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Total Debt Worldwide Hits US$240 Trillion, And The Bank Of Canada Is Worried

She said the combined global debt owed by governments, businesses and households now amounts to US$240 trillion, which is US$100 trillion higher than just before the financial crisis and more than three times the world’s gross domestic product.
Government debt, she added, has “skyrocketed” over the past 10 years, while corporate borrowing has “exploded” and now displays some risky qualities.
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2008 was the financial crisis and now US$100 trillion higher is the debt! 3X the worlds GDP debt now stands at.
My recommendation is to get out of debt and stay out of debt.
I don’t even have a credit card anymore, I use a VISA debit card issued from my bank instead.
I’m glad I moved out of the large city to buy property in smaller towns.  The house I currently live in is just classified as a city.


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