Josh Sigurdson talks with author and economic analyst John Sneisen about the record breaking global debt level.
The numbers have been released. At the end of 2016, global debt reached record highs of $217 trillion. That’s 327% of global GDP, up 50 trillion over the past decade.
Then on January 4th, 2018, we saw the IFF global debt analysis report showing global debt rose to a record of $233 trillion at the end of the third quarter in 2017.
“$63Tn in government, $58Tn in financial, $68TN in non-financial and $44Tn in household sectors, a total increase of $16 trillion increase in just 9 months” according to Zero Hedge.
Now, the latest quarterly update shows global debt has climbed another 4 trillion dollars in the following quarterly.
It now stands at a record $237 Trillion, at least in the final quarter of 2017. That’s more than 70 Trillion Dollars more than a decade ago. Up 20 Trillion Dollars in 2017 alone!
This appears to be peak debt. It doesn’t have much more room for movement. This could end in a catastrophic global collapse. As we know, this is a problem of central banking. The global central banking system is getting desperate as we see the end results of mass centralization. All fiat currencies eventually revert to their true value of zero. They always have, they always will, going back to 1024 AD in China. Now we of course do not know when the crash will truly happen as the fundamentals are off the table due to the level of manipulation in the monetary system, but we know it will indeed happen. This is why self sustainability and financial responsibility are so important for individuals to maintain.
We will continue to cover this important issue closely. Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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