$277 Trillion in debt globally, but there's nothing to see here
Globally there is now $277 trillion in debt, what could go wrong?
This is exactly why bitcoin was created and why bitcoin matters.
When the world plowed on ahead with money that wasn't backed by anything other than the full faith and credit of government, the writing was on the wall.
Now that writing looks like a flashing neon sign!
There is projected to be over $277 trillion in debt globally by the end of this year according to Reuters:
(Source: https://twitter.com/Bitcoin/status/1330774810977214464/photo/1)
That seems like a very large number. Especially when it isn't even counting another stimulus plan in the US that is like to be at least another trillion.
Though I guess that only bumps the number from 277 to 278.
What's a trillion or two among friends?
At some point this has to matter, and it will, it's just a matter of when that point is.
My guess is that the point in time when it matters is still far away but money will continue to flow into bitcoin due to these debt levels globally.
It's the escape from debt.
Interest rates can never really rise because of the cost to service this debt.
Low rates forever means long bitcoin and long stocks.
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That is a mind boggling number. Holy cow. I knew the US was getting into the $20 trillions but didn't realize the rest of the world was so far in debt too. As a fiscal conservative it kills me to see so much debt.
Posted Using LeoFinance Beta