World is $152 Trillion in debt

February 2024 Forums General discussion World is $152 Trillion in debt

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  • #84973
    Ozymandias
    Participant

    I know capitalism could theoretically rumble on forever but surely this level of debt can't go on and on. Is the planet in debt to itself and if so whit's gonny happen? 

     

     

    https://www.theguardian.com/business/2016/oct/05/world-debt-has-hit-record-high-of-152tn-says-imf#img-1

    #122275
    Bijou Drains
    Participant

    According to the Irish comic Tommy Tiernan all we need to do is find out who it is we owe the money to "and shoot the fecker" 

    #122276
    Anonymous
    Inactive
    Tim Kilgallon wrote:
    According to the Irish comic Tommy Tiernan all we need to do is find out who it is we owe the money to "and shoot the fecker" 

    Or place all the capitalists on a rocket and sent them to another planet. If we were political informed about our real class interests instead of being tailgater of our own class enemy, we would stop paying these debts, and overthrow their stupid  system immediately. We can turn money into toiltets papers, or wall decoration,  and use gold and silver for  cooking pots

    #122277
    Ozymandias wrote:
    I know capitalism could theoretically rumble on forever but surely this level of debt can't go on and on. Is the planet in debt to itself and if so whit's gonny happen? https://www.theguardian.com/business/2016/oct/05/world-debt-has-hit-record-high-of-152tn-says-imf#img-1

    Well, it can go on: states and corporations are immortal, they can assume the debt and let growth and inflation degrade it before making any nominal repayments.  The Tories blew the gaff by making a song and dance about finally paying off the Napoleonic war bonds: debt can live for ever, ignore it.

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