All that means is that it’s gotten so big it can NEVER be repaid.
Everyone will realize this, shrug, and life will go on.
The End Game
Banks will own the productive capacity of the World
Should we welcome our Banker Overlords?
1) Perhaps I miss the distinction, but a bond is a debt, so "corporate debt and bonds" seems redundant.
2) No one should be Too Big to Fail. If a corp can't pay off its debt, let it go under. We'll survive.
3) Government attempts to "fix" this sort of thing can only make it worse.
In my family, we had a saying: “I’d rather owe it to you than cheat you out of it.”
“Global Debt Soars to $169 Trillion: Will We Ever Learn?”
Yes.....yes we will.
Fortunately, the world is in net debt to ... it’s self. No problem.
I have a question here for those FReepers with an understanding of economics: If I write my friend an I.O.U. for $1 trillion (say, in exchange for his promising to mow my lawn for the rest of my life), does global debt then rise to $170 trillion?
Second question: If I am a publicly-traded company and issue 1 million shares for $1 a share - and then some shareholder offers one of his shares for sale, and someone offers to buy that single share for $1 million, does my company then have a capitalization (if only for a brief time) of $1 trillion?
Regards,
How can the world be $169 trillion in debt? To whom do we owe it? Mars?
Of course people won’t learn. There are always those who heed the siren call of free stuff from the government, and there will always be politicians willing to hand it out.
Is it something I should be worried about?
Seriously. This number is meaningless.
Obozenomics at it its finest. Just spend your self out of debt