This summary explains a lot of our worldly woes. Don’t let the name of the site fool you; there is good information here! Living on credit, which is what the entire WORLD has been doing for nearly a decade now, is a HUGE part of the problem.
‘World Socialist Website’
https://www.wsws.org/en/articles/2015/02/18/econ-f18.html
Global debt has increased by $57 trillion since 2007 to almost $200 trillion, far outpacing real economic growth, with the share of debt rising from 270 percent to 286 percent of global gross domestic product. “Overall debt relative to gross domestic product is now higher in most nations than it was before the crisis” with higher levels of debt posing “questions about financial stability,” the report noted.
And those of us that live within our means KNOW this, but are seemingly powerless to stop it.
200 trillion? The only way “out” is to just basically have some sort of jubillee where all debts are written off and we just reset everything. The downside is to figure out the logistics but there is no way on God’s green Earth where we can pay it off, it is mathematically impossible or soon will be. We can only kick this can so far.
‘World Socialist Website’
seriously?