Global Debt Hits A Record $300 Trillion, Up $36 Trillion Since COVID | WHAT REALLY HAPPENED

Global Debt Hits A Record $300 Trillion, Up $36 Trillion Since COVID

Another quarter, another all time high in global debt (don't expect this to ever again drop under the existing monetary framework).

According to the Institute of International Finance (IIF), total global debt - which includes government, household and corporate and bank debt but excludes derivatives and various other exotic products - rose to a new record high of nearly $300 trillion in the second quarter, $296 trillion to be precise, and up $4.8 trillion in the quarter. This means that in the 18 months since covid, total debt has risen a stunning $36 trillion!

"If the borrowing continues at this pace, we expect global debt to exceed $300 trillion," said Emre Tiftik, IIF's director of sustainability research. Well, duh. Not only will it exceed $300 trillion but it will exceed $400 trillion, $500 trillion and eventually $1 quadrillion and so on. This is a feature, not a bug of the MMT "Helicopter Money" system we now live under.

The rise in debt levels was the sharpest among emerging markets - read China - with total debt rising $3.5 trillion in the second quarter from the preceding three months to reach almost $92 trillion.

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