Not to worry. World War III will provide an excellent distraction and excuse. Plus, Population Reduction, A Great Reset and finally, a Global Digital Currency where no man can BUY or SELL without the Mark of the Beast.
Posted on 01/17/2024 9:17:51 AM PST by Twotone
The chief executive of the Institute of International Finance warned Tuesday that policymakers need to swiftly address record levels of global debt, describing the brewing crisis as a “huge fiscal problem.”
IIF CEO Tim Adams sounded the alarm on rising levels of debt while speaking to CNBC’s Silvia Amaro at the World Economic Forum in Davos, Switzerland.
His comments come at a time when the issue has largely been overshadowed at the WEF’s annual meeting, which runs through to Friday, with the rise of artificial intelligence and conflicts in the Middle East and Ukraine high on the forum’s agenda.
“We have a debt problem globally. We have the highest levels of debt in a nonwar period in modern history and it’s at the corporate, household, sovereign, sub-sovereign [levels],” Adams said.
“We have a huge fiscal problem everywhere, including the U.S. We’re running [a] deficit at 7% of GDP. We need sobriety and we need to focus on how we are going to get our fiscal house in order,” he added.
The global banking industry’s premier trade group said late last year that worldwide debt climbed to a record of $307.4 trillion in the third quarter of 2023, with a substantial increase in both high-income countries and emerging markets.
The IIF said it expected global debt to reach $310 trillion by the end of 2023, warning that elections in more than 50 countries and regions this year could usher in a shift toward populism that brings with it still-higher debt levels.
“I worry about geopolitics every day,” Adams said. “I think this will be a challenging year.”
Asked whether high levels of global public debt mattered at a time when major central banks are poised to cut interest rates, Adams replied: “It matters because of demographics. We have aging populations in so many parts of the world, from China to across Europe to the U.S. and Japan.”
“We need to build that capacity and deal with that huge debt overhang going forward. And this is in peacetime, so the question is how to do we do this quickly and in an intelligent fashion. But we all need to focus on the fiscal imbalances.”
I've known this for actually years.....
And I'm just a country bumpkin.....
My lefty economics professor explained to me years ago:
“We owe it to ourselves.”
Lol.
Only those closely following knows how it ends……default , not if, but when? …..
Considering all this debt is continuously rising and the borrowers are borrowing more money just to pay the debt makes default certain.
Does anyone realize our interest payments on our $$$ 34 Trillion debt is right at $$$ 1 Trillion?….in interest payments alone…and rising exponentially….it can never be repaid….” The Great Reset” talked about by many financial greats is near.
The Governments hunt for more money will be merciless, ( Biden’s new 60,000 IRS agents- check), cashless digital currency coming very, very soon…..every single dollar will be tracked and taxed….just hanging around for the one “ Event” that starts the dreaded “ Waterfall effect”. Exciting times - to me anyway.
It will be an excuse to re-appropriate all of our savings - to pay the elites all of what the crooked politicians stole.
I forgot to mention, the coming debt crisis started in the seventies when Financial institutions began allowing DEBT as collateral for loans….US Treasuries were ruled as “ assets”….huh? Yeah, prior to the seventies mortgages, US Treasuries, bonds,etc ( instruments of debt) were all prohibited from counting as “ assets”…
So here we are today, making money off of DEBT, let that sink in as to the consequences…..prepare accordingly to weather the storm.
Good thing we have these “experts” telling us the truth about our economy.
What would we do without them?
Can't Biden just wipe it away, like he does with college debt?
I think we’re heading for a global “Jubilee” where all debts are forgiven. But the globalists will have to pay for driving us here. Preferably at the end of a rope.
Yup. If all the debts just go *POOF* many will suffer — but the people who suffer the most will be the bankers and others who have sold debt as a really “good thing”. Those people need to be crushed. Debts need to be wiped off the books. The world needs to find a better way.
I think we’re heading for a global “Jubilee” where all debts are forgiven.
All debts except of course, consumer debt. They will never wipe off your credit cards, mortgages, etc.
But the Blackrock crowd will have theirs wiped.
I wish government would follow these steps.
Step 1 - Stop spending money you don’t have.
Step 2 - Stop spending the money you have on things you don’t need.
Globalists finding out how only one domino falls.
bttt
Print, Print, Print! Inflate, Inflate, Inflate!
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