Debt Worldwide Hits Record $86k per Person
Does anyone actually still believe that these debts will all someday be repayed? Does anyone even believe that the amount of debt will go down, rather than up, over the course of any length of time? Even a day? I don't, which raises the question: how does a world where debt monotonically increases indefinitely work? Can that happen forever, in which case debt has just become a standin for currency (that allows people to have negative amounts of currency). Or does it eventually go kabloie? Unfortunately I don't have an answer, but I suspect we'll find out within our lifetime.