$21,714 For Every Man, Woman And Child In The World – This Global Debt Bomb Is Ready To Explode

According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars.  Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number.  If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.

So if you have a family of four, your family’s share of the global debt load would be $86,856.

Very few families could write a check for that amount today, and we also must remember that we live in some of the wealthiest areas on the globe.  Considering the fact that more than 3 billion people around the world live on two dollars a day or less, the truth is that about half the planet would not be capable of contributing toward the repayment of our 152 trillion dollar debt at all.  So they should probably be excluded from these calculations entirely, and that would mean that your family’s share of the debt would ultimately be far, far higher.

Of course global debt repayment will never actually be apportioned by family.  The reason why I am sharing this example is to show you that it is literally impossible for all of this debt to ever be repaid.

We are living during the greatest debt bubble in the history of the world, and our financial engineers have got to keep figuring out ways to keep it growing much faster than global GDP because if it ever stops growing it will burst and destroy the entire global financial system.

Bill Gross, one of the most highly respected financial minds on the entire planet, recently observed that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.

And he is precisely correct.  Everything might seem fine for a while, but one day we are going to hit the wrong bump at the wrong time and the whole thing is going to go KA-BOOM.

The financial crisis of 2008 represented an opportunity to learn from our mistakes, but instead we just papered over our errors and cranked up the global debt creation machine to levels never seen before.  Here is more from Bill Gross

My lesson continued but the crux of it was that in 2017, the global economy has created more credit relative to GDP than that at the beginning of 2008’s disaster. In the U.S., credit of $65 trillion is roughly 350% of annual GDP and the ratio is rising. In China, the ratio has more than doubled in the past decade to nearly 300%. Since 2007, China has added $24 trillion worth of debt to its collective balance sheet. Over the same period, the U.S. and Europe only added $12 trillion each. Capitalism, with its adopted fractional reserve banking system, depends on credit expansion and the printing of additional reserves by central banks, which in turn are re-lent by private banks to create pizza stores, cell phones and a myriad of other products and business enterprises. But the credit creation has limits and the cost of credit (interest rates) must be carefully monitored so that borrowers (think subprime) can pay back the monthly servicing costs. If rates are too high (and credit as a % of GDP too high as well), then potential Lehman black swans can occur. On the other hand, if rates are too low (and credit as a % of GDP declines), then the system breaks down, as savers, pension funds and insurance companies become unable to earn a rate of return high enough to match and service their liabilities.

There is always a price to be paid for going into debt.  It mystifies me that so many Americans seem to not understand this very basic principle.

On an individual level, you could live like a Trump (at least for a while) by getting a whole bunch of credit cards and maxing all of them out.

But eventually a day of reckoning would come.

The same thing happens on a national level.  In recent years we have seen examples in Greece, Cyprus, Zimbabwe, Venezuela and various other European nations.

Here in the United States, more than 9 trillion dollars was added to the national debt during the Obama years.  If we had not taken more than 9 trillion dollars of consumption and brought it into the present, we would most assuredly be in the midst of an epic economic depression right now.

Instead of taking our pain in the short-term, we have sold future generations of Americans as debt slaves, and if they get the chance someday they will look back and curse us for what we have done to them.

Many believe that Donald Trump can make short-term economic conditions even better than Obama did, but how in the world is he going to do that?

Is he going to borrow another 9 trillion dollars?

A big test is coming up.  A while back, Barack Obama and the Republican Congress colluded to suspend the debt ceiling until March 15th, 2017, and this week we are going to hit that deadline.

The U.S. Treasury will be able to implement “emergency measures” for a while, but if the debt ceiling is not raised the U.S. government will not be able to borrow more money and will run out of cash very quickly.  The following comes from David Stockman

The Treasury will likely be out of cash shortly after Memorial Day. That is, the White House will be in the mother of all debt ceiling battles before the Donald and his team even see it coming.

With just $66 billion on hand it is now going to run out of cash before even the bloody battle over Obamacare Lite now underway in the House has been completed. That means that there will not be even a glimmer of hope for the vaunted Trump tax cut stimulus and economic rebound on the horizon.

Trump is going to find it quite challenging to find the votes to raise the debt ceiling.  After everything that has happened, very few Democrats are willing to help Trump with anything, and many Republicans are absolutely against raising the debt ceiling without major spending cut concessions.

So we shall see what happens.

If the debt ceiling is not raised, it will almost certainly mean that a major political crisis and a severe economic downturn are imminent.

But if the debt ceiling is raised, it will mean that Donald Trump and the Republicans in Congress are willingly complicit in the destruction of this country’s long-term economic future.

