A new report from the Institute of International Finance (IIF) out on Wednesday has total global debt over $270 trillion at all levels of society and rising quickly!
Global debt to hit record $277 trillion by year end on pandemic spending splurge: IIF https://www.reuters.com/article/us-gl...
A debt problem cannot be solved with many trillions more in more debt! Piling many trillions more in new debt to help roll over old or existing debt while total debt grows seems to be the definition of a debt Ponzi scheme!
Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason's work at his blog website at www.jasonburack.com.