Tsunami of Global Debt

Tsunami of Global Debt – the Mockingbird

The Mockingbird

In a publication called: “Global debt Monitor: Attack of the Debt Tsunami” on November 18, the Institute of International Financereported that the global debt would reach an all-time high of $277 trillion. That is with 12 zeros, over $15 trillion more since the end of 2019 and 365% of the World’s Gross domestic product (GDP)! Even though debt has increased drastically in the previous decade since the 2007-2008 economic crisis, it has never increased to such heights in the space of a year.

These are the numbers according to the Institute of International Finance (IIF):

  • China’s debt reached 335% of GDP in 3rd quarter of 2020
  • US debt will reach $80 trillion, an increase of $9 trillion from 2019
  • The Eurozone debt will reach $53 trillion
  • Debt reached 432% of GDP among advanced nations in the third quarter of 2020.
  • Debt reached 248% of GDP among…

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