Global Debt has reached a new high and has surpassed a record mark of 250 trillion dollars according to a press release by the Institute of International Finance as on Nov 20th. The debt has also hard and reached a record of 71.4 trillion dollars for emerging market economy. This is indeed a very difficult and a tough situation. To put it in different term the figures reported by the institute is equal to 32,500 dollars for each person on this planet or 1.21 million per Bitcoin (BTC).
Image Source: static.independent.co.uk
Is debt that has been projected is that bad enough, because after all debt can stimulate growth, enabling the country to improve its infrastructure, built hospitals , schools, roads and ensure higher well being of its nation and thereby improving the living standard of its citizen. It can raise the country’s standard of living and help them increase their economic and social status and reach new heights in terms of development. According to Dylan Riddle a correspondent from a major finance newspaper debt is good for the betterment of a nation’s economy, but too much is also not good and it raises concern because it can take the take any economy down with and put the global economy is crisis mode and with it the entire financial system.
Image Source: www.pennlive.com
According to the correspondent the global economy has added about 75 trillion dollars worth of debt since the last recession which happened a decade back. But arriving and drawing conclusion soon enough is not a good idea because there are many factors that work behind the scene and to put up a yardstick on which point the alarm should be in red is like equivalent to guessing according to William D. Lastrapes, teacher of economics at University of Georgia.
Source: Coin Telegraph
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