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World debt nearly doubled since the 2008 Financial crisis

Started by JOE, March 15, 2019, 10:31:41 PM

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JOE

March 15, 2019, 10:31:41 PM
It now stands at $240 trillion.



In 2008 it was $140 trillioon.



The current level of debt is 3 times higher than the entire world's GDP:



https://business.financialpost.com/news/economy/rising-global-debt-holding-back-growth-opening-up-vulnerabilities-central-bank?utm_source=Sailthru&utm_medium=email&utm_campaign=Financial%20Post%20-%20Posthaste%202019-03-15&utm_term=FP_ExecSummary">https://business.financialpost.com/news ... xecSummary">https://business.financialpost.com/news/economy/rising-global-debt-holding-back-growth-opening-up-vulnerabilities-central-bank?utm_source=Sailthru&utm_medium=email&utm_campaign=Financial%20Post%20-%20Posthaste%202019-03-15&utm_term=FP_ExecSummary



Question is how long can this continue?



It doesn't seem logical or possible.



The article states tgat we are in better financial shape than 10 uears ago but it doesn't seem that way,



Is it be possible to press the 'reset switch '?



Or is this the stuff of science fiction?

Anonymous

#1
March 15, 2019, 10:36:13 PM
Quote from: "JOE"It now stands at $240 trillion.



In 2008 it was $140 trillioon.



The current level of debt is 3 times higher than the entire world's GDP:



https://business.financialpost.com/news/economy/rising-global-debt-holding-back-growth-opening-up-vulnerabilities-central-bank?utm_source=Sailthru&utm_medium=email&utm_campaign=Financial%20Post%20-%20Posthaste%202019-03-15&utm_term=FP_ExecSummary">https://business.financialpost.com/news ... xecSummary">https://business.financialpost.com/news/economy/rising-global-debt-holding-back-growth-opening-up-vulnerabilities-central-bank?utm_source=Sailthru&utm_medium=email&utm_campaign=Financial%20Post%20-%20Posthaste%202019-03-15&utm_term=FP_ExecSummary



Question is how long can this continue?



It doesn't seem logical or possible.



The article states tgat we are in better financial shape than 10 uears ago but it doesn't seem that way,



Is it be possible to press the 'reset switch '?



Or is this the stuff of science fiction?

Debt doesn't seem to be much of a concern anymore anywhere.

JOE

#2
March 16, 2019, 04:02:44 AM
https://assets.weforum.org/editor/3zDXgB7V5sontv2jhsFjEbw5Zocb86qw44Nb7f_oRYA.jpg">

Anonymous

#3
March 16, 2019, 11:38:09 AM
I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

JOE

#4
March 17, 2019, 12:57:11 PM
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.


True.



Governments & consumers alike are carrying around too much toxic debt



That's what is contributing to the impending debt crisis.

Gaon

#5
March 17, 2019, 01:44:37 PM
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

And you should be. Banks are not going to stop lending money to Canadian provinces. They will stop lending money to Canadians.
The Russian Rock It

JOE

#6
March 17, 2019, 03:05:45 PM
Quote from: "Gaon"
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

And you should be. Banks are not going to stop lending money to Canadian provinces. They will stop lending money to Canadians.


Yeah I read that article with some cynicism.



The economist in the above article says that the world is much deeper in debt than 2008, ten years ago, but that we're actually in better shape because 'safeguards' have been implemented since then to prevent another 2008 crisis.



Question is...better for whom? Better for the bankers? Better for the CEOs? Better for the elites? A social safety net for them & nothing for everybody else? I gets the feeling all these 'safeguards ' ate to protect them and not us. That we'll end up safeguarding their holdings/investments while leaving the rest of us to the wolves.



Do you get that feeling too?



And how can the world be much better off if it is twice as much in debt than 10 years ago?



It doesn't make sense.

Anonymous

#7
March 17, 2019, 07:39:31 PM
Quote from: "JOE"
Quote from: "Gaon"
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

And you should be. Banks are not going to stop lending money to Canadian provinces. They will stop lending money to Canadians.


Yeah I read that article with some cynicism.



The economist in the above article says that the world is much deeper in debt than 2008, ten years ago, but that we're actually in better shape because 'safeguards' have been implemented since then to prevent another 2008 crisis.



