World debt at $250 trillion is 3x global GDP – an all-time record. If we included unfunded liabilities and derivatives, total debts and liabilities amount to over 25x global GDP.
There is no “savings glut” or fiscal space in the eurozone:
- Households Debt 93.5% of gross income vs average of 88.9% 1999- 2017 (56% of GDP).
- Corporate debt 96% of GDP, a 56% debt/equity ratio and weakening solvency ratios (Moody’s)
- Government spending 47% of GDP, debt/GDP 86%
There is no savings glut in Germany either, nor fiscal space. Only a “not as bad as other eurozone” countries’ situation.
- Households Debt 83.73% of gross income.55% of GDP
- Total private debt 147.60% of GDP
- Government spend 44.5% GDP, debt/GDP 60.9%