The World’s Drowning in Debt — Brace Yourself for Economic Turbulence
==========
The article discusses the global debt crisis and warns of potential economic turbulence. It highlights the overindebtedness of major economies, including the United States, China, Europe, and Japan. The United States is running a budget deficit of around 6% of GDP, which is projected to continue. Commercial-property debt in the US is also a concern, with almost $1.5 trillion in debt maturing in the next two years. China has experienced significant debt growth in its nonfinancial private sector, and its property and credit market bubble has burst. Europe's debt problem is concentrated in the eurozone's south, particularly Italy and Spain. Japan has a public-debt level exceeding 250% of GDP. The article warns that without measures to make debt more sustainable, the world could face a global economic crisis. Economic policymakers should take action to mitigate the risks, or else economic turbulence and financial-market strains could occur.
#DebtCrisis #EconomicTurbulence #BudgetDeficit #Commercial-propertyDebt #GlobalRecession #Financial-marketStrains
https://www.aei.org/op-eds/the-worlds-drowning-in-debt-brace-yourself-for-economic-turbulence/
American Enterprise Institute /
npub14z…4fwd3
2024-02-22 20:36:16
Author Public Key
npub14zq8m4ucx6nteqtxp2d3m8z3tqa2hkcwh4rm96lde0cx2cjwlh9s94fwd3Seen on
wss://relay.nostr.band/allPublished at
2024-02-22 20:36:16Event JSON
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"content": "The World’s Drowning in Debt — Brace Yourself for Economic Turbulence\n==========\n\nThe article discusses the global debt crisis and warns of potential economic turbulence. It highlights the overindebtedness of major economies, including the United States, China, Europe, and Japan. The United States is running a budget deficit of around 6% of GDP, which is projected to continue. Commercial-property debt in the US is also a concern, with almost $1.5 trillion in debt maturing in the next two years. China has experienced significant debt growth in its nonfinancial private sector, and its property and credit market bubble has burst. Europe's debt problem is concentrated in the eurozone's south, particularly Italy and Spain. Japan has a public-debt level exceeding 250% of GDP. The article warns that without measures to make debt more sustainable, the world could face a global economic crisis. Economic policymakers should take action to mitigate the risks, or else economic turbulence and financial-market strains could occur.\n\n#DebtCrisis #EconomicTurbulence #BudgetDeficit #Commercial-propertyDebt #GlobalRecession #Financial-marketStrains\n\nhttps://www.aei.org/op-eds/the-worlds-drowning-in-debt-brace-yourself-for-economic-turbulence/",
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