Once the Coronavirus Is Defeated, the $277T Global Debt Will Be an Even More Dangerous Enemy

Global debt is out of control.

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Illustration by Mackay — Adapted by Sylvain Saurel

Global debt reaches $277 trillion and seems out of control

The world debt has become parabolic and will reach 277,000 billion dollars by the end of 2020. In just a few months, due to policies to support the economy to cope with the coronavirus pandemic, this debt has increased by more than $15,000 billion.

All these figures seem unreal to the general public

To help you better visualize what this global debt represents, let me give you a telling example.

Many countries may go bankrupt in the coming months

Among the advanced nations, the debt increased by 432% as a proportion of GDP in the third quarter. An increase of +50% compared to the same period in 2019. The United States, which has implemented the biggest stimulus packages in the world, alone accounts for half of this increase.

This global debt will be an even tougher opponent than the coronavirus pandemic

While everyone is focused on the coronavirus pandemic right now, the real danger to the global economy lies elsewhere. On November 12, 2020, Pfizer announced that its coronavirus vaccine was 90 percent effective. It was the beginning of the first war of announcements between two pharmaceutical companies.

Conclusion

As soon as the coronavirus pandemic will be truly under control, the economic situation will return to the forefront, and that is when the worst could happen.

Written by

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

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