Debt Worldwide Hits Record $86k per Person
bloomberg.com
Debt Worldwide Hits Record $86k per Person
1–10 of 287 posts
Re: Debt Worldwide Hits Record $86k per Person
#2Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people to have negative amounts of currency). Or does it eventually go kabloie? Unfortunately I don't have an answer, but I suspect we'll find out within our lifetime.
Re: Debt Worldwide Hits Record $86k per Person
#3Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
We'll just go to war eventually with someone.
Re: Debt Worldwide Hits Record $86k per Person
#4Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
I'm excited to see how all kinds of things unfold in the next 50 years. Supposedly max human population, running out of oil, icecaps melting, unsustainable amount of food production, dying ecosystems. The economy seems like the least troubling really as it is all superficial anyway.
Re: Debt Worldwide Hits Record $86k per Person
#5I'm ignorant on this, but to me there are two kinds of debt. 1) Personal debt, like I took out a car loan and I can get the car repossessed or the loan sold to debt collectors. 2) Debt that exists just to create more money i.e. the IMF or Fed Reserve decide to have an expansionary monetary policy and they lend from... what exactly? The purpose is to just control inflation.
I'm guessing this is the second kind of debt, but the title makes it sound like the first.
Re: Debt Worldwide Hits Record $86k per Person
#6Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
I'm excited to see how all kinds of things unfold in the next 50 years. Supposedly max human population, running out of oil, icecaps melting, unsustainable amount of food production, dying ecosystems. The economy seems like the least troubling really as it is all superficial anyway.
Me too! I think some things like “unsustainable food production” will probably slowly resolve itself with increases in automation and efficiency, but I do think runaway global warming will need a drastic solution.
What other ones do you think will be hardest to solve?
Re: Debt Worldwide Hits Record $86k per Person
#7Similar to how the US bailed out the banks. How about the citizens are bailed out. It would boost the economy. Restore faith in the system!
Re: Debt Worldwide Hits Record $86k per Person
#8Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
It doesn't need to be repaid. It creates relationships, in the form of ownership or shared risk. Its why inflation is key and having control over interest rates and quantitate easing is such a powerful tool for managing all this. All this is not to say that it won't blow up in our face (in particular with perverse incentives where we continue to destroy on our environment).
Re: Debt Worldwide Hits Record $86k per Person
#9Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people…
I think many think articles like this intentionally make the numbers seem as scary as possible. Negative currency (debt) is a good thing for most people. It is what enables people to buy cars and houses or go to college. Of course, many individuals will get in over their head but on the whole it is a positive thing that individuals can take out mortgage and owe more on the house than they put down. The same goes for companies and governments.
Re: Debt Worldwide Hits Record $86k per Person
#10I'm ignorant on this, but to me there are two kinds of debt. 1) Personal debt, like I took out a car loan and I can get the car repossessed or the loan sold to debt collectors. 2) Debt that exists just to create more money i.e. the IMF or Fed Reserve decide to have an expansionary monetary policy and they lend from... what exactly? The purpose is to just control inflation. I'm guessing this is the second kind of debt…
I agree that the article conflates a lot of issues and I can't find a clear explanation on how government debt is calculated. Most of the global debt in the world is from governments and in this case it isnt the worst thing as is usually a relationship where a government owes its own people money but the people owe the government money every year in taxes too.