Global debt levels rose to more than 325 percent of the world's gross domestic product last year as government debt rose sharply, a report from the Institute for International Finance showed on Wednesday.
The IIF's report found that global debt had risen more than $11 trillion in the first nine months of 2016 to more than $217 trillion. The report also found that general government debt accounted for nearly half of the total increase.
Emerging market debt rose substantially, as government bond and syndicated loan issuance in 2016 grew to almost three times its 2015 level.
Source: Reuters
(Score: 1) by khallow on Saturday January 07 2017, @02:03AM
Because it sounds as if you think that currently retired people will keep getting money forever and ever after and that it will keep growing exponentially with upcoming retirements.
They'll keep getting money till they die. That's long enough to cause massive problems at the current rate of empty promise.
Granted the soon-to-be "papy boom" may (not necessarily though) create a bump but, worse case scenario, this will be for a few decades. They will all die eventually.
It's long enough. IMHO, we'll have a different system in place by then.