Global debt is still rising, is there a chance the world will pay it off?

debt, week 22

World debt is currently $ 300 trillion. You will not find a single country in the world that is not in debt. However, the irony is that the world owes it to itself and the it’s not disappearing, but increasing. Let’s take a look at why global debt is important.

Why it matters

The entire global economy is centered around debt. So basically the whole monetary system is based on it as well. The growth of the money supply is associated with the growth of it, and basically every banknote you use is part of it as well. Paying money back usually results in a financial crisis and the debt is reduced but does not disappear. We are experiencing recessions much more often due to this.

What you can hear

Some people have heard that the coronavirus pandemic has introduced a global currency reset. On the other hand you can hear, that it is camouflage so that no one knows about such a reset. Unfortunately, no argument makes sense, because the debt does not disappear and continues to grow. Once the pandemic is over and life somehow will start returning to normal, we as a humanity will face a major problem.

What it could mean

In the future, this could mean more recessions and financial crises than before. Western society is already used to having the maximum and many individuals have debts as well. The debt is already so big that the world will probably never pay it off. Unless an effective solution is found, recovery from a pandemic will be very slow, almost impossible.

What you can do

In these difficult times, it is necessary to be able to manage money well and protect it. One option is to invest. Investments could be a little bit tricky if you are not sure what to do. If you are interested you can check our Platon Trading Academy or try investing with our Platon Coin (PLTC).

Source: medium.com

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