Global Debt Levels Have Never Been Higher
The City of Detroit is bankrupt! So what? The United States has passed its debt ceiling. So what? You might be surprised that you are not the only one who might be heavily indebted. In fact, governments are steeped in debt. Financial experts believe that global debt levels have never been higher.
High Global Debt
Americans rise and fall with their governments. That really shouldn’t be a surprise. Most people don’t know it, but their credit rating is tied directly to the United States federal government. If the United States federal government has a lower credit rating, then none of the citizens can have a higher credit rating than the federal government. Sad, but true.
In 2017, the global debt level reached a record $US237 trillion, according to the Business Insider. Whatever happened to that recovery? Didn’t the banker bailout of 2008 make everything copacetic? Zerohedge pointed out that … READ MORE ...