Analysis: $88 trillion in debt and a wave of elections. World leaders are hamstrung
Analysis: $88 trillion in debt and a wave of elections. World leaders are hamstrung
Public debt exploded during the pandemic and new borrowing this year is likely to break records in several big economies, leaving governments less able to respond to shocks, fund public services or invest in the energy transition.
Wealthy companies got richer and we got a lot of public debt. Showing off all our big brained moves here.
Hey, how about next time just letting big businesses fail? How about we try that?
... and how about we start bailing out poor people?
....and how about we revolt and kill some rich people and politicians?
17Removed under rule 6, advocating violence. Stick to "eat the rich" which is non-literal hyperbole. :)
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" Two major wars, a shipping crisis, cyber attacks on state institutions and yet more alarming evidence of the climate emergency mean there’s no shortage of talking points.
But turning ideas into action when governments owe an unprecedented $88.1 trillion — equivalent almost to the world’s annual economic output — will be hard. "
12Owed to who? Future generations?
It seems our leaders have already decided to default on that obligation.
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Fiat currency is not a finite resource. While I agree that many governments and central banks aren't in a good position for another shock right now, it's not as simple as big debt number=crash.
5Thanks Vladimir!
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