The world debts are too damn high!

Global debts are at a new record high of $237 trillion. This is a rise of $21 trillion compared with 2016. Debts are rising particularly sharply in China, Argentina, Nigeria and Turkey. Households in Europe are also borrowing enthusiastically. The global debt-to-GDP ratio has dipped 318%, due to strong economic growth. But if this growth spurt subsides or interest rates rises, the debt burden could bring serious risks for the world economy.

Jimmy McMillan, New York Gubernatorial debate, 18.10.2010, Tim Wallace, 10.04.2018, 09.04.2018