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Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”

Michael Snyder
January 18th, 2019
The Economic Collapse
Comments (42)
Read by 1,828 people
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This article was originally published by Michael Snyder at The Economic Collapse

The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated. Every single day, the benefits of our labor are going to enrich somebody else. A portion of the taxes that are deducted from your paycheck is used to pay interest on government debt. A portion of the profits that your company makes probably goes to servicing some form of business debt. And most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts. But most people never stop to think about who is becoming exceedingly wealthy on the other end of these transactions. Needless to say, it isn’t the 46 percent of the global population that is living on less than $5.50 a day.

The world has never seen anything like this mountain of debt ever before, and one of the central themes of The Economic Collapse Blog is that all of this debt will ultimately destroy our society. According to the Institute of International Finance, the total amount of global debt is now  “more than three times the size of the global economy”

The world’s debt pile is hovering near a record at $244 trillion, which is more than three times the size of the global economy, according to an analysis by the Institute of International Finance.

The global debt-to-GDP ratio exceeded 318 percent in the third quarter of last year, despite a stronger pace of economic growth, according to a report by the Washington-based IIF released on Tuesday.

But it isn’t as if all of this spending has lifted billions of people out of poverty. In fact, 46 percent of the population of the world is “living on less than $5.50 a day” according to the World Bank

Over 1.9 billion people, or 26.2 percent of the world’s population, were living on less than $3.20 per day in 2015. Close to 46 percent of the world’s population was living on less than $5.50 a day.

Global inequality continues to grow worse with each passing year, and that is because the global financial system is literally designed to funnel as much wealth to the very top of the pyramid as possible.

Of course things could be very different. We don’t actually need to have a debt-based system which systematically makes the rich even richer.

One of the big secrets that nobody is supposed to talk about is the fact that governments don’t actually have to borrow money. For example, the U.S. government could start issuing debt-free “United States notes” tomorrow, and this actually happened for a very brief period of time under President John F. Kennedy in the 1960s just before he was assassinated. It is highly immoral for us to be borrowing trillions of dollars that we expect future generations to repay, and that is why I have been a huge proponent of shutting down the debt-based Federal Reserve system and ending the debt-based currency known as “Federal Reserve notes”.

But these days, only a small minority of the population seems to care.  We are literally debt slaves, and most Americans have seemingly embraced their enslavement. I really like what Devvy Kidd had to say about this in her latest article

The average American is a debt slave already at birth. And by the time he dies, his debt will have increased exponentially, thus passing on an even bigger debt and greater enslavement to the next generation.

This is a vicious circle that has gone on for just over 100 years. A very small elite has become incredibly wealthy and the masses have become enslaved by private and government debt.

For the majority of people, it will be impossible to extricate themselves from this massive debt stone around their neck. Instead they will add to the debt by taking on more debt.

Wake up!

At least the “yellow vests” in France are willing to take a stand against the systematic tyranny that is raging all around them. In America today, most people don’t really care about much of anything unless it somehow intrudes on the bubble of mindless entertainment that most Americans have constantly surrounded themselves with.

And guess who produces all of that mindless entertainment?

It is produced by giant media corporations that are owned by the same global elitists that control our giant mountain of debt.

The system of our enslavement is far more sophisticated than it was in previous eras of human history, but it is still deeply insidious.

There is one more thing that I would like to mention today. On many previous occasions, I have discussed how the elite have transformed Wall Street into the largest casino on the entire planet, and it is true that some people have made a lot of money in that casino.

But so many others have been deeply burned and have lost everything. Here is just one example

I had quit day-trading back in November but was still using a swing trading system that damn near never lost (really), until I got completely run over last week. Literally every move I made was wrong, and I managed to completely wipe out my entire gambling account. I want to be clear, we’re not broke or anything near it (still get to claim millionaire status), but holy crap did I decimate my account something stupid.

So, I’m here to tell you that the scary stories you hear from elders who quit trading? They’re true. Trading is a losing game. It’s just gambling.

Most people who claim to be winners just ignore their losses and pretend everything is ok. To be sure, some people really can make a living at it, and good for them. But the odds are massively against you. The system is designed to take your money while you’re stressed, guessing, nervous, angry, depressed, or most of all – desperate.

The game is literally rigged against us, and we need to realize what we are up against.

Tinkering around with the current system is not going to fix anything. We need to ditch this current system and start again from scratch, but it will probably take a horrific collapse before most people start to understand this.

***

Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

GetPreparedNow-MichaelSnyderBarbaraFixMichael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream

If you want to know what is coming and what you can do to prepare, read his latest book Get Prepared Now!: Why A Great Crisis Is Coming.

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Author: Michael Snyder
Views: Read by 1,828 people
Date: January 18th, 2019
Website: http://theeconomiccollapseblog.com/

Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

42 Comments...

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  1. RobinHood says:

    So what’s the big deal ?
    Just live it up and get yourself in debt like everybody else. You might as well. Does anybody really care if you die heavily in debt ? You only live once, you might as well enjoy all that it offers while you can.
    I pay the minimum balances every month, and just keep rolling along.
    So Enjoy !

  2. TharSheBlows says:

    Hello Fellow Preppers… Amongst the Global chaos, never forget these basic skills which are priceless for your survival.

    Friction Fire 4 Ways… Fire Roll, Hand Drill, Bow Drill, and Bamboo Fire Saw…

  3. Anonymous says:

    This is the nature of life, and an expression of human nature.

    Nothing can be done about it.

  4. But if everybody owes money to everybody, then nobody owes money to anybody. Example: I owe you $100…and you owe me $98. Then the total debt is $198. (like the $244 trillion global debt). But in reality, I owe you $2, and you owe me nothing. So the total debt is really $2. In other words, we could wipe out the total debt to each other if I paid you $2.
    This is all smoke and mirrors, designed to scare you in to thinking there will be some sort of global financial collapse. There won’t be. The ledger will just be re-set.
    However, I agree that the money is flowing to the top, and wiping out the middle class. This must stop; and I believe it will one day after a real revolution gains momentum…and the system is changed.

    • Voice of reason says:

      Wrong; the differce is the global elite behind all of the central banks of the world owe nothing, all the while they’re owed all of the interest and face value of all the $ borrowed by all governments all over the world, which by the way they don’t actually lend out or risk to begin with, they simply print / create electronically out of thin air – hence inflation and exponentially growing global debt.

      No smoke and mirrors the way you describe bc they aren’t borrowing from anyone.

  5. reper sleepr says:

    TSB, have seen that vid and yes folks need to know more than ONE way to start a fire for warmth or cooking. In an emergency where you might be cold and wet then the Bic lighter is the fastest method. You should however keep those Bics for that time only. I prefer the chert and steel with either charred punk wood or char cloth. Of course there’s friction fire and the Ferro rod too with cotton soaked Vaseline.

    • reper sleepr says:

      Also, starting wet wood can be daunting. Don’t pick up rain soaked wood from off the ground as you’re playing with your ass trying to get it started. Find some trees with some low branches and cut them off. The wood will be dry on the underneath part. Use your knife to cut off/skin the upper wet part.

  6. Infidel says:

    At least the “yellow vests” in France are willing to take a stand against the systematic tyranny…

    How, by putting on their tyrannical government required yellow vests? Protest against tyranny by complying with tyranny? Those yellow vested pussies are the laughing stock of France.

  7. Stuart Varney said on Fox And Friends the booming economy will last through the end of the year. There are however two hidden bubbles Debt, and derivatives. Plan accordingly. America’s money is created by the Federal Reserve and backed by the government indebting the people. I have done a study on the Federal Reserve, scroll down to Federal Reserve Note
    Edirorial comment

    • Genius says:

      Git some of these little babies lol.

      ht tps://www.ebay.com/itm/Lot-of-30-1g-999-Fine-Silver-Round-Bar-Bullion-mini-coin-oz-RE326/232111943596?hash=item360af32fac:g:d3gAAOSwqd1ZwImK:rk:10:pf:0

  8. reper sleepr says:

    Now’s the time to be adding to the silver pile. As the water gets more muddy between the have and have-nots, congress critters and Trump, the Muller investigation, the wall war, more wetbacks coming up from Honduras, and the shutdown, things don’t seem to get any better. I’m sure others on here could add to the list.

    • reper sleepr says:

      BTW in regards to Trump squashing Pelosi’s plane trip and the way that trump waited up until the last minute to cancel it, reminds me of the Charlie Brown/Peanuts gang when Lucy would hold the football for Charlie to kick and then snatch it back and leave Charlie Brown square on his back every time. I wish somebody could transpose Trumps face on Lucy’s body and Pelosi’s face on Charlie Brown’s body and run it on face book or the news.

  9. Bond Servant Ron says:

    I have a great idea for all the drunken bum dumbed down soda sucking GMO gobbling toxic dump AMERICAN COWARD PUSSIES…..Why don’t the AMERICAN COWARD PUSSIES just turn everyday into a drunken bum holiday for the AMERICAN COWARD PUSSIES…You could have a ISIS Defeated Holiday of LIES, you could have a National Debt and being in Debt is GREAT Day of LIES, You could have a GMO’s ARE GREAT holiday of LIES…..THINK ABOUT IT DRUNKEN BUM DUMBED DOWN COWARD PUSSY AMERICANS..Why not, you are already the most vile evil disgusting drunken bum population of COWARDS the world has ever known or witnessed!!!!

  10. Jim in Va. says:

    Ron…..whatever…….

    • Bond Servant Ron says:

      Jim, since none of those soon to be drunken bum Holidays for the drunken dumbed down Satan Pedophile PSYCHOPATH loving AMERICAN COWARD PUSSIES did not appeal to you, this one might:

      “THE 5G UP YOUR ASS AND RFID CHIPPING IS GREAT HOLIDAY”

      This Satanist PSYCHOPATH Pedophile GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT Holiday coming from Orange Satan Lolita Island Pedophile PSYCHOPATH Billionaire THIEF criminal treasonous murderous genocidal DONALD J TRUMP, and the criminal treasonous United States CORPORATION Government from the bowels of hell in Washington DC will be coming for you Jim, and of course all the dumbed down drunken bum AMERICAN COWARD PUSSIES, who whored their children out long ago to these PSYCHOPATHS for a six pack, sex with something nasty, and a bread and circuses football ticket……The COWARDS will ALL take part in this MANDATORY HOLIDAY COMING FOR THE AMERICAN COWARD PUSSIES!!!!!!

  11. War is what creates the biggest financial gain to the so called “elite” while putting the masses under more debt and higher taxes.

    Refuse to fight meaningless battles for reasons that have nothing to do with you or your family except you sacrifice them.

    .

  12. aljamo says:

    The American people are completely out of the loop when it comes to organized opposition to their planned demise. Not surprising that the war-police state advances with increasing rapidity. Millions of citizens could find time to protest the Fed and the failing direction of their livelihoods. The evil plans are advancing so why not now? At this rate the population is broken into many factions that basically hate each other, all playing into the controller plans. The American people are smarter than to allow this foul direction to continue.

    • Mensa Graham says:

      Seeing some of the abject fools that some people have elected I think you are so wrong about the people being smarter than to be allowed to be brain washed.

      Who is stupid enough to elect Maxine Waters over and over again or for that matter the bugged eyed Adam Sch!tt? You can keep naming them. How did a someone without enough sense to know what sex they are get elected in Arizona over a AF Warthog pilot? Ponder that stupidity for a while.

  13. Mensa Graham says:

    Live nicely and debt free as we are supposed to as preppers. Quit being jealous of those who make more as I have found that they are driven and never seem to be satisfied.

  14. Maranatha says:

    When we had decent paying middle class jobs in 1990, in which $35,000-45,000 was standard, then we all just traded dollars and this resulted in prosperity in America.

    2.5 million industrial jobs helped 250 miliion Americans. That’s all we need.

    But today someone who makes $45,000 really is only worth HALF due to inflation, so that’s $22.500 and that is what CRUSHED American prosperity as now two people earn together is half as much as a single guy in 1990.

    When things are that TIGHT then people delay trading dollars and everybody suffers.

    1990 Your child is a budding artist and wants some watercolor paints. No problemo. You buy it.

    2019 Now money is tight so you wait until her birthday.

    1990 You see there is sale on whole ribeyes so you go down to the grocery and buy them. Then cut four steaks for Sunday dinner and butcher and freeze the rest.

    2019 You rarely buy steak and maybe eat them at holiday time.

    • Maranatha says:

      The Elite killed the golden goose which was the ordinary hard workin’ blue collar factory worker.

      They moved the jobs to China. Prices fell on some goods. Stocks soared because low labor costs meant better dividends. Investors were happy.

      But then, your neighbor lost his industrial job. You didn’t care because, “Hey I don’t work in a factory.”

      Well then there were less dollars being spent on consumer items. This trickled down to every specialty shop and business.

      People worked hard and so in compensation, they bought more stuff and that employed more people.

