Global Debt at Record High, Raising Fears of Another Financial Crisis | Vantage with Palki Sharma
ฝัง
- เผยแพร่เมื่อ 8 ก.ย. 2024
- Global Debt at Record High, Raising Fears of Another Financial Crisis | Vantage with Palki Sharma
The world is drowning in debt, with the total amount owed now reaching a staggering $315 trillion, which is nearly three times the global GDP. The debt is spread across households, businesses, and governments. Experts warn that this unsustainable level of debt raises the risk of large-scale defaults, which could trigger a new financial crisis. Large debt burdens can have devastating consequences, especially for households. Defaults can lead to families losing their homes and savings. Further, the rise of "Buy Now, Pay Later" (BNPL) platforms is creating more risks. These platforms offer easy loans with flexible repayment options, but they often come with high-interest rates. Palki Sharma tells you more.
---
Global GDP | USA | China | Debt | Economy | Defaults | Global Risk | India | BNPL | JPMorgan Chase | Jamie Dimon | Firstpost | World News | Vantage | Palki Sharma
#usa #economy #globaldebt #globalrisk #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
Subscribe to Firstpost channel and press the bell icon to get notified when we go live.
/ @firstpost
Follow Firstpost on Instagram:
/ firstpost
Follow Firstpost on Facebook:
/ firstpostin
Follow Firstpost on Twitter:
/ firstpost
Follow Firstpost on WhatsApp:
www.whatsapp.c...
I make over six figures. With my life style I can’t live in a poor area anymore. This guy want someone making over $3 million to downsize is lifestyle. Like we going to live for ever.
I squirelled away cash for a rainy day, but with inflation pouring down, it feels more like a leaky bucket. Saving for retirement seems impossible if my money keeps losing value faster than I can earn it.
Financial literacy is so important. We should have it as a mandatory course in school. Luckily we have all these incredible content creators on TH-cam teaching what we missed in school.
That makes sense. Unlike us, you seem to have the market figured out. Who’s your fiduciary?
Dustin Dwain King is my asset manager. Just research his name to find the details and set up an appointment...
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15% in just two years, effectively countering inflation.
Given that the debt problem has the potential to devastate the stock market and cause economic downturns. We must be ready for any turbulence in the market. How can I prevent the decline of my $200K stock portfolio?
I've read that there seems to be a combination of things. The instability is exacerbated by high levels of personal, business, and government debt. It resembles an ideal storm. To assist you in allocating stocks in your portfolio, you should speak with an expert.
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
Hope you don't mind if I ask you to recommend this particular professional you use their service?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm impressed with the recommended advisor's prompt response and expertise. Their clarity and professionalism instilled confidence from the start. Excited to explore opportunities together!
Every sensible person can understand that global financial crises are around the corner.
But stock markets are at all time highs.
@@maxcloutier5285Bubble will explode
@@maxcloutier5285 they going call it a correction of the market when it collapse
@@maxcloutier5285 first casualty will be real estate
Everyone is not sensible.
When money is worthless and everything is expensive, then debt will be the new coin
isn't money technically a debt? a dollar is nothing but govt borrowing from people.
Best comment
@@sudoname money is simply a tool that gives access to goods and services. Debt and wealth are just indicators of how much access an item/service/person/ business has to the keep surviving. Remove money and it is replaced by goods for goods which has other problems.
Worth of printed money of the world ? Ans
Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $120K stock portfolio against declining?
From what I've read, it seems to be a mix of factors. High government debt, corporate debt, and even personal debt are contributing to the instability. It's like a perfect storm. You should contact an expert to help you allocate stocks in your portfolio
I talk a lot about how important it is to have an advisor.This kept me afloat and increased my $450,000 portfolio by 48% in just 4 months.They have strategies that are tailored to your long-term goals and your desired financial situation.
I talk a lot about how important it is to have an advisor.This kept me afloat and increased my $450,000 portfolio by 48% in just 4 months.They have strategies that are tailored to your long-term goals and your desired financial situation.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors I can connect with? I'm in dire need of proper portfolio allocation
This global downturn could have long-lasting repercussions. Given the current inflation rate,my main worry is how to optimize my savings and retirement fund which has remained stagnant yielding almost no gains for quite some time.
I’m facing the exact dilemma at the moment.. Recessions have a way of messing with People’s financial portfolios and earning power.
