The Total Amount Of Debt In The World Just Hit A Record 152 Trillion

Num7

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That might not sound as doomy as other doomsday predictions, but think about it...

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If anyone ever asks you how much debt there is in the world, now you will know the answer. According to the IMF, the total amount of debt around the globe has now hit a staggering 152 trillion dollars. That is an amount of money that is almost unimaginable, and the IMF says that it is equivalent to 225 percent of global GDP. It is the biggest debt bubble in the history of the planet, and it is rising at an extremely alarming pace. Experts all over the world agree that when this debt bubble finally bursts, it is going to create an economic crisis on a scale that humanity has never seen before.

When I first saw this number I was absolutely astounded at how reckless we all have become, and I was also amazed that there was hardly anything about this announcement in the mainstream media in the United States.

The International Monetary Fund has urged governments to take action to tackle a record $152tn debt mountain before it triggers a fresh global financial and economic crisis.

Warning that debt levels were not just high but rising, the IMF said it was vital to intervene early in order to mitigate the risks of a repeat of the damaging events that began with the collapse of the US sub-prime housing bubble almost a decade ago.

It said that new research in its half-yearly fiscal monitor covering 113 countries had shown that debt was currently 225% of global GDP, with the private sector responsible for two-thirds of the total.

Right now the mainstream media in the United States is so obsessed with Trump and Clinton that almost every other important story is pushed to the side, but it boggles my mind how this cannot be major front-page news.

When we borrow money, consumption is transferred from the future to the present. For example, if you put a 70-inch television on your credit card today, the quality of your lifestyle will immediately go up, but you won’t have that money to spend at some point in the future. In fact, you are ultimately going to pay back significantly more money than you originally spent for the television.

So when we go into debt, we are literally destroying the future one dollar at a time.

On a national scale, what we are doing to our children, our grandchildren and all future generations of Americans is beyond criminal. Thomas Jefferson and other founding fathers warned that government debt was simply thievery from future generations, and they were exactly right. If future generations get the chance, they will look back and curse us for what we have done to them.

Earlier today I looked up our national debt, and it is currently sitting at $19,688,773,606,117.54. That means that Barack Obama has officially become “the 9 trillion dollar man.”

When Barack Obama entered the White House, the U.S. government was 10.6 trillion dollars in debt, and now we are 19.6 trillion dollars in debt, and there is a very good chance that we could hit 20 trillion dollars by the time he leaves the White House on January 20th, 2017.

In a just society, the politicians that have done this to future generations of Americans would be going to jail, but instead we put them up on pedestals.

Source:
The Total Amount Of Debt In The World Just Hit A Record $152,000,000,000,000 (152 Trillion)
 

TnWatchdog

Senior Member
Messages
7,099
When I have run up debt I had to pay it off, not get more credit. If no payment was made, terror would follow, they come after you breaking a few bones. Maybe aliens have granted this word a line of credit and now they plan to come after it or us.
 

HDRKID

Senior Member
Messages
2,582
I did some remote viewing. Well, most of the malls were gone. Wall Mart is trying to use pick up towers now. However, this strategy reminds me of blockbuster video and their idea of letting people order online movies and going to the video store to pick em up. Well, Netflix had a better idea as in no stores and no late fees ever. Sadly, wall mart cannot wake up.

 

Harte

Senior Member
Messages
4,562
I can't decide whether it would be better to pay ourselves back immediately, or sit back and wait to collect all our interest.

Harte
 

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