Zero Hedge: 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!
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WNU Editor: The world's yearly GDP is around $80 trillion. If global interest rates should hit an average of 5%, it would mean that about a fifth of the world's GDP ($15 trillion) will then just be dedicated to paying the interest on that debt.