@@ReubenAxelsonI understand your plight
It does worry me a bit, but not as much as it would worry the average guy, my investment portfolio has survived a couple of recessions unscathed, been privileged to be guided under the stewardship of an extremely gifted investment manager.
Wow.. that’s a good one !! It must feel great to have attained such a level of stability!!
I hope it’s okay to inquire if you’re still working with the same Advisor..???
Big surprise, the entire world has been living beyond its means for decades...
Not really only western countries they are repaying to asia they looted
How give this debt😂
You sound gullible. Its all fake.
@@Hhh93556U r dumb if udk that.
Not possible with gold backed currency. This is result of usd currency. A fiat currency. Real money is silver gold
We know but Palki is everyday 24/7 talking in supporting US hegemony and talking suppress China’s rise. China is a game changer to dethrone USA hegemony.
@@ninersnation3298 gold silver will decide ultimately.
@@ninersnation3298👍
@@ninersnation3298palki is neither usa supporter nor china.
she is modi supporter and this channel support that modi ideology, that's why she have to talk like whenmatter comes according to rss ideology.
@@RenupriyaJaiswalnot Modi/RSS ideology it's Bharath ideology. If U don't agree, please leave to U r fav country 😂😂😂
I'm not worried.
I've bought enough lead and brass to go hunting for decades of necessary. 😎😀
Worth of printed money of the world ? Ans
Main reason is the rising cost of real estate all over the world. My dad bought a home and paid his loans in 10 years. Now a days most mortgages are paid for 25 years.
Spirituality is only solution for all global issues
But not all people r gonna understand this.
Government collecting the Taxes from individual and corporate but still borrowing money for what purpose?
W A R S
The idea is not to pay the debt inflate the debt away paper currency is just digits on a paper its not money
So that future generations pay as slaves. And own nothing. While the elites live richly.
To fullfil the Promises of Freebies to win Elections. So much for democracy.
WARS
Why palki never mention debt India lend to sri Lanka which is around 25% of sri Lanka total?
Debt trap...
And china
@@alegontaxon749for your kind information india has never demanded repayment or acquired strategic assets in lieu like china. African countries owe india 1 trillion Indian rupees..but hardly anyone knows because india never made a fuss of that.....we may not be very rich because of our huge population but we believe we share our meagre resources with others too....
Difference between interest rate.
@@alegontaxon749 it's a Chinese debt trap, since they have 52% payments to China. They're building ports in SL.
sri lanka debt to china is 8 to 10%. most of their debts is to the IMF, world bank and india
China didnt bother to restructure the loans for Sri lanka. As a result it went into financial crisis. Thats when India helped and provided a humantarian package. If u dont know the full story then dont comment. Ask the Sri lankans. 🇮🇳🤝🇱🇰
The fact is Sri Lanka not able to pay the debt due to inflation. All debt holders have to write off in the future.
The main debt problem is not about the rates, but about the currency of the debt. If the USD goes up by 300% against SL rupee, SL will be in deep trouble.
We owing aliens?
🤣🤣🤣🤣🤣
Example: US and India Debted to Japan, శ్రీలంక and Pak Debted to China, US and Indian govt debted to pensioner s, Japan debted to it's citizens, Canadian citizens debted to banks etc...
Any non payment will.break the chain.
Why are they still giving loan? Do they have option!
EXACTLY!!!
I said that before I actually saw this comment about aliens 😂😂🤣😂
@adolft_official chudlullah
to whom we are owing
Ourselves in the form of fiat. Remember, the same loan money is further extended as a loan tk another entity. An easy example is NBFC, which takes a loan from RBI and gives it to another entity at higher interest. That's why financial crises always have ripple effects.
Decrease internet rate than increase interest rate and so on and on and on..... Ha ha hum sab ko chutiya bana diya 😃😃@@deepeshsao1008
to our future selves
Deleted my comment. Da!m youtube
@@adithcrazy673 I face it many time
We need to put a check on online payment platforms who lend loans in a Jiffy. People are misusing it to live a lavish lifestyle without foreseen consequences. Same with credit cards. Living of debt has become a fashion these days.
who owes who and who gives out the money for the loans...
The poors owes to the riches.
Modern slavery.
From Aliens 😂😂😂
@@maxcloutier5285so what’s your assets worth?
Money owns money, money takes loan money returns back or it doesn't money doesn't suffer it's money cycle trap done by humans.
From your mum..🤪😜@@FreeSoul76
Firstpost, This video is fantastic! I liked it a lot!
This is not debt. This is our total output. When all money is created out of debt, we never make a profit.
The problem is all money is brought into existence through the means of a loan. Then has to be paid back plus interest. This means only the principal of the loan is digitally printed into existence not the interest. So how do you pay back the interest on all this money created out of debt. You can’t. And there lies the problem.
Beyond the scary headline, it'd have been good if the global debt (national, business and personal) was displayed country wise, so that we know the economic situation of each country and its contribution to global debt.
Murica… numba one!!
lower & middle class individual defaulting not on loans
but being unable to payoff rising cost of living is more of a concern
for being unable to raise their earnings faster than inflation ...
while in stark contrast
every year the world records more billionaires than ever before
Number is infinity 🤣 you can increase debt as much as you print money without backed by gold
My family contribution Is 0 😂😂😂😂 never took any loan or credit card
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
If you lack knowledge about market investing tactics, get advice from a financial counselor.
@@ericmendels That's true, but I've also noticed some sectors like renewable energy and EVs are doing well. It seems like the market is reacting to shifts in the economic landscape. I use an advisor and who has been doing a great job raking over $120,000 in this volatility
@@hullbruce Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
@@Jaymilnere Melissa Jean Talingdan is the licensed fiduciary I use. Just research the name. You’d find necessary details to set up an appointment.
Melissa Jean Talingdan is the licensed fiduciary I use. Just research the name. You’d find necessary details to set up an appointment.
If currency is Gold backed and your country has X tons of gold, hence you can only print Y amt of paper currency in reference to the X ton of gold..and you should not print more than that value.
Then the amount won't go out of hand, but we are not doing so already..so when we run out of paper currency..we just print more.. and it will get out of hand.
Global GDP is 109 trillion, while total debt is 315 trillion. Many are questioning below as to whom we owe this coz this doesnt make sense. Even I have similar questions. Does anyone know about this? I thought it would be like law of conservation of energy wherein total gdp ~= total debt.
My guess is that Global GDP is per year, but debt/loans are over many years(aka from our future). Like my house loan is not just for this year. Its for next 20 to 30 years. Maybe this is why global debt is 3 times compared to Global GDP. Is this correct assumption?
Its like buying from the future.. they are taking loan at a higher rate than gdp growth rate... and it needs to be continued in future also..for spending... its the whole system running on debt..
This debtors owe to people. Because banks gave loans to government from saving accounts of people and also pension accounts and other investments made by people.
Suppose all people start withdrawing money from banks at same time. World would collapse.
You have asked a very intelligent question. Because yes, how can the world "owe" $312T? The fact is the figure is meaningless, and is just used to scare people. Most of that debt is just double counting. If Bank A owes Bank B $1B, and Bank B owes Bank A $1B, obviously those two events cancel each other out commercially. Over time, if the figures grow ten fold, so that each bank then owes the other $10B, then there is still no financial problem, but someone will make a scary story about debt having grown from $2B to $20B. Most of the so-called $311T of debt around the world is between banks that owe a lot of money to each other and are also owed a lot of money by each other. The part that the scare stories never mention is that if everyone in aggregate "owes" $311T then it is also true that everyone in aggregate is "owed" $311T. So instead of it being called a crisis, it can equally be said that the world has never been owed more money. But that doesn't generate clicks like scare stories do.
315 trillion not 312.
@@swapneelbehera260 Yeah, ok
Sri lanka's debt to china is 10-11%.
Thy just like to make china 🇨🇳 look bad , dats what western media and their puppets do for a living
So china is debt free?? No. So who we owe this debt 😂😂😂
@@Hhh93556 World bank, imf, asian development bank etc.. and bunch of private banks
52% according to her, speaking nonsense. China is not the biggest lender, Sri Lanka’s debt to Japan is also about the same, but nobody accused Japan as a debt trap.
The interest rate has huge difference. And also Japan gives loans for Sri Lanka like railway and route network are in profit but China's give loan port is disaster failure@@madsam0320
Former 10th President Ferdinand Emmanuel Edralin Marcos Sr. - $315 Trillion Dollar & 195 Countries in the World
PH - USA - UK
❌ The End of Russia, North Korea, Iran, China ❌
There should be high interest
rates on deposits as savings level
has gone down.Interest rates on
loans should be moderate not
less.
