Monday, October 17, 2011

Global Debt Clock: 43 Trillion and counting

Many Americans have seen the websites that contain the National Debt Clock, and the US's over $14 trillion in debt.  Now we can add a new debt clock to the mix, only this one is a complete global debt clock, with a price tag of over $43 Trillion and growing.

Courtesy of the Economist

In 2009, the global GDP was $58.26 Trillion dollars.  So with the current global debt at $43 Trillion, the debt is now 74% of total GDP.

For countries like the US, their debt is 98-100% of GDP, making them insolvent.  At the going rate of debt rising internationally, the entire world will be insolvent within 3-5 years.

Is it any wonder we are seeing an Arab Spring, riots in Europe, and Occupy Wall Street?

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