I think they owe a lot of it to me. Or maybe just the interest. A millionth of the interest?
morbob on
I’ll Gladly pay you on Tuesday for a hamburger today
Worried-Scratch-5549 on
Everybody knows money is just a thing we made up right? It’s not real
BernardMatthewsNorf on
Earth and its irresponsible debts to the Galactic Banking Clan.
RipComfortable7989 on
At this point who really cares? The debt will never be paid off and it doesn’t matter if the debt is trillions, people still need to engage in commerce with one another anyway. No one is going to be the first country that’s going to demand repayment of all their debt, or else what? You’ll collect on it and then cut off all economic ties to the rest of the world?
Strict_Progress7876 on
Does that mean on the other side of the balance sheet global asset value is $338 trillion?
NyriasNeo on
The total world GDP is $111.3T (2024, google). So the debt is roughly 3x the annual GDP. This is not unlike a household having debt (mortgage, car loan, credit card debt) totally about 3x their annual income. So a $100k income household having a total mortgage, car loan and CC debt of around $300k. That is not unheard of.
The only difference is that the debt is hold in the same system by different members.
roesingape on
A Key Point™ to remember when talking about debt is that there is always more debt than money in the world and they must keep printing money because the entire global system relies on 2% annual inflation targets or thereabouts as a means to never actually raise wages while occasionally raising wages. This fun fact is brought to you by your ‚friendly noise artist who hates everyone’™ roesing ape. Visit [roesingape.org](http://roesingape.org) for more dumb shit. Bonus Fact™ the 2% inflation also consistently reduces the value of currency which has the effect of reducing the value of debt. So the regional bank which borrows from the Central Bank at 1% annually while money goes down 2% annually (regulated by the regional banks‘ ability to print money out of thin air for loans to actual people and businesses) ends up paying back less than they borrowed in inflation adjusted value. While they rake in your interest. Fuck you. Your world sucks™.
lemonpepsiking on
Be sure to sit down when you find out how money is made.
CFCYYZ on
Assuming 9 billion world population, at $338 Trillion total debt that is an average of $37,555 debt for every living human.
I am revising my definition of obscenity.
Junior_Calendar8234 on
Turns out all the unidentified uaps we have seen have come from a galactic collection agency attempting to get in touch with us.
Splittinghairs7 on
If the world economy, inflation and population all keep going up why wouldn’t debt increase as well?
SweetSexiestJesus on
Any of yall got change for a 20?
psychedelych on
Nothin I can do about it dawg
Pyroluminous on
If Country A owes 20 million to Country B, Country B owes 20 million to Country C, and Country C owes 20 million to Country A, then doesn’t it just all cancel out?
Rethious on
This is a good reminder that debt is a tool, not just a problem. Countries, corporations, and government departments owe a lot of money, often to one another because it’s easier to work things out through debts and credit rather than trying to get the cash on hand for everything they want to do.
Another factor is the time-value of money. $10 million today may be more valuable than $20 million in five years, not just because of inflation, but because something done today will be immediately be in effect. If you build a new dam, for example, you’re getting the benefits from that sooner than if you had to wait to accumulate the cash, making the interest a fine price to pay.
Where loans can become a problem is when they’re used for social services that don’t provide much economic benefit (for example pensions or elder care). If the hole in the budget these create is significantly larger than the country’s economic growth, it’s headed towards bankruptcy, which means no one’s likely to give them any more loans and there will be a harsh drop in the standard of living. The UK with its aging population, triple lock on pensions, and hostility to immigration is an example of this trajectory.
Right_Turnover490 on
Im doing my part!
Pagan_ink on
Steal more from the global south.
That will surely pay it off.
We’re simply not stealing enough
Galactic-Guardian404 on
Time to rewatch Mr. Robot
hrllhaste on
So is the world broke?
SouLamPersonal on
Credit is the Problem
speedstares on
It’s just one big ponzie scheme isn’t it.
BakingSoda1990 on
Someone take one for the team.
We transfer the all debt to that one person. Then kill them.
IizPyrate on
Without context the amount of debt is pretty useless information.
