Global Debt Exceeds $100 Trillion

Bloomberg reports: The amount of debt globally has soared more than 40 percent 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, according to the Bank for International Settlements.

Has all that money gone to stimulate the economy? Nope … Virtually none of it has. Instead, governments chose big banks over their own people. The huge amount of debt was racked up to bail out the big banks. Central banks have been engaged in the the “greatest backdoor bailout of all time.” And yet – as Bloomberg notes – everyone else gets austerity...