When you go into debt there are consequences.

And when the greatest debt bubble in human history finally bursts, the consequences will be exceedingly severe.

The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable.

Source: http://theeconomiccollapseblog.com/archives/21714-for-every-man-woman-and-child-in-the-world-this-global-debt-bomb-is-ready-to-explode

12 thoughts on “$21,714 For Every Man, Woman And Child In The World – This Global Debt Bomb Is Ready To Explode

  1. This is part of a video transcript, a humorous way to explain and teach about the nature of money, offered by one of the Dutch bankers, in his presentation about an interest free banking system under construction in Holland, the Bank of Joy. The speaker is Ronald Bernardt:

    “This is, you see, about the fact that we all are thinking in a certain conditioned way about money.
    I managed to knock this together based on a You Tube footage inspiration. The story I’m giving you invites you to think, to think in another way, to let expand your consciousness.

    I happen to arrive on an island with 100 euro. I had done a bit of googling, I like to go on holiday over there and I found that this is the best hotel of the island and I’m going to that place. Arriving at the hotel and meeting the hotelkeeper, I said ‘ Hello, I’ve googled your hotel and I am on vacation here.

    You are the best hotel and for tonight I wish to book a room here, allow me to pay a deposit of 100 euro, to make a reservation, because I’d like to look around on the island just to see if it is really true that you own the best hotel of the island, the best rooms’.

    “Yes, of course, it is the best, so, please, do!’ So, I put the 100 euro on the desk and I say ‘ Well, thank you, cheerio, I’ll spend the afternoon here looking around in the other hotels to check if what you say is really true”.

    I’ve just left and the hotelkeeper grasps the 100 euro and runs right to the baker on that very moment. For he still had a debt of 100 euro at the baker and because he knows, yes, the best hotel is mine, and that deposit, I’ll take it, he will come back, so the hotelkeeper is paying his debt to the baker.

    So, the delivery of new rolls is guaranteed. But that baker too, who doesn’t like to cook after a whole day spending in food, is going to eat in a restaurant every evening. And that’s what he did on credit. This is Greece here. And what happens, with the 100 euro he got from the hotelkeeper, he runs to the restaurant. He says “Hello, I’ll be back for dinner tonight, my debts, here … all cleared.”
    “Yes, very good.”

    But this restaurant owner too, had debts to the butcher, so he’s running with the 100 euro to that butcher and pays his debts, so that he once again gets sausages for his restaurant.

    Well, now that we are talking about matters of the flesh, that butcher had a peculiar kind of hobby; every now and then he went to see a public woman. But there too, he owed 100 euro. He wasn’t welcome anymore.

    So, he’s running to that woman and says ‘Darling, darling, darling, I have good news, may I come back again?’ – ‘ Yes, of course, come back this week, please do, thank you!’.

    She’s now running at high-speed to the hotel, first class, because meanwhile she’s working in the streets, while she normally rents a room in the best hotels!” So, she’s going to pay her debt of 100 euro to the hotel and says ‘Hey, that room is mine again’ and ‘’Yes, sure, everybody’s happy’ and hop – there goes these 100 euro again on the desk of the best hotel.

    When I get back that evening, and yes, I’m not able to explain everything and I say ‘Yes, you might have the best hotel, but just around the corner, I have discovered another hotel, a little bit shabby, but the view in my room, with that terrace, looking out over the sea and the sunset is so magnificent, that I’m taking the little room anyhow, because it’s just perfect over there.

    Would you approve of returning my deposit to me?’ – ‘Of course, yes, here they are, please, here is your 100 euro!” And I’m leaving with these EUR 100 and there is no money anymore. But everybody is free of debts. And there is no money. Everybody is free of debts.

    You’re feeling something? Something is going wrong inside your head. This is the conditioning. But that’s how money works. Money is a means of exchange, aimed at the exchange of our energy, it’s temporarily, because we trust it. But, please, try to get this to the bottom of it. I made this slide, but I must confess that I had to think this over four times, in order to understand it myself.

    The penny must drop eventually. It’s not that easy”.

    Any moment now, the video with the presentation by the Bank of Joy, with English subtitles, will be published on YouTube. I’ll post it in the community. It’s a valuable explanation about the financial system the stock market and the impact of the EU on its members, moneywise….ehh..moneymad.

