Libor Hits Decade High, A Worldwide Debt Default Is A Real Possibility

Sharing is Caring!

A Worldwide Debt Default Is A Real Possibility

Is debt good or bad? The answer is “Yes.”

Debt is future spending pulled forward in time. It lets you buy something now for which you otherwise don’t have cash yet.

Whether it’s wise or not depends on what you buy. Debt to educate yourself so you can get a better job may be a good idea. Borrowing money to finance your vacation? Probably not.

The problem is that many people, businesses, and governments borrow because they can. It’s been possible in the last decade only because central banks made it so cheap.

It was rational in that respect. But it is growing less so as the central banks start to tighten.

S&P says Gulf countries need to raise $300 billion by 2021

euronews5 hours ago
Saudi Arabia has become the region’s most prominent issuer of international debt, having borrowed $52 billion through a combination of conventional and …

Up to $1 billion in pension buyouts to be offered next year

Illinois News Network17 hours ago
Lawmakers included a $1 billion pension buyout plan in the state’s budget, which was … TRS has about $73 billion of the state’s $130 billion unfunded liability.

Nearly 80 percent of Alton property tax levy consumed by pensions

Madison County Record18 hours ago
That dynamic isn’t unique to Alton or southwestern Illinois’ communities, where growing pension costs have inflated residents’ property tax bills and left local …

READ  Worldwide raids target organised crime
READ  Worldwide raids target organised crime

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.