Global Debt

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(04 Apr 2017)  Global debt hits unthinkable (and unsustainable) $215 trillion.  The Institute of International Finance (IIF) is a global association of financial institutions that was born out of the international debt crisis of the early 1980s.  The group just released a report on the current level of global debt, and the figures are staggering.  A decade ago, the world was awash in debt to the tune of $65 trillion, with the US accounting for about $8.5 trillion of that amount, or 12%.  Today, global debt levels have reached an almost-unfathonable $215 trillion, with the US accounting for $20 trillion of the figure, or 9.3%.  Put another way, global debt is now equal to 325% of global GDP.  Should we celebrate the fact that we now hold a smaller percentage of the world's outstanding debt load?  Umm...no.  Both figures are unsustainable and are a threat to global peace and prosperity.  Now, take a look at the leadership structure in places like Europe, and form an opinion on whether or not the problem will be solved or exacerbated.