Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
Related: About this forumThe Financial World Has Something Emerging Right Now...And No One Is Talking About It Jack Chapple
This is the global economy right now. One filled with debt, volatile stock markets, high costs of living, and low growth rates. And everyone, seems to be seeing all of the potential doomsday scenarios. From stock market crashes to bigger global economic crashes. And those crashes are very possible, and scary, but what if there is another potential scenario. One that is not discussed about enough, that could turn the tide for the markets, economy, and humanity itself. Something that could be emerging that could change the timeline of the next few decades.
So Lets first take a look at what's happening right now on a step by step basis
The total global debtwhich includes government, corporate, and household debthas surpassed $300 trillion, according to the Institute of International Finance (IIF). This represents more than 350% of the global GDP. And also, just for perspective, all of the gold on planet earth currently is worth only about $12.7 trillion dollars. Or just about 4% of the global debt.
In 2024, global public debt stands at over $90 trillion, with many countries facing challenges related to debt servicing as interest rates have risen due to global monetary tightening. And the comparison here, is that its estimated that one human colony on mars would take about $1 trillion dollars to setup, so theoretically, the public debt is worth about 90 human colonies on the Martian planet.
Global corporate debt is nearing $100 trillion and household debt is at around $60 trillion. What I'm trying to get at is that theres an almost incomprehensible amount of debt in the world, and its been the fastest growing sector of the global economy.
For example, the IMF stated that the global debt to GDP ratio has tripled since the 1970s.
And for many, this is viewed as a ticking time bomb. Because we are already at a point where governments are paying of debt, by taking out more debt to pay off previous debts. Something that if you were to do, would be viewed as irresponsible, but when the government does it, its just business. And this is worrying some that the world could be heading into a debt spiral where at some point, either all debts will go toward paying off debts and not funding government programs. Or the world defaults on its debt at the same time, and we see the greatest collapse of a global economy in the history of time.
But what if that's not the only scenario. Yes, i have shown you times where large empires of the world have collapsed under debt, like the roman empire. Where nearing the end of its empirical reign, it had a crushing amount of debt that it could no longer pay off
However, one part that isnt talked about as much is that Rome also had a period of time of crushing debt early on after its founding, but it was actually able to not only able to avoid collapse, but it actually went through a golden age. You see, early on in the roman empire, Rome became loaded with debt to fund wars, and infrastructure projects. And also, men who joined the military saw their households have to take on debt to survive while they were on a military campaign.
And after decades of debt accumulation, some reforms began to take place. The abolition of debt slavery happened, where people no longer had to become literal slaves if they could not pay their debts off in time. Instead, property would be revoked to pay off debt, something that still happens today quite often.
The empire did obviously gain vast amounts of wealth after every successful conquest, but it also did a few other things. Emperors began gifting land military veterans and other citizens, for free. Imagine today if the government just came by, knocked on your door, and gave you a $100,000 land plot to build a house. That was common place during this time.
The emperor Tiberius Gracchus took this a step further by also limiting the amount of land that the rich and powerful could hold, and began redistributing land to those that were extremely poor or had high debts.
Emperor Gaius Gracchus also began doing economic reforms to alleviate debts from the poor by subsidizing grain prices, and limiting the power of the senate and influence of the wealthy on economic decisions.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
1 replies, 735 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (3)
ReplyReply to this post
1 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
The Financial World Has Something Emerging Right Now...And No One Is Talking About It Jack Chapple (Original Post)
TexasTowelie
Aug 2024
OP
kerry-is-my-prez
(9,204 posts)1. I'm just keeping my investments in a money market fund.
And a little in crypto. I keep hearing scary things about whats going to happen with the market. Im just waiting it out .