Tuesday, March 11, 2014

World debt reaches $100 trillion, U.S. share 58 percent

Prosperity is impossible with a debt load of this crushing immensity.

Global debt outstanding, that is, all debts public and private, reached $100 trillion in mid-2013, the Bank for International Settlements (BIS) quarterly review revealed.

Credit outstanding has grown by more than $30 trillion since the financial crisis began in 2007.

When compared to data compiled by the Federal Reserve, the U.S. share of the $100 trillion is almost three-fifths — with about $58 trillion credit outstanding nationwide at the end of the second quarter in 2013.

No comments: