Is a global debt crisis looming? | Counting the Cost

Global debt has hit a record $307 trillion in 2023.
That includes the amount of money owed by corporations, governments and individuals around the world. And it's equivalent to almost $40,000 for every single person on the planet.
Multiple crises in recent years have worsened the problem - pushing countries to the brink. And that simply means some of the poorest countries in the world are servicing their debts, instead of providing for their people.
So, who's to blame for the delay in debt relief efforts?
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[@UnderhillKoufax]

“We can either have democracy or great wealth concentrated in the hands of a few, but we cannot have both.” - US Supreme Court Justice Louis Brandeis

[@valt3692]

We see The “hidden agenda” which belongs to the US and their Israeli stooges....US dominance, control and Economic stability is nonexistent.....The upcoming war, the one being provoked by the US...is meant to do one thing and one thing only....Stop the De-Dollarisation and New World Order formed under BRICS... Cos in that reality, the US becomes the poor nation, with no skills or resources to offer the world, no seat at the table nor an invite....A world where sanctions can be imposed on the US and the only thing their arrogance buys, is a kick in the nuts 😮 Now that’s a world worth looking forward to✌🏽

[@Dieselpwr]

Sure we can just need to do away with globalization and concentrate on the USA and not everyone else

[@alfonstabz9741]

really??? how about in china and venezuela who do you think hold the wealth in those socialist country? the hypocrisy.

[@julioduan7130]

US kept interest rate high waiting for more countries to default.

[@headgirlblues]

Our financial systems are insane.

[@headgirlblues]

"liberate the private sector" I'd laugh if it the results weren't so horrible.

[@marybailey7881]

Haven't most stocks been in a giant bubble since the beginning of 2020? If you look at the charts of individual stocks, don't almost all of them look as if they are on the verge of collapsing in January 2024? Why do people keep investing more money in these?

[@piotrwojdelko1150]

USA has the highest debts.China is too gready..

[@MsDarylM]

Who owns all this debt?

[@RedzicMuharem]

if you mention African poverty without mentioning France, you're suspicious to me

[@ambessaseway5594]

US Debt is the worst 34 Trillion growing by 3 Trillion every year

[@headgirlblues]

@@ambessaseway5594 Someone's got to keep those poor armourers fed

[@alexisf22]

I agree 100% France and Europe are to blame for many of the problems in Africa

[@buravan1512]

how about US, That manipulates our currencies, through their investment Banks? they all play together as a TEAM.

[@buravan1512]

YOU COULD AT LEAST HAVE SAID LIKE 100 TRILLION.@@ambessaseway5594

[@spindlecitysister]

Liberate the private sector!? WTF

[@bhavtosh5328]

The main reason of this debt even before pandemic was and is low interest rates regime which enable more people to borrow and then default. Interest rates should be in middle neither high nor low.

[@zwatwashdc]

African leaders are fully invested in the idea that politics should make them grossly rich. I wonder where they got that idea.

[@edocms]

Communist China

[@nadmoi]

That's not exclusive to African leaders.

[@zwatwashdc]

@@nadmoi Definitely not.

[@ENTERTAINER4you]

Because the current monetary system does NOT serve humanity.

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊

[@menudobucket9837]

Liberate the private sector from what? The debt owed by the United States due to deficit spending is the result of a tax structure that favors the wealthy and wasteful spending that went to the purchase of munitions and military hardware. The U.S. government spends more on the military than the rest of the world combined, none of which can be called productive. Meanwhile, the American infrastructure is in such bad repair that it’s becoming dangerous and citizens are dying in some cases. The Flint water crisis is ten years old and remains unresolved. Jackson, Mississippi has experienced water shortages and not because it wasn’t available. The roads and bridges in some areas are pitted with potholes and mountains of rust, but rather than spend the money to repair them, they’re used as political bargaining chips for politicians to create a facade that makes them appear to be working on behalf of their constituents, when in reality they’re filling their own pockets and keeping their benefactors happy. Living on the interest paid on loans, Capitalism has dug itself into its own grave, but not without taking everyone along for the ride. We have the tools to fix the problem, but capitalism and the exploitation that drives it stand in the way. It’s true that the more affluent governments need to lead the way out of this debt debacle, but they won’t. It’d mean having to share the wealth and the wealthy are too greedy for THAT! Once you’ve got it, the thought of being without it again is so frightening that there isn’t enough courage to let go of a single dime.

[@Cubalibreparaelegir]

The current state of affairs is not a result of Capitalism, on the contrary; the current debt issues, malinvestment, inflation, lack of capital investment in infrastructure ect is the result of more government interventionism with the private sector, is a result of more government inflationism policies, is a result of governments using their central banks to keep interest rates low for over a decade, promoting a credit expansion that sooner or later will end up with an economic crisis. It's precisely moving away from Capitalism and the fundamentals of it that has place many countries no matter rich or poor on such difficult positions. If the tools to fix the problems that you subject is more interventionism, more inflationism and more government, in other words socialism; the current state of affairs are nothing compare with the disastrous outcome of abandoning Capitalism and trying once more a failure economic, social and political ideology such as that of socialism.

[@menudobucket9837]

@@Cubalibreparaelegir~ Man oh man have they got you buffaloed!

[@cantablocal6768]

​@@Cubalibreparaelegirwe have the best government that the private sector can buy and you think having more corporate influence on the government will make it better? People and their greed is what causes the problems and while socialism has the same problem of trying to make a fair system in an unfair world neither system can provide the stability we need for a sustainable future.

[@Cubalibreparaelegir]

@@cantablocal6768 where on my comment do you read that I suggest more corporate influence on the government? how do you come to that conclusion? It's precisely because governments intervienes, regulates and expands its bureaucracy that large corporations are able to not only influence it but in actuality used to their advantage. This is not a crisis of Capitalism; this is a crisis of Interventionism. The ever-increasing Government control of the economy by means of regulations, controls, interventions, confiscations through taxation and worst of all deficit-spending financed by money printing are the root cause of all the issues at present. The further society moves from Capitalism and its core principles (Private Property, Free Market & Sovereignty of the Consumers in the Economy); the more trouble society faces; the interventionist and government bureaucrats will argue that things are not improving because there is not enough government involvement; and that's what they will sale to the general public whose conditions are worsening year after year and intervention after intervention; the end result if society doesn't recognize soon that the problems are effects of government interfering, the end result will be Socialism.

[@user-nj7cr5jd6d]

Chinese debts over the nations is useful and infra structure building while western money goes in security spending..wars etc.

[@teresawilcox8737]

AGREE with Shirley Ze Vu so much common sense.

[@sahas397]

Sounds more of a china sympathizer. China lends at 8% compared to the world bank at 2% .

[@jorgeabraham3414]

The best part IMO. You gotta see the guy face when she said well China just owns 20% of that debt

[@sahas397]

@@jorgeabraham3414 20% @ 8% is loan shark. IMF Lends at 2% which is 80% below market rate. Poor countries need help nor loan sharks. When china loans, the labor, equipment and technology are all Chinese, there is no economic development due to investment time in the borrowings country.

[@keirenle]

Cut spending? Well, let's move on to the second option.

[@LordPrinceIV]

I personally shall never be effected by it. But the short answer is "Yes".

[@shamsulbahri81]

I personally believe 2 reason for financial trouble around the world. One our insane of financial problem and two our incompetent politicians. No matter in the east or west. Money buy influence so the leader spend in order to buy influence. Be it in democracy world or the non-democacy world.

[@marybailey7881]

Haven't most stocks been in a giant bubble since the beginning of 2020? If you look at the charts of individual stocks, don't almost all of them look as if they are on the verge of collapsing in January 2024? Why do people keep investing more money in these?

[@add2685]

if debt crisis trigger social unrest (e.g Arab Spring), developed Western nations (e.g US) are equally (or worse) in debt status. One of the driver keeping the lid on US is capital flow (via captial/trade export) that keeps UST yields from going higher. Any analysis on this front?

[@karlstrel]

Greg Swenswon is right when He says that private companies should be reigned in by Governments. but there has to excessive spending on Green Tech firms because they will benefit not just The Environment which is precious to us not so smart human beings, and to the economy as well because it will help drive prices down in some area's.

[@Lamin_G]

It's funny because I thought Greg Swenson was *_complaining_* about governments *excessively* reigning in the private sector, calling it _"hostility"_ toward businesses. 😄 His spill was that the government should "liberate" the private sector by reducing the burden of taxes and, hence, create an environment for private companies to _increase_ their productivity and _"raise"_ their "tax receipts" from the profits.

[@mukithebar6488]

Gold should be over $40 000 per ounce... USA manipulating paper gold contracts price

[@maxwolf8055]

All 6 biggest USA 🇺🇸 bank short selling gold futures for last 20 years... No one have trillions as they have ... It is clear manipulation

[@shadman1024]

Al Jazeera, always creative, the most creative.

[@buravan1512]

The problem is... they follow the western narrative. for example the guest is knowledgeable, but he is lying...

[@genenovak2717]

I don’t know about a global debt crisis, but we certainly have one here in United States of America where we owe something like $5 trillion. We have no possible conceivable way of paying that back other than printing more money and creating money from nothing.

[@maxwolf8055]

👉💥Boycott the American dollar first

[@user-hp6ls8qy6d]

And China?

[@chrislim1950]

Buckle up!! It’s a bumpy 2024!!!

[@vonniemichelle3670]

All those things he rattled off that caused this mess could be summed up in one word: politicians

[@jeremyprovence4942]

Can anyone say colonialism? When there is enough for everyone and the very rich claim it as their own. Tax the rich.

[@user-hp6ls8qy6d]

These countries have been independent for decades. They just have clueless leaders.

[@marcielynn4886]

Zero debt here. Life off the grid in my paid for home in Hawaii.

[@RWROW]

Restructuring debt = not paying back what you borrowed including the interest. The only new thing is the developed countries are getting close to want "debt restructuring" along with poorer countries.

[@MultiMrrog]

no, not really, the thing about debt is when it reach's this scale it's everybody's problem, and as we know, while capitalism has been great for the welfare of virtually all of us, it is, basically, a con trick

[@sumitomoO0O]

Democracy (and the dumbness of the average voter) is the main reason for so much debt...all politicians borrow and spend to win the next election so debt keeps growing...no politician would voluntarily cut spending

[@scottblanche6657]

The rich can buy the polititians here in the USA which has led to the rich paying a quarter of what they paid in the good old days before Reagan or they pay nothing at all.They are bankrupting the US

[@noneofyourbusiness5433]

Democracy is great and works in principle. The problems is that people are retarded. We should have limited democracy.........you need to earn the right to vote.

[@sheldonpopesp]

yup these countries live beyond their means buying white elephants for 'Legacy' then they run away leaving the country in these sorry states.

[@micy9714]

Double everything

[@stiofancaomhanach9117]

The debt has to be cancelled! Leviticus 25:10 "for you let it be a Jubilee"!

[@bryanotieno7106]

Corruption is quite prevalent in Africa and impedes on the development growth of the continent as a whole

[@buravan1512]

compared to other Continents, AFRICA is not as bad as they make it sound. cause, whatever we call the Economy is false, no substance what so ever.

[@sliekerstar]

Kind of a dumb question when the obvious answer is yes

[@violin546]

Wait...de he just say the solution to the problem caused by supply-side economics and neoliberal privatization is..........MORE austerity and MORE privatization? Why am I not surprised. Zero pushback from the host. You can do better than that, Al Jazeera. Disappointing interview.

[@xWarLegendx]

Wht do u think is the solution?

[@violin546]

@@xWarLegendx To undo privatization...by reversing it : Convert corporations into workers' coops. If a corporate charter can be revoked, its assets can also be seized, in the public interest. Rinse & repeat, ad infinitum. Thanks for asking.

[@xWarLegendx]

@@violin546 socialism

[@vib_di]

Nothing is looming. The more it changes the more it's the same. Everyone watching these videos (Confirmation Bias) is waiting for a stock market crash and waiting to buy shares, so that they will become rich easily. This is the BTFD generation.

[@maxwolf8055]

😂 No one wants to play USA casino called NYSE ... You will lose all your money very soon

[@vib_di]

@@maxwolf8055that's called Gambling

[@daraghokane4236]

I hope this debt crash weakens the US dollar and Brics somehow comes out okay as there aren't using that

[@rimacalid6557]

The US dollar has been crashing since Biden made his measures... It's just that people are preoccupied every time with something

[@marybailey7881]

Haven't most stocks been in a giant bubble since the beginning of 2020? If you look at the charts of individual stocks, don't almost all of them look as if they are on the verge of collapsing in January 2024? Why do people keep investing more money in these?

[@maxwolf8055]

​@@marybailey78811 ... The meltdown of 2022 has wiped out more than $7 trillion in market value from the blue chip stocks in the S&P 500. 2....21 Nov 2023 - Some $6 trillion in market capitalization has been added to the U.S. equity benchmark in 2023 in a rally fueled by the artificial ... THE SAME CORPORATIONS PLAYING GAMES WITH YOU . People don't play on stock markets anymore ... There very little money from individuals. None one single person around me buying stocks , even they all very rich people

[@tradewithmrben]

Who are we owing ?

[@gideongiggie5017]

The loans china give us we see where they go like hospitals infrastructure etc but the largest debt african carry is from the west and we have not seen anything in the stomach of politicians they appoint for us

[@sahas397]

Sounds more of a china sympathizer. China lends at 8% compared to the world bank at 2% .

[@edwinnote655]

Well, there is no difference between china and the west. At least china build that they can not take home. The road, bridge, railways & ports will stay.

[@maxwolf8055]

The USA 🇺🇸, due to the dominance of its dollar, forces the entire population of the planet to pay them interest - all prices for raw materials are denominated in dollars. The whole world became slaves of the USA

[@user-hp6ls8qy6d]

Yes, while getting countries into debt they'll never be able to pay off.

[@speedwagon7562]

What does “liberate private sector “, mean…?

[@user-hp6ls8qy6d]

Probably means even less regulation and more trouble down the line.

[@intheshadow1200]

Everything in this world , was running pretty cool.... but since the Covid pandemic😮 the whole world have been in trouble like never before😔...worst is coming!

[@farfalcon1616]

Anyone knows who is making the profits? Real dollars and cent..

[@monicasanchezorozco1361]

I dont know what is worse, to hack a bank or managing it .

[@pavelsmith2267]

My interactive economy could simply create more output than any global debt crisis which could currently come into being. Tristate Agenda for the half century mark! Or we could begin tomorrow at get it started by Thanksgiving Day 2025. Something, a ground breaking Feast!

[@Voxabonable]

Sleeziness at its best

[@gideongiggie5017]

Love the chinese guest lol. Atleast someone is promoting there owns countrys agenda nkt.

[@sahas397]

Sounds more of a china sympathizer. China lends at 8% compared to the world bank at 2% .

[@Chandankumar-qw6hb]

300 Trillion us doller global debt

[@buravan1512]

the real amount might be as twice as big.

[@Chandankumar-qw6hb]

@@buravan1512 only 5 Trillion printed money all over world

[@buravan1512]

*for this GUY everything is about of SUB SAHARAN AFRICA...😂* how many times did he mention that !! ?? !! AFRICAN COUNTRIES have a very small DEBT.

[@sandponics]

Being a rich baby boomer, I am the one they all owe their debt to.

[@w1113zuch]

Короче понятно! 😂

[@gregwillett2710]

This dude does not live in the real world and has no actual grasp on the gravity of the genuine situation. He does not have an understanding what's actually going on. I made it through two minutes of this video. F this

[@vib_di]

Can you elaborate what you understood?

[@gregwillett2710]

@@vib_di Sure. During the worst of the Great Depression (1931) Houses were 3x the average salary - today its 8x the average salary. In 1931 a car took 46% of your annual salary - today it takes 85%. Rent back then only took 16% of the annual salary. Now it takes 42%. You have to understand that the social contract of "civilized" society in America (for most people at this point) has been ripped into pieces. People don't feel like their merits or work ethic can get them ahead anymore. They are Labor Exploited and BURNED OUT. An entier Middle Class has been obliterated with the Working Class even worse off. Entire Generations who will never own a home no matter how hard they work. There is no sense of a meaningful future. No sense of community. Just individuals trained and hard wired to see eachother as economic competition before seeing eachother as memebers of a community instead. I swear!!! Behind every "Family Annihilator" case - behind every murder - behind every gang crime - behind most major tragedies - behind TWELVE mass shootings A WEEK - IS AN ECONOMIC DISASTER - a bankruptcy, a bought of homelessness, a contentious Eviction, an uninsured health crisis, and a family falling apart. And when you combine that economic burnout with 6,000 mental health shortage areas across the U.S - and a GUN FIRST culture - THIS IS WHAT COMES OUT THE OTHER END. A world with "mental health phone apps" instead of General Welfare. Tragedy. What we've done is take the phrase people yell when the plane is going down: "EVERY MAN FOR THEMSELVES!" and we made an entire economic system out of it. And then we rigged that economy against the average person. We essentially created a civic culture of individualism and societal abandonment where less and less people are able to make good decisions more frequently than terrible ones. Whether it's turning on one's own family for an insurance payout, an angry white boy wearwolfing back on society with an AR-15, getting caught up in gang life due to gentrification, or simply engaging in criminal enterprise because it's the only way to avoid choosing between food, gas, and healthcare. Most crimes, mass killings, and seemingly "senseless" tragedies are actually just End Stage Capitalism. If we, instead, build an equitable community that restores the social contract again, creates actual mental health services, affordable healthcare, fair wages, and rational regulations on guns - then you create a civic environment with ALOT LESS Tragedy. One in which more people have more of a chance to make better decisions more frequently than bad ones. Give people a chance - and most will meet their potential instead of a tragic end. Otheriwse a BAD system will beat out a GOOD person. Every. Single. Time. It all comes down to how we treated eachother. It's not enough that people understand how Capitalism is broken. Whats most important is showing people why Capitalism ISN'T BROKEN at all! That it is (instead) working exactly as intended by those who implemented it. That this is less about a broken system, and more about powerful people knowingly using those broken shards (like economic pain, strategic unemployment, and Austerity) to exert control, to punish, to murder civic culture, to destroy social connection, and to force compliance in SELF-abuse. That this is a system run by real actual SADISTS who genuinely beleive the impositions of mass-suffering, mass-pain, and targeted economic Armageddon are 100% necessary components of any society. It's not important that Capitalism is broken. It's important that it is intentionally broken with a certain malice of forethought and careful consideration behind it. Its POVERTY that is the ultimate crime. "One who is in poverty I look on not as a criminal in themselves so much as a victim of a crime for which other are responsible. If one chooses to be poor they commit no crime in being poor. It's certainly a crime to force poverty on others. And it seems to me clear that the great majority of those who suffer poverty are poor not from their own particular faults, but because of conditions imposed on them by Society at large. Therefore, I hold that Poverty is a Crime. Not an individual crime. But a Social crime; a crime for which we all are responsible. There is no natural reason why we should not all be rich - not in the sense of having more than eachother - but in the sense of ALL having enough to completely satisfy all physcial needs. Of ALL having enough to get such an easy living that we could develope the better part of humanity - the better part of ourselves. There is enough, and to spare! The trouble is that in this mad struggle we trample in the mire what has been provided in sufficiency for us ALL. Trample it in the mire while we tear and rend eachother!" - Henry George ♥️ You see? Henry George wrote about the solution to all this over 100 years ago!!!!

[@gregwillett2710]

@vib_di you have to understand that there is a corporate lense on media like this - ESPECIALLY about the Economy. The "statistics" and "metrics" they say they use to judge a healthy economy aren't even accurate - or even real - in any way. The unemployment rate is a great example. You should look up how the mainstream culture and academia today - calculate that figure. It's total nonesense. They don't even count people who have given up looking for work. It's compltely obtuse. You have to understand that the Ruling class has an economic narrative and lense they want to maintain. But it's mostly nonsense

[@DrunkenXiGinPing]

No !

[@maxwolf8055]

Yes

[@DrunkenXiGinPing]

No idea what that black guy was saying …..