Debt owed by governments, businesses and households around the globe is up nearly 50% since before the financial crisis to $246.6 trillion at the beginning of March, according to the Institute of International Finance, an association of global financial firms. And the high debt levels are weighing heavily on economies
The consumer is holding up though!! How so:
For the month of July, consumer credit increased at a seasonally adjusted annual rate of 6.75%. Revolving credit, which are credit cards increased at an annual rate of 11.25% while non-revolving credit increased at an annual rate of 5.25%.
That’s over 11% increase in July from June in credit card debt….
Therefor: Rates must continue to fall, negative yielding debt continues to grow, which means the global economy continues to stall
The Unstoppable Surge in Negative
Yields Reaches $17 Trillion
August 30, 2019