  15. who knows who cares says:

    ????? OK so who is buying all those 75K trucks?, what about all those 1K or more cellphones? Or how about those billions a month drugs being “imported”?? who the hell do the dealers sell all that too??, what about those million dollar condos, they seem to be selling too when half the people are living on 30K a year, or less, have no way to pay a 400 emergency bill, Have all this student debt, ect ect ect………. BS…..

  16. Maranatha says:

    Now the dumbass leftists want to raise taxes so high that even more dollars are wasted by the government. Heck, we need those dollars being SPENT by American consumers! Not more government spending as that is INFLATIONARY!

    How stupid can leftists get!

    We want rich people to buy homes and swimming pools as that means construction jobs. Those dollars mean more home mortages so that helps banking employees. These people buy tires and eat better food. That means more employees.

    Why is that simple principle so difficult for leftists to understand?

    RICH PEOPLE DO EVERYTHING THEY CAN TO PAY LESS TAXES! These are the employers so when you raise taxes, they cut workers. The move jobs to other countries.

    Argh.

  17. Big M says:

    Think about this, OK?.

    The media constantly yap about a “national debt,” saying, for example, “it adds up (or averages out) to (say) $70,000 for every man, woman and child in America.” (I’m just using some figures here.)

    Well, everybody thinks that means what “every . . . ” owes to the feds. Actually, that’s what the feds and their crooked bankster buddies owe to “every . . . “. Yep, that’s right: that’s what THEY owe US!! (No details, or I’d be writing a novel. Feel free to insert your favorite “conspiracy kook” response. Or, do some research.)

    If the people of this country knew just 10% of the ways that these gangsters in DC and the state capitols are robbing them blind, we wouldn’t need to hold elections, because politicians would be as hard to find as dodos. Why? Three guesses, and the first two don’t count.

  18. Bert says:

    Today was my shopping day.

    Nearly all of the adults I seen today were pieces of shit.

    75% are overweight. 60% are obese. 50% are morbidly obese.

    Can’t they see? Are they fucking stupid?

    • Genius says:

      Oh man are they stupid. Stop and sit in the middle of the isle. So fuckin fat you can’t get around them. Don’t keep their stupid offspring under control. go out the in door and in the out door. Roll their carts down the middle of the driveway instead of off to the side. Use cards to pay for shit and have issues and hold up the line forever. Then these same asswipe morons are in front of you and all around you on the road home. I fookin hate shopping!

  19. Maranatha says:

    OAkVDCqVY6w
    Gillette’s ad to American MEN in 1980
    versus

    6mHJFua-v00
    Gillette’s ad to soyboys.

    It’s pathetic how far the American shining example of a moral Constitutional Republic, a land of liberty and free enterprise and private property, has been taken over by plundering Democrat scum who actually Socialists and Marxists idealogues.

  20. Maranatha says:

    ht tps://www.zerohedge.com/news/2019-01-19/extremely-disturbing-footage-deadly-mexico-pipeline-explosion-surfaces

    On top of an already volatile situation with caravans getting backed up in Mexico, I mentioned a week ago that fuel trucks were being stolen and there were major back ups at the gas stations.

    Now an illegal tap of a pipeline burst into flame and caused tremendous damage.

    All of that adds more misery and inspires more people to flee to the USA because in a worse case scenario, if caught, they get a slap on the wrist, a court date where 90% fail to show up, and then live on the edge in America and have anchor babies.

  21. We need a military coup….with

  22. We need a military coup….with Trump at the helm. Temporarily suspend the Constitution. Declare martial law. Arrest the leadership of the democratic party and try them for sedition & treason. Put the military on the border. Send hit squads out to “eliminate” the gangbanger drug dealers (MI-13 comes to mind). Eliminate the fed and issue treasury notes. Indict all the scumbag criminal banksters that should have went to jail after the great recession. The rest of the scum (ACLU, NLG, LaRaza, etc..) will all fall in-line. After the great “purging”, restore the Constitution & MAGA.

  23. Maranatha says:

    ht tps://petitions.whitehouse.gov/petition/impeachment-congress-persons-nancy-pelosi-and-chuck-schumer

    It’s tempting. Right now there is White House petition to impeach Pelosi and Schumer on the grounds of treason.

    It’s normal conservatives very santanic scum leftists.

    You should know the Republicans tried to find emergency money to fund the US Coast Guard but instead the Luciferian Demoncrats blocked it to protect illegal aliens!

    In a worse scenario the country would be torn in some states as badly as Kansas in 1861 with Jayhawkers Yankees versus Confederate bushwhackers.

    Thankfully most of Western Kentucky would be quiet.

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