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posted by cmn32480 on Friday January 06 2017, @11:12AM   Printer-friendly
from the lotsa-red-ink dept.

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


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  • (Score: 1) by fustakrakich on Friday January 06 2017, @05:54PM

    by fustakrakich (6150) on Friday January 06 2017, @05:54PM (#450312) Journal

    just cancel the debt. However I don't think anyone is seriously suggesting that.

    That's too bad, because that is exactly what should be done. Private business does it all the time through bankruptcy proceedings. The other method is through wars of 'independence' *cough* USA. So, we, the people, should take the same option, but we'll have to take up arms to keep the banks and their government servants from stealing our property.

    Please note that most 'debt' is really just the derivatives markets at work. A better term would be a 'bet' or 'wager', in other words, gambling. The books are so badly cooked so as to be totally irrelevant and nonsensical, big ass lies

    --
    La politica e i criminali sono la stessa cosa..
  • (Score: 0) by Anonymous Coward on Friday January 06 2017, @07:16PM

    by Anonymous Coward on Friday January 06 2017, @07:16PM (#450358)

    I've tried pointing out that our stock system is basically a semi-legit method of gambling and things like high speed trading are just gaming the system. However, since there is a good chunk of legitimacy to the system the glaring flaw of "gambling" is just swept under the rug. The mere fact that 401ks are the most popular retirement system is a big red flag, but I guess we'll have to go through another round of people losing their savings to have that fact burned in to their brains.

    All these games we play with our business enterprises is stressing people out. Many people work insane hours, literally working themselves to death, all so they can get more money. Some because they desire status and power, others because they need to eat... Fuck that system, I think its time we took the toys away from the greedy kids.