The terms of the debt are what matters. Japan taking out yet another $100b debt from its own banks and citizens that it basically pays no interest on for a 15 year term is not the same as a poor African nation that takes out $100b of debt on a 5 year term with a 12% interest rate.
Yet they still both count as $100b of debt.
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cue comments asking debt to who?
It’s all a made up system anyway.
I think they owe a lot of it to me. Or maybe just the interest. A millionth of the interest?
I’ll Gladly pay you on Tuesday for a hamburger today
Everybody knows money is just a thing we made up right? It’s not real
Earth and its irresponsible debts to the Galactic Banking Clan.
At this point who really cares? The debt will never be paid off and it doesn’t matter if the debt is trillions, people still need to engage in commerce with one another anyway. No one is going to be the first country that’s going to demand repayment of all their debt, or else what? You’ll collect on it and then cut off all economic ties to the rest of the world?
Does that mean on the other side of the balance sheet global asset value is $338 trillion?
The total world GDP is $111.3T (2024, google). So the debt is roughly 3x the annual GDP. This is not unlike a household having debt (mortgage, car loan, credit card debt) totally about 3x their annual income. So a $100k income household having a total mortgage, car loan and CC debt of around $300k. That is not unheard of.
The only difference is that the debt is hold in the same system by different members.
A Key Point™ to remember when talking about debt is that there is always more debt than money in the world and they must keep printing money because the entire global system relies on 2% annual inflation targets or thereabouts as a means to never actually raise wages while occasionally raising wages. This fun fact is brought to you by your ‚friendly noise artist who hates everyone’™ roesing ape. Visit [roesingape.org](http://roesingape.org) for more dumb shit. Bonus Fact™ the 2% inflation also consistently reduces the value of currency which has the effect of reducing the value of debt. So the regional bank which borrows from the Central Bank at 1% annually while money goes down 2% annually (regulated by the regional banks‘ ability to print money out of thin air for loans to actual people and businesses) ends up paying back less than they borrowed in inflation adjusted value. While they rake in your interest. Fuck you. Your world sucks™.
Be sure to sit down when you find out how money is made.
Assuming 9 billion world population, at $338 Trillion total debt that is an average of $37,555 debt for every living human.
I am revising my definition of obscenity.
Turns out all the unidentified uaps we have seen have come from a galactic collection agency attempting to get in touch with us.
If the world economy, inflation and population all keep going up why wouldn’t debt increase as well?
Any of yall got change for a 20?
Nothin I can do about it dawg
If Country A owes 20 million to Country B, Country B owes 20 million to Country C, and Country C owes 20 million to Country A, then doesn’t it just all cancel out?
This is a good reminder that debt is a tool, not just a problem. Countries, corporations, and government departments owe a lot of money, often to one another because it’s easier to work things out through debts and credit rather than trying to get the cash on hand for everything they want to do.
Another factor is the time-value of money. $10 million today may be more valuable than $20 million in five years, not just because of inflation, but because something done today will be immediately be in effect. If you build a new dam, for example, you’re getting the benefits from that sooner than if you had to wait to accumulate the cash, making the interest a fine price to pay.
Where loans can become a problem is when they’re used for social services that don’t provide much economic benefit (for example pensions or elder care). If the hole in the budget these create is significantly larger than the country’s economic growth, it’s headed towards bankruptcy, which means no one’s likely to give them any more loans and there will be a harsh drop in the standard of living. The UK with its aging population, triple lock on pensions, and hostility to immigration is an example of this trajectory.
Im doing my part!
Steal more from the global south.
That will surely pay it off.
We’re simply not stealing enough
Time to rewatch Mr. Robot
So is the world broke?
Credit is the Problem
It’s just one big ponzie scheme isn’t it.
Someone take one for the team.
We transfer the all debt to that one person. Then kill them.
Without context the amount of debt is pretty useless information.
The terms of the debt are what matters. Japan taking out yet another $100b debt from its own banks and citizens that it basically pays no interest on for a 15 year term is not the same as a poor African nation that takes out $100b of debt on a 5 year term with a 12% interest rate.
Yet they still both count as $100b of debt.