  2. The cabal/bankers can throw a fit, but they are not gettingf any payment from me. Not a dime, not even a fiat dime!

    • Forgive my comment but, I wanted to reply to you Cecille Chan and forewarn. They may seize bank accounts and financial assetts, they may order the turn in of precious metals like gold was in the early 20th century (1933 offhand by F.D.R., if memory serves), they do have the right currently to seize the contents of any or all, safe deposit boxes, as well. Some investment in silver, gold, etc., is not a bad idea but, as history shows any large amounts can be mandatorily taken by law, at the exchange dollar value, that they set. So, since diamonds value is an artificial creation of the DeBoers Diamond monopoly, cash and precious metals like Gold can be seized, certain gemstones do have significant value but educate yourself before buying. The best I can recommend to you is beginning a local currency through your local merchants (In the US this is legal), Karen Hudes offers some insights on this, This is one means of self protection, that at least, is locally owned and run. At the very least, as example, I do not keep cash in my account except what is necessary for immediate bills. I try to limit feeding the beast by using digital transactions like credit and debit cards as little as possible, find ways to eliminate use of their systems that fund them. This sadly, is something EVERYONE needs to do if we are going to break their stranglehold on the world. The most important thing, is perhaps after making some adjustments personally to protect yourself best you can, is to educate others. PFC if I recall correctly has posted at one point, top banks that you might want to avoid as well.
      I wish you and all, well in your efforts to protect your assets because you can bet, they will try, if they can, a Tunisia like “bail in” here in America, or in your own country. The fiat money is worth-less than toilet paper and they know it, it IS debt.

      • That’s a thoroughly thoughtful response to me, Tye A Hampton, please don’t apologise for its lengthiness or presence. You seem too modest, to me. I think it’s sensible advise and an excellent explanation, you’ve given in it. See for example the Cypriotic banking-acrobatics, made up in the toproom of the Tower of Babel, the Swiss bank in…. Basel, in the link below.

        See the one letter difference? What cosmic humour! All citizens in the world are the providers and the scapegoats both, of power aka money, keeping this tower in existence, with the eye of Sauron vigilant to all who bear the Ring of Truth, sending Dementors in smoke and mirror-veiled rags of deceipt, to shut them down. There are too many of us now, those without the Ring of Truth are becoming outnumbered.

        http://www.bbc.co.uk/news/world-europe-21821155

  3. I refer you to the “Bretton Woods Agreement”
    First, IMF is a private bank.
    Second, they do not “lend money” to economically disadvantaged countries.
    Third, countries with membership pay a membership fee.
    The IMF then dictates to the member country how much of their currency that has landed outside their boards that they must buy back.
    Fourth, member countries have “drawing rights”, that is, they get a document saying that they promise to pay interest and principle and receive a letter of credit, and nothing of real and true value is handed to a member country, In other words, the IMF gave nothing of value, no currency from any other country, no gold, therefore, there was and is no lawful loan, therefore, principle and interest are not payable, therefore the debt, principle and interest is not collectible.
    This unfortunately is how this system works. The debts to the private IMF, countries, provinces, school board, municipalities, and states is fictional. As there is nothing behind the money but your pledged labour to pay illegal taxes, purchase licences, registrations, and insurance.
    This is the hijacking and treasonous act of subverting the financial system of each country by replacing and stealing the function of a countries “Central Bank”, effectively, and as a Rothschild pointed out, the giving away of the sovereignty of every country.
    If you think you owe someone or entity, you are still brain washed. Please educate yourself on the money system, and I would suggest some form of EMF therapy to help your brain function better.
    I refer you to the whistle blower Karen Hudes, who formerly worked for IMF and Swiss Clearing House
    PS At the local court house, in Alberta, at head level, by the Queens Bench counter only, where one would go get remedy for human rights violations, they have a “pest zapper”, emitting sonic and ultrasonic frequencies to interrupt your brain waves.
    We are at war, the worst kind, psychological, and to have our own unencumbered thoughts !

    Peace and enlightenment to all who can handle the truth.

  4. What I’d like to know is, who does the World owe this 152 Trillion dollars to?
    And what would happen if the World reneged on this alleged debt?
    Who would come after this planet demanding they be paid?

    Instead of giving away this enormous amount of money, we could redirect it to serve the best needs of our World, like ending poverty for starters.
    Every rich, ultra-rich and unbelievably rich (think of Evelyn Rothschild’s 500 Trillion dollar holdings) people should be cut off from all income until our World is financially and economically stabilized.

    Do you think the rich would suffer for 1 second without their waterfall of finances flowing to them?
    Will they suddenly run out of groceries in their mansions?
    Will they suddenly be evicted from their mansions?
    Will they suddenly get their vehicles repossessed?
    I think not!
    Because they are not in debt up to their eye-balls like the masses are!
    If our income suddenly dries up, we would be in deep trouble to survive.

