World government debt to hit record $53 trillion this year: S&P Global

Reuters ^ | February 20, 2020 | by Marc Jones

[Oldeconomybuyer]

LONDON - The amount of debt owed by the world’s governments will jump to a record $53 trillion by the end of the year, S&P Global estimated on Thursday, with $8.1 trillion set to borrowed this year alone.

About 70%, or $5.8 trillion, of sovereigns’ gross borrowing will be to refinance maturing long-term debt, though the expected $2.3 trillion of new borrowing will still be worth at least 2.6% of global GDP.

S&P said the increase reflected the higher borrowing needs of the largest countries. The U.S. at $3 trillion and Japan at $1.75 trillion will remain by far the largest borrowers globally, accounting for almost 60% of the overall total.

“By end-2020 we project that the commercial debt stock of all sovereigns we rate will rise by 5% to reach a record of $53 trillion compared to 2019 and by 30% compared to 2015,” a report headed by analysts Karen Vartapetov said.

[Oldeconomybuyer]

Low-interest debt is like cocaine to the corrupt elites.

[ClearCase_guy]

Bernie wants to spend MORE than this — just on healthcare in the US.

[rktman]

Sounds like someone needs a debt consolidation loan. And some credit counseling.

[entropy12]

Low-interest debt is like cocaine to the corrupt elites.

Exacto mundo!

[Red Badger]

Time to invest in paper and printer ink stocks...................

[Truthoverpower]

Yeah right ! Whose it owed to ?

[Obadiah]

There is simply no way out.

[Berosus]

If you think governments owe too much, just wait until they try a Green New Deal!

[fhayek]

44% of world government debt owned by United States.

[fhayek]

44% of world government debt owned by United States.

[Jolla]

paper and printer ink...

they just type more zeros to the left of the point: 1. 10. 100. 1000. whats the point?

[SkyPilot]

There is simply no way out.

There isn’t. And if the $800 Trillion Derivative Time Bomb ever goes off, everything will collapse. Every. Thing.

Then it will be time for the “global reset.”

[BipolarBob]

Whose it owed to ?

The future.

[Leaning Right]

The only way out is with carefully controlled inflation. Pay back the loans with inflated paper money. But the the key word there is “controlled”. Politicians have no self-control. So they will just use the inflated currency to spend more.

[Red Badger]

Gonna need a bigger bill.....................

[Shark24]

So when will the bank of Braavos come and call in their debt?

[central_va]

There is simply no way out.

Oh BS. Cry me a river. An Across the board import of 20% plus a small federal retail sales tax and REDUCTION of income tax rates would balance the budget this year. We can work on the debt after the bleeding stops.

[central_va]

A 20% import tariff solves all problems.

[Bob434]

[[Then it will be time for the “global reset.”]]

refereed to in the bible as the 2n’d 1/2 of the Tribulation- just when everyone is saying peace peace, and thinking everything is cool- wham-

[Boogieman]

“The U.S. at $3 trillion and Japan at $1.75 trillion will remain by far the largest borrowers globally, accounting for almost 60% of the overall total.”

We’re Number One! We’re Number One! U S A! U S A!