any wonder the whole thing keeps collapsing? And why are we trusting the same people to get us out of the mess when the last crash is still going on after a decade?
The top 10 nations who owe the most are United States ($22.2 trillion), UK ($8.4 trillion), France ($5.6 trillion), Germany ($5.3 trillion), Netherlands ($4.5 trillion), Luxembourg ($3.7 trillion), Japan ($3.5 trillion), Italy ($2.5 trillion), Ireland ($2.3 trillion) and Spain ($2.2 trillion).
Considering that six of the above top ten debt ridden nations are part of the G20 who aim is to discuss and promote international financial stability, then you can understand just why we are in such a mess and have a debt almost 3 times more than we actually have.
If we ran our household accounts as poorly as the so-called experts, then we would be turfed out of our homes and living under a motorway bridge somewhere.