Question asked on Musing.io by maam.sammy

`author`	maam.sammy
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voter	weight	wgt%	rshares	pct	time
nealmcspadden	0 B		85,627,553,256	100%

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👍 zayedsakib, sadman88

properties (23)

`author`	sadman88
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`json_metadata`	"{"app":"Musing","appTags":["money","currency","economics","education"],"appCategory":"money","appTitle":"How did the world got its debt or what so called the global debt?","appBody":"<p>Global debt hit an all-time high of $233 trillion (£169 trillion) in the third quarter of 2017, according to the Institute of International Finance (IIF).</p><p>That’s a $16 trillion increase on debt levels at the end of 2016 and more than three times the size of the global economy.</p><p>Who has all this debt? Who is it owed to? What does this level of indebtedness mean? And how worried should we be about it?</p><p>Who has this debt?</p><p>According to the IIF, $68 trillion, the largest chunk, belongs to non-financial companies.</p><p>The next biggest borrowers are governments around the world, which have $63 trillion in debt. Financial institutions have $58 trillion of borrowings.</p><p>Finally there are households, with total debt of $44 trillion.</p><p>And who is this money owed to?</p><p>“Us” is the short answer. Every financial liability, which includes debt, has a corresponding financial asset. And all those financial assets are ultimately owned by someone.</p><p>If you put your money in a bank account the bank is likely to loan the cash out to someone else to buy a house: your financial asset thus becomes someone else’s financial liability.</p><p>Debt is a form of wealth.😊</p>","appDepth":2,"appParentPermlink":"p3vkrq8lx","appParentAuthor":"maam.sammy","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
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vote details (2)

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zayedsakib	0 B		2,102,781,563	10%
sadman88	0 B		1,173,964,033	100%