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Total global debt tops 325 % of GDP

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Global debt levels rose to more than 325 percent of the world's gross domestic product last year as government debt rose sharply, a report from the Institute for International Finance showed on Wednesday. The IIF's report found that global debt had risen more than $11 trillion in the first nine months of 2016 to more than $217 trillion. The report also found that general government debt accounted for nearly half of the total increase. Reuters

Printing money and zero interest rate, what could get possibly wrong?

Edited by rollover

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It's a bit of an odd figure at 325 percent of global GDP especially when you look at tradingeconomics.com.

They list:-

1) Japan 229.2
2) Greece 176.9
3) Italy 132.7
4) Portugal 129
5) Belgium 106

with the most populus

China 43.9
Inda 69

So how do you get 325 percent, are all the other individual countries figures fiddled?

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8 minutes ago, ChewingGrass said:

It's a bit of an odd figure at 325 percent of global GDP especially when you look at tradingeconomics.com.

They list:-

1) Japan 229.2
2) Greece 176.9
3) Italy 132.7
4) Portugal 129
5) Belgium 106

with the most populus

China 43.9
Inda 69

So how do you get 325 percent, are all the other individual countries figures fiddled?

Average of ratios is not the ratio of averages?  Just a guess. 

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2 hours ago, ChewingGrass said:

It's a bit of an odd figure at 325 percent of global GDP especially when you look at tradingeconomics.com.

They list:-

1) Japan 229.2
2) Greece 176.9
3) Italy 132.7
4) Portugal 129
5) Belgium 106

with the most populus

China 43.9
Inda 69

So how do you get 325 percent, are all the other individual countries figures fiddled?

It sounds like it's total debt/gdp rather than government debt/gdp.  

For example in October 2016 China's public sector debt was reported to be relatively small but its corporate debt was reported to be massive - and China's total debt/gdp was somewhere in the region of 300% and apparently growing rapidly.

 

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Edited by billybong

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26 minutes ago, billybong said:

It sounds like it's total debt/gdp rather than government debt/gdp.  

For example in October 2016 China's public sector debt was reported to be relatively small but its corporate debt was reported to be massive - and China's total debt/gdp was somewhere in the region of 300% and apparently growing rapidly.

This is right.  The Reuters data is defined as total debt.   The tradingeconomics data is defined as only government debt.

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For goodness sake people, it isnt' just public debt - it's private debt too (which economists tend to ignore quite simply because they're feckwits!)

So public, corporate, private (including household) I presume. 

Edited by gruffydd

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7 hours ago, gruffydd said:

For goodness sake people, it isnt' just public debt - it's private debt too (which economists tend to ignore quite simply because they're feckwits!)

So public, corporate, private (including household) I presume. 

Exactly.  Not counting all debt is like an alky saying "excluding my daily bottle of wine, I drink 14 units of alcohol a day".

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