Global debt soars, along with fears of crisis ahead

Tuesday, September 4, 2018 | Tag Cloud Tags: , , , , , , , ,

(Worthy News) - Ten years after the worst financial panic since the 1930s, growing debt burdens in key developing economies are fueling fears of a new crisis that could spread far beyond the disruption sweeping Turkey.

The loss of investor confidence in the Turkish lira, which has surrendered more than 40 percent of its value this year, is only a preview of debt problems that could engulf countries such as Brazil, South Africa, Russia and Indonesia, some economists say.

Total debt is a whopping $169 trillion, up from $97 trillion on the eve of the Great Recession, according to the McKinsey Global Institute. [ Source: Washington Post (Read More...) ]

Copyright 1999-2018 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

1 thought on “Global debt soars, along with fears of crisis ahead

  1. So, to whom do all the world's countries owe all this debt? To the Bankers of the World ..... the Central Banks, the World Bank, the IMF! It's the Bankers who fund both sides and profit from the wars they help create. The REAL enemy of the world is 'The Bankers'. Let's go to war against the Bankers .......... "for the love of money is the root of all evil".

Leave a Comment