“After the 2008 financial crisis and the longest and deepest global recession since World War II, it was widely expected that the world’s economies would deleverage. It has not happened. Debt continues to grow. Since 2007, global debt has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points.” – McKinsey
“Arrogant condescending central bankers, narcissistic Wall Street psychopaths, crooked bought off politicians, and narrow-minded government apparatchiks across the developed world have colluded to add $57 trillion of additional debt to the existing Himalayan Mountain of unpayable debt we started with in 2008. We’ve entered the NIRP phase of the currency debasement race for the bottom.
Households throughout the developed world have acted in a relatively rational manner by paying down credit card debt and attempting to live within their means, because their real wages continue to decline and they are receiving no return on their savings. The moneyed interests continue to prey on the desperate and financially ignorant in their last ditch desperate attempt to loot the remaining treasure from the U.S.S. Titanic, hijack the remaining lifeboats, and leave the American people to sink into the frigid murky depths.
The governing bodies of Japan, the EU, and the US have accounted for the vast majority of the $25 trillion increase in debt by the government sector. Total world debt as a percentage of World GDP is now approaching 300%. In 2000, the percentage was 185%. This level of debt can’t be sustained at zero interest rates, let alone normalized rates of 5%. Something that can’t be sustained won’t be. It is mathematically impossible for $200 trillion of debt to ever be repaid. It’s just a question of who gets screwed. And if the moneyed interests have their way, it’ll be you.”
Jim Quinn
http://www.theburningplatform.com/2015/02/27/breaking-bad-debt-episode-one/
http://www.theburningplatform.com/2015/02/28/breaking-bad-debt-episode-two/
http://www.theburningplatform.com/2015/03/01/breaking-bad-debt-episode-three/