Bloomberg: Global Debt Exceeds $100 Trillion
Bloomberg reported that, according to the Bank for International Settlements, the amount of debt globally has soared more than 40% to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates.
Bloomberg said the $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg.
Bloomberg notes that borrowing has soared as central banks suppress benchmark interest rates to spur growth after the U.S. subprime mortgage market collapsed and Lehman Brothers Holdings’ bankruptcy sent the world into its worst financial crisis since the Great Depression.
To read the entire Bloomberg article, click here.