WorthyNewsBot Posted July 16, 2018 Group: Bots Followers: 3 Topic Count: 39,879 Topics Per Day: 6.49 Content Count: 44,084 Content Per Day: 7.18 Reputation: 980 Days Won: 2 Joined: 06/06/2007 Status: Offline Share Posted July 16, 2018 (Worthy News) - The untold story of the world economy is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion. That’s “trillion” with a “t.” The numbers are so large as to be almost incomprehensible. Households, businesses and governments borrow on the assumption that they will service their debts either by paying the principle and interest or by rolling over the debts into new loans. But this works only if incomes grow fast enough to make the debts bearable or to justify new loans. When those ingredients go missing, delinquencies, defaults and panics follow. Here’s where the trade war and debt may intersect disastrously. Since 2003, global debt has soared. As a share of the world economy (gross domestic product), the increase went from 248 percent of GDP to 318 percent. In the first quarter of 2018 alone, global debt rose by a huge $8 trillion. The figures include all major countries and most types of debt: consumer, business and government. [ Source: Columbus Dispatch (Read More...) ] The post The $247 trillion global debt bomb is ticking appeared first on Worthy Christian News. View the full article Link to comment Share on other sites More sharing options...
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