Author Topic: Global debt at all time high: Imf article.  (Read 181 times)

Offline Xavier

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Global debt at all time high: Imf article.
« on: January 04, 2019, 11:19:09 AM »
This is not to cause anyone to panic or anything, but to show the modern fractional reserve central banking system is badly failing.

https://blogs.imf.org/2019/01/02/new-data-on-global-debt/

St. Michael's Journal, which promotes Catholic teaching based on social credit and a form of monetary distributism, predicted this a long time ago.

https://www.michaeljournal.org/articles/social-credit/item/as-the-people-build-the-people-get-into-debt

https://www.michaeljournal.org/articles/social-credit/item/the-solution-debt-free-money-issued-by-society

The way to bring debt down: (1) abolish fractional reserve banking (2) tie money supply to GDP (3) don't allow loans with freshly created money.

The creation of money and its distribution are two separate functions.

The modern system confuses the two. Hence, part of the problem.

Thoughts and comments on the IMF stats? It could be much better.

"Until recently, we had a partial view of global debt. Our new update to the IMF’s Global Debt Database, first made public in May 2018, now fills even more of the gaps. We have compiled data on public and private debt for 190 countries, dating back to 1950, which now includes the latest numbers for 2017.

We make these data free and publicly available for all to use because we believe transparency can help create better public policy.

The long view

In the past, we had detailed information about some bigger economies, such as the United States and Japan, but existing databases either covered a narrow measure of debt—for example, bank credit—for a broad sample of countries, or a comprehensive one for a few countries and years. By including both the government and private sides of borrowing for the entire world, the Global Debt Database offers an unprecedented picture of global debt in the post-World War II era. From all these data we have gathered a few new insights on debt:

Global debt has reached an all-time high of $184 trillion in nominal terms, the equivalent of 225 percent of GDP in 2017. On average, the world’s debt now exceeds $86,000 in per capita terms, which is more than 2½ times the average income per-capita.

The most indebted economies in the world are also the richer ones. You can explore this more in the interactive chart below. The top three borrowers in the world—the United States, China, and Japan—account for more than half of global debt, exceeding their share of global output.

The private sector’s debt has tripled since 1950. This makes it the driving force behind global debt. Another change since the global financial crisis has been the rise in private debt in emerging markets, led by China, overtaking advanced economies. At the other end of the spectrum, private debt has remained very low in low-income developing countries.

Global public debt, on the other hand, has experienced a reversal of sorts. After a steady decline up to the mid-1970s, public debt has gone up since, with advanced economies at the helm and, of late, followed by emerging and low-income developing countries.

Was 2017 different?


For 2017, the signals are mixed. Compared to the previous peak in 2009, the world is now more than 11 percentage points of GDP deeper in debt."
« Last Edit: January 04, 2019, 11:22:35 AM by Xavier »
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Offline Michael Wilson

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Re: Global debt at all time high: Imf article.
« Reply #1 on: January 04, 2019, 02:26:53 PM »
It would be nice if James or somebody who understands what all of this means, would comment on it.
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Offline awkwardcustomer

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Re: Global debt at all time high: Imf article.
« Reply #2 on: January 04, 2019, 03:39:07 PM »
It would be nice if James or somebody who understands what all of this means, would comment on it.

Usuary is the problem, that's what it means.
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Offline King Wenceslas

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Re: Global debt at all time high: Imf article.
« Reply #3 on: January 04, 2019, 06:42:52 PM »
Central banking is by its very nature against the natural law. Central banks first and foremost are for the banks. Therefore it will always enrich the banks and impoverish the rest. That is why Andrew Jackson was extremely against the National Bank. Central banking is the very antithesis of a fair and equitable society.

That is why America in the long term is doomed.
 

Offline King Wenceslas

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Re: Global debt at all time high: Imf article.
« Reply #4 on: January 05, 2019, 03:49:57 PM »
Excellent way to describe the mess the Federal Reserve keeps creating by low interest rate cheap credit:

Quote
Near the culmination of all great stock market bubbles, at least one of that cycle’s supposed luminaries suffers an epic collapse because of fraud. As a result, fresh capital is restricted from that sector when it is needed most, leading to further crisis and a winnowing out of the sector as competitors cannot raise additional capital. Remember; suckers are always willing to finance bad businesses, but fraud means you immediately sell. It is this fear of endemic fraud tarnishing a whole sector, not economics, that finally ends a bubble.

Following Enron; capital was restricted from pipelines and energy trading. The collapses of WorldCom and Qwest led to a slow-down in fiber-optic buildouts. After the collapses of Ivar Kreuger and Samuel Insull, there was a multi-decade decline in conglomerates and holding companies. Following the collapse of Lehman Brothers, there was a multi-year dearth in underwriting archaic structured products and I’m sure the collapse of Madoff led to a decline in Ponzi investing. There are always second order effects in the sectors where these companies were previously shining lights—along with a lot of carnage. As a rule; if the biggest players were cheating a lot, even the honest guys were cheating a little. With Tesla (TSLAQ – USA) beginning its death rattle it’s worth considering what will happen to the rest of the Profitless Prosperity Sector.

Turning back to the Giga-Fraud; investors are finally realizing that selling cars at a loss and hoping to make it up in volume isn’t a viable business. Adding an EV to a traditional chassis isn’t as revolutionary as hoped (it’s slightly more complicated than adding anti-lock brakes and power steering). However, Tesla (TSLA – USA) is the clear thought leader in the Profitless Prosperity Sector where revenue growth is all that matters and profitability can be ignored indefinitely. When investors lose over $60 billion in Tesla equity value and learn that their bonds are severely impaired, they will stop investing in other money losing start-ups. The collapse of Tesla will be the catalyst for the rest of the Profitless Prosperity Sector to unwind.

Q3/2018 was the high water mark for Tesla’s supposed “profitability.” Q4/2018 will be the high water mark for deliveries. Both metrics will begin to comp negative in Q1/2019. It’s all downhill from here…

Up yours central bankers. You frauds. You rob the working man of his wages, you ******* frauds.
« Last Edit: January 05, 2019, 03:52:30 PM by King Wenceslas »