Question is...better for whom? Better for the bankers? Better for the CEOs? Better for the elites? A social safety net for them & nothing for everybody else? I gets the feeling all these 'safeguards ' ate to protect them and not us. That we'll end up safeguarding their holdings/investments while leaving the rest of us to the wolves.



Do you get that feeling too?



And how can the world be much better off if it is twice as much in debt than 10 years ago?



It doesn't make sense.

Don't acquire debt unless you absolutely need to..



You rent, so maybe you should not consider buying for a while.

Anonymous

#8
March 17, 2019, 10:12:36 PM
Quote from: "Fashionista"
Quote from: "JOE"
Quote from: "Gaon"
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

And you should be. Banks are not going to stop lending money to Canadian provinces. They will stop lending money to Canadians.


Yeah I read that article with some cynicism.



The economist in the above article says that the world is much deeper in debt than 2008, ten years ago, but that we're actually in better shape because 'safeguards' have been implemented since then to prevent another 2008 crisis.



Question is...better for whom? Better for the bankers? Better for the CEOs? Better for the elites? A social safety net for them & nothing for everybody else? I gets the feeling all these 'safeguards ' ate to protect them and not us. That we'll end up safeguarding their holdings/investments while leaving the rest of us to the wolves.



Do you get that feeling too?



And how can the world be much better off if it is twice as much in debt than 10 years ago?



It doesn't make sense.

Don't acquire debt unless you absolutely need to..



You rent, so maybe you should not consider buying for a while.

Old Joe doesn't have a pot to piss in.

JOE

#9
March 17, 2019, 11:18:00 PM
Quote from: "Herman"
Quote from: "Fashionista"
Quote from: "JOE"
Quote from: "Gaon"
Quote from: "Fashionista"I am concerned about consumer debt in Canada..



I read it's the highest in the OECD.

And you should be. Banks are not going to stop lending money to Canadian provinces. They will stop lending money to Canadians.


Yeah I read that article with some cynicism.



The economist in the above article says that the world is much deeper in debt than 2008, ten years ago, but that we're actually in better shape because 'safeguards' have been implemented since then to prevent another 2008 crisis.



Question is...better for whom? Better for the bankers? Better for the CEOs? Better for the elites? A social safety net for them & nothing for everybody else? I gets the feeling all these 'safeguards ' ate to protect them and not us. That we'll end up safeguarding their holdings/investments while leaving the rest of us to the wolves.



Do you get that feeling too?



And how can the world be much better off if it is twice as much in debt than 10 years ago?



It doesn't make sense.

Don't acquire debt unless you absolutely need to..



You rent, so maybe you should not consider buying for a while.

Old Joe doesn't have a pot to piss in.


Whatever savings you've accrued you ought to put aside to pay those  'pandejos' who'll have to take care of you when your liver fails due to overdrinking, Herman.



Start a gofundmepage now & I'll chip in 25 cents for your future needs.



Remember, its those hispanic nurses you look down upon who'll be cleaning your bedpan when you get ill one day, Herman.



But hey, best of luck. You'll need it my friend

Anonymous

#10
March 17, 2019, 11:23:22 PM
You are the one who is going to die broke and alone. Hell, you can't even pay to fix your rotten teeth.

Anonymous

#11
March 17, 2019, 11:29:23 PM
Quote from: "Herman"You are the one who is going to die broke and alone. Hell, you can't even pay to fix your rotten teeth.

The way Joe talks, I gather he's so poor he can't afford a toothbrush.

Anonymous

#12
March 18, 2019, 12:36:48 AM
Quote from: "Shen Li"
Quote from: "Herman"You are the one who is going to die broke and alone. Hell, you can't even pay to fix your rotten teeth.

The way Joe talks, I gather he's so poor he can't afford a toothbrush.

All of Joe's posts are for his own amusement, but he does give the impression that he's hard up..



It doesn't seem like he has much invested for his upcoming retirement.

Anonymous

#13
March 18, 2019, 12:47:34 AM
Quote from: "Fashionista"
Quote from: "Shen Li"
Quote from: "Herman"You are the one who is going to die broke and alone. Hell, you can't even pay to fix your rotten teeth.

The way Joe talks, I gather he's so poor he can't afford a toothbrush.

All of Joe's posts are for his own amusement, but he does give the impression that he's hard up..



It doesn't seem like he has much invested for his upcoming retirement.

Joe is a pathetic old loser and he's going to die broke and a virgin. Oh well.
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