This is called money multiplier effect
For anyone wondering. Global debt : basically borrowing your own wealth from the future. You have 100 dollar doesnt mean it is 100, it is 10 dollar and 90 dollar borrowed from your own future self.
If somehow every single person in the world withdraw their money, the economy would collapse in a reset
Isn't debt raised for future expansions & projects? If so then why would u compare with current gdp/ production.
Debt is good even at individual levels when u have assured cashinflows, who pays lump sum when u can emi.
And govt. debt shouldn't be dealt as it is done with pvt. Consideration need to be given for the robust regulatories and optimum use of resources brought in as debt.
Money printers go brrr
Valuable message
Sujatha Calicut
Real money is gold ,paper money is useless
Dnt worry my dear,anything can be created in thin air
Nice video Palki. Which are the biggest companies in India offering BNPL schemes to people?
There are a lot of products and services that are “under the radar”. The recorded GDP is that which is tracked and taxed by governments.
Unfortunately, the illicit GDP, which is probably 2 or 3 times the official GDP number, is not financed by debt. Mainly because they don’t need to…
Valuable message 👍Lathika clt
Debt should be compared to asset, not income. Though some other estimates tell us the total debt may be over 500 trillion, after including the securitized debts, the total fixed plus financial asset is much bigger than 500 trillion. If you compare the scenario to the personal situation, of somebody who has salary, debt and assets then GDP is compared to salary, and in most cases his assets should be more than his debt. In macro economics GDP is mostly equal to the gross national income (GNI). Normally debt holders are expected to pay back the debt over a period from his income.
The world basically runs on credit financing system and creating bubble in all forms of assets
Countries like USA, China , Turkey , Egypt , Brazil , Pakistan ahead high debts and budget deficits . Plus the war mongering situation on a global.level will further deteriorate the crisis. This world requires good leaders with a strong mindset towards sustainable development and even marginal growth is justified among it is inclusive.
what are the major things that can trigger the large defaults which can lead to great depression?
How does this equate to the value of Subprime defaults in the Great Recession?
... my guess, conservatively, is it's less than a 1/4
by the end of 2024.
Just to clear something, GDP stands for something like total value of goods and services produced that "YEAR", i.e. a single year. And debt can be paid over multiple year. If we continue the shop analogy. The shop will need to save 10% of it earning into repayment of the loans and it will be cleared in 30 years. 15 if we save 20%. But what if taking a debt of 20 trillion increase my earning with 50 trillion? wont debt we good thing then?
No Wise owl. Leaders will use the 50 trillions earning to buy bombs and WE, the people will be stuck with the 20 trillions debt. This is why the total debt is so high.
Yes, if you repay that after earning that 50 trillion. The government spent that 50 trillion on subsidy for manufacturing, and some other unknown project.
@@himanshusinghal242 Yes and that makes sense if the ROI is better than your interest rate it's better you send/invest it.
@@Wise-owl-uq8lh yes, the term is invest; not spent on welfare progrem with no return. welfare increase quality of life: yes, they are a good investment to hope for a better tax return: in your dreams.
@@Wise-owl-uq8lh depends on you spend it as investment or freebies
Thank you sir!
The Globe has an Owner and we are indebted to whoever enables us to buy now, pay later. Fiat Economic system.
Hello maim you are really a great journalist… ❤❤ i just want to say you THANKYOU SO MUCH for everything every report… etc
When the currency is delinked with gold, the only way to generate money is debt, the only way to fix this is to link currently to an intangible asset which is globally acceptable like gold.
Monetary prices are man-made. People are in debt because prices have became unaffordable high.
Please provide corresponding value of global assets also.
Palki, why don't you cover India's debt first which is more localised rather than covering Global debt which is not specific and on a broader spectrum.
Yes, the figure is apparently high, but the amount is not a point phenomena, rather it has a spread - say 3 yrs, 5 yrs or 10 yrs. We need to calculate the earnings over the same periods and see the payability of these loans in order to do a tangible math. Mere connecting the debt with GDP is not a solution, neither making hue and cry of it makes sense.
They borrowed from whom?
Come on palki the world have been and will be in debt. Let’s not be hypocrites
its the debt/gdp ratio we are concerned about, not the amount of debt itself. the ratio was ~1 in 1970, grew to ~2 by 2007 and now ~3.