    I think it is high time for those of us in the right place to cut off all finances to the uber-rich and flood our economy with their ill gotten wealth.

    As a matter of fact, Evelyn Rothschild can easily pay off our World’s debt himself and still have hundreds of Trillions of dollars left in his account!

    Let’s do this NOW!

    Namaste.

  5. As a second thought on the former comment here, when we look at the numerous initiatives to create a local currency and a system based on exchange of services, material and non-material, the signs are clear to me.
    I mean, the moving away from the gigantic bubble with invisible digital money is happening as we speak.
    If we’re really offered free will, some of us may choose to join the old fairy tale of power and money and some of us may find ourselves living in self-sustainable communities, choosing to be the creators of our reality.
    The window of time now is offering much potential, as I perceive it. I feel we’re invited to use our magic wand, representing our truest heart’s desire. Let there be light…. and voila…. there is light 🙂

  6. Ok now,
    Who do we owe 2 Trillion dollars debt?
    I don’t think that buildings or machines or lands or road needs money for food or their bills!
    So, do we owe that money to person?
    don’t tell me that, we owe the money to Corporations or Bankers or Cabal, those are just the labels
    so there must be a person we owe?
    why don’t we as an entire Planet Earth stop paying our bills? this balloon is going to blow-up anyway!
    This is just the lifelong nightmare,
    Money is an illusion
    You shouldn’t even wrote a blog about money
    Cabal’s most powerful weapon agains humanity
    We don’t owe anything to anyone, because we are all one, WAKE UP!

  7. Thank you for the article it is missing only one fact, and firgive the length here but; This, as I understand it, like the fiat debt of your home mortgage, is Fiat Debt for Fiat National Currencies; In the USA, we must dissolve the so called “federal” Reserve by bankrupting the (un)federal Reserve Banks, eliminate the federal reserve act, accept the offer from the Global Debt Facility (GDF), to replace that petro-fiat-dollar with U.S. Treasury Currency (see @karenhudes on twitter), issued from our trillions and trillions of US Gold Reserve on deposit with the International Bank of Reconstruction and Development / GDF, reinstate the U.S. Constitution of 1789 replacing the fake one now enabling the corporatizing of America, with the original and only, real one, and the illusion of this “Fiat Currency Debt” disappears, every nation on Earth will soon follow issuing asset backed currencies, and the Global Currency Reset proceeds as is inevitable. The alternative, is too horrible to imagine, a crashed US and world economy with the added frosting on the cake of seemingly inevitable World War III… However thus far, everybody’s acclaimed savior Mr Trump, although he has been made well aware of these facts in writing by the Global Debt Facility, has criminally backed his cabal buddies as he refuses to take the steps necessary to restore our freedom and restore our soveignty over our own currency and country, instead filling the DC Swamp to overflowing with ever more sewage. Pedogate, Russian election fraud, true or not, both are still carefully planned propagandized distractions. We must really and truly drain the swamp by restoring the US Constitution, bankrupt and eliminate “the Fed”, accept the GDF deal, unseat this criminal board president Trump, along with his vp, illegitimate SC and most, of congress (any attorney holding congressional seat is not permitted under the Constitution ie: lawyers should not be writing / passing the laws, it builds in corruption, our founding fathers knew this), those non-lawyer congress people remaining must then, announce NESARA, hold new, free and fair constitutional elections, and call a Constitutional Congress, these are the steps we must take, take courageously, and take SOON.

  8. Financial reset is what we need anyway, per Cobra. The money now is all fake, credit in a computer system, just add some more 0000s and keep the game going until the event happens.

  9. But it is all fiat currency, they print it at will and there’s nothing backing it plus it’s the dark govt doing it anyway so they can fund their dark projects, let them pay it all back. The Fed Reserve we know is a corrupt private entity. Plus the global debt facility and what the Fed Reserve owes the global debt facility can replace all the fake federal reserve notes for real treasury notes.

  10. What comes after the bubble (collapsing) will be absolutely unthinkable, yes, but not in the way of disaster I believe. It’s unthinkable for one reason only and that’s because we’re not in the space yet, where a new way of living together can manifest or exist. I’m sure we’ll be fine, to our present mind it’s incomprehensible how that will be achieved, but I’m sure we will achieve a way that works for us. The spell that is placed on money and our addiction on it, will be dispelled at some point and that’s one of the main liberations of humanity and planet Earth. Who knows, there’s a chance that part of our global population will live without money and that another part will live with a financial system, including the old paradigm of power and money ruling the world.

Leave a Reply

Top
%d bloggers like this: