The worldwide mountain of debt has reached a record-high 300 trillion dollars, more than 300 % of the world’s annual economic output. What’s more, all dams have broken with the COVID-19 pandemic, the resulting state of emergency having legitimized uncontrolled debt expansion. And yet history teaches us that creditors have limited confidence in the ability of debtors to service their debts. At some point this confidence could erode and the massive global debt bubble might burst.
300 Trillion explores the significance of our debt situation, looking at the true stories behind our collective debts.