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🚨 GLOBAL DEBT SKYROCKETS TO $315 TRILLION The world’s debt hit a jaw-dropping $315.1 trillion in early 2024, climbing $1.3 trillion in three months! Debt now equals 333% of global GDP. The U.S. and Japan led the borrowing frenzy in advanced economies, while China, India, and Mexico carried the torch for emerging markets. Since the pandemic, global debt has ballooned by $54.1 trillion, up 21%. Non-financial companies owe $94.1 trillion, governments $91.4 trillion, financial institutions $70.4 trillion, and households $59.1 trillion. In the U.S., debt servicing costs now outpace defense spending, and guess what, there’s no plan to fix it (Maybe DOGE will step up to the plate?). Meanwhile, emerging markets face rising risks with $105 trillion in debt and sluggish recovery from 2019. Source:visualcapitalist - Aug 2024