Welcome🙏👍🌹
I remembered song line from taare zameen par. जेब खाली तो उधार जी ज़िन्दगी
By Now Pay later has become By now Pay Never ..lol
Household debt things to consider that before 2016 Dec people used to borrow from friends, relatives pvt lenders. Avoiding banks and nbfc at 24-60% yrly now PPL are social in other terms but not in lending help with or without %. My father never borrowed money from the bank even for house he was more comfortable in personal borrowing even at a higher rate compare to bank. Due to paper work but in towards generation circumstances are different approach is different too.
There is something I could never figure out. Who is paying this debt to whom on Earth.
It’s the debt to the central banks.
USHA Rani,, Thanissery,, Karalam,, Thrissur 🙏🙏🙏
Nice presentation of the world scenario.
Well done Palki is truly parlivebel
I wonder if all paper money will be intentionally devalued...
And the main reason for defaulting debts are because interest,
Just imagine if these debts were given without internet what will be the actual value of global debt.
If one with a sound mind analyses he will find that interest is the cause of many such problems
We should unite and stand-up to say no to intrest.
#say_no_to_interst
You ought to mentioned America's USd 34 trillion debt too. Besides IMF, India too has provided soft loan of couple of billion dollars to Sri Lank, though I do not recall more specific number.
but this isn't how debt works? we take debt when we are not earning enough? its only 3 times the global earning. When you buy a house, the housing loan is approximately 5 times of your annual income
Universal bacus income in imminent ❤
🙏oam namasivaya sreekala Vishnu chithira thulam rashl karunagappalli 🙏
Debits generate interest. Only interest has value.
What is americas contribution regarding this GLOBAL debt , how do they run sort
Well, just the absolute debt owed without the tenure and interest rate doesn't paint the complete picture. If the debt of $315 tn is due in 10 years, then the problem isn't as big since GDP is $109 trillion and growing every year?
"Difficult hours come to Earth to make people turn to the Divine" Divine Mother (quoted from Memory)
Buy physical silver and gold. Silver is super undervalued
Love you palki sharma
I will repay my credit card debt today palki mam...
If the world as a whole owes money then who do we owe it to?
Exactly. For everyone who owes $1, someone is owed $1. The scary headline could just as easily say "The world is owed $315T, more than ever before".
I know we all can’t be in the same Financial state some have to be Rich some poor but if we work together as one like plenty can be done
What about the net worth of assets on the planet? That is around $1500 trillion. So all is well, nothing to worry!
PS , SriLanka total debt was Usd45 Billions. Owed China Usd 10Billion. The rest were from the West.
Read the book “How economy grows and why it crashes” by Peter Schiff
I was going to congratulate Palki on a well informed presentation. Then out of the blue, she inserted Sri Lanka and its debt to China. Palki: why do you let your obsessive hatred of China mar your reputation as a brilliant presenter?
Murica: I'm no. 1!!!
We have already paid for the debt via inflation, taxes and GST.. all it means is we need to give the government 90% of income in near future.
Effects of Dedollarization, i.e. financial crisis will be seen after US election
Not all is being reported,The Monarchy within each country is not counted,aswell as militaire goverment spending. the Have's and the Have not, who's getting Rich and who is paying the most TAXES.
These ultra high debt wil require high nature exploitation to recover, even then its recovery is impossible. So, worldwide multinational defaults is inevitable.
our indian govt debt were in 2014 is 55 billion dollars, but in last 10 years in modi govt, uts become 155+ billion dollars.
Very informative message
ഓം നമഃശിവായ 🙏 🙏 🙏 സൗദാമിനി ചിത്തിര തുലാക്കൂർ.വടക്കൻ പറവൂർ. This Vedio reveals the current economic situation in the World. Agree with Velicham Channel to find a solution to the problem
So many weapons, missiles etc traded, then how can be a financial crisis in the world?
The world does not have that much money, but somebody, dont know who, has given so much loan. Its like I have 100 rupees in my pocket, but I have given my friend a 1000 rupees loan, where the 900 came from ,I dont know.
Dear Palki.. Do your duty and Tell how much the loan on india has Incraesed since 2014. We should only be concerned with ourselves. Lesser the loan, lesser the concern
We are spending more than what we earn. We are burdening our future generations. We must bring down our spending.
In context, the leverage isnt even rhat high, its a cute 4x leverage, considering that bill hwang was 20x deep before he faced his end, i think we are good
So who is lending if everyone of us doesn't have money?