Wednesday Worrying Time Bomb – Global Debt Past $200Tn

April 15, 2015 at 08:04 AM EDT

How much does prosperity cost? In 2008, the global GDP was $62.86 TRILLION and now, 6 years later, it's $75.59Tn – up $12.73Tn (20%) . To some extent, that's to be expected, as we also added 600M more people (10%) to the World's population (I know, scary) – so there's half the growth accounted for right there but the other $6.4Tn a year was growth . I'm sorry if it doesn't feel like growth to you because that means you must be poor because we in the top 1% and especially those of us in the top 0.01% have had a FABULOUS 6 years since the crash. While earnings actually fell 1.7% for the bottom 80%, equities held by the top 20% (and especially the top 1%) have jumped from $6Tn to $25Tn in the US alone – that's a gain of $19Tn for us! Of course, those stock gains come, in part, because we're paying our workers less and making more money so – thanks little guys – we couldn't have done it without you (but we're sure going to try!). As you can see from the chart above, we all borrowed $57Tn to get those 6 years of $6.4Tn gains, which is only $38.4Tn so I'll grant you it's not the most efficient way to force an economy higher but hey, we're all in this together, right? Well, by we I mean you, of course as WE (in the top 1%) have been able to refinance our debt at incredibly low rates so it's mostly YOU who are struggling and in debt that are financing our incredible gains in wealth and, on behalf of the entire top 1%, I just want to say to you – don't forget your next payment is due on the 15th. Hey, remember that time Bush was President and we passed the, ROFL!, " Consumer Protection Act of 2005 " and we made Credit Card debt non-dischargable in Bankruptcy? We did it for Student Loans too because we (the Banksters) knew that we had lent you WAY too much money and we wanted to make sure we got it back. …

How much does prosperity cost?

In 2008, the global GDP was $62.86 TRILLION and now, 6 years later, it's $75.59Tn – up $12.73Tn (20%). To some extent, that's to be expected, as we also added 600M more people (10%) to the World's population (I know, scary) – so there's half the growth accounted for right there but the other $6.4Tn a year was growth.

I'm sorry if it doesn't feel like growth to you because that means you must be poor because we in the top 1% and especially those of us in the top 0.01% have had a FABULOUS 6 years since the crash. While earnings actually fell 1.7% for the bottom 80%, equities held by the top 20% (and especially the top 1%) have jumped from $6Tn to $25Tn in the US alone – that's a gain of $19Tn for us! Of course, those stock gains come, in part, because we're paying our workers less and making more money so – thanks little guys – we couldn't have done it without you (but we're sure going to try!).

As you can see from the chart above, we all borrowed $57Tn to get those 6 years of $6.4Tn gains, which is only $38.4Tn so I'll grant you it's not the most efficient way to force an economy higher but hey, we're all in this together, right? Well, by we I mean you, of course as WE (in the top 1%) have been able to refinance our debt at incredibly low rates so it's mostly YOU who are struggling and in debt that are financing our incredible gains in wealth and, on behalