Global Public Debt to Exceed $100,000,000,000,000

Who holds all this debt?  What happens when people start getting late on payments?  What happens when citizens are in poor financial health and demand that the government take care of their needs?  The government is then forced to borrow more money by selling more debt.  What happens when the government can’t pay the interest on its own debt without borrowing more money to do it?  The whole Ponzi scheme starts to explode.

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 WASHINGTON, Oct 15 (Reuters) - The world's total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs, the International Monetary Fund said on Tuesday.

The IMF's latest Fiscal Monitor report showed global public debt will reach 93% of global gross domestic product by the end of 2024 and approach 100% by 2030. That would exceed its 99% peak during COVID-19. It would also be up 10 percentage points from 2019, before the pandemic exploded government spending.

https://www.reuters.com/business/finance/imf-says-global-public-debt-top-100-trillion-growth-may-accelerate-2024-10-15/