5 years ago
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The world's total debt load reached a record $253 trillion in 2019
The world's total debt surged by some $9 trillion in the first three quarters of 2019, according to data from the Institute of International Finance, bringing the world's total debt load to $253 trillion, or 322% of its GDP — a record high. Why it matters: In times of economic strength, economists exhort countries to pare back their debt burdens and pay it down to protect against future unrest and downturn.
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Words escape me. Dave Ramsey could make a bundle creating a "debt free plan" for countries...oh wait, that would mean ling within their means and not spending more than they bring in.