Posted on 12/26/2023 3:06:49 AM PST by davikkm
In a worrisome turn of events, Ethiopia has become the latest casualty in the escalating global debt crisis, defaulting on its financial obligations. Unfortunately, this is just the tip of the iceberg as the consequences of decades-high interest rates continue to reverberate across the world, putting immense pressure on the global economy. Some of the poorest nations are now on the brink, struggling under the weight of a historic debt burden.
This crisis is a lagged effect of a global tightening campaign that, while seemingly over, continues to impact low-income countries. Soaring global interest rates make debt repayment increasingly expensive, drawing unsettling parallels to the debt crisis of the 1980s. The numbers are staggering, with global debt reaching a staggering $307 trillion in 2023. But why does it matter?
(Excerpt) Read more at citizenwatchreport.com ...
Bkmk
Debt has nothing to do with it. Ethiopia is a failed state. They are threatening war on their neighbors. And so there will be no outside investment. This is less about finance and more about bad governance.
US unfounded liabilities is in excess of $212 trillion... Go figure
Another fear porn report from the latest Harold Camping of economic reporters.
May as well invest in lottery tickets.
I could see 2008 coming (the event) but routinely got dismissed with a wave of the hand.
I guess the next one will be a similar surprise for many.
At this point, I believe it’s inevitable and not a matter of IF but rather WHEN.
Isn’t Ethiopia one of the African countries who fell into the Chinese debt trap?
I’ve been hearing this since the 1980’s, yet here we are. I guess at some point everyone goes Weimar Republic, but we’ve been living on magic money for so long, it’s actually become real money.
The monetary system is much stronger than it was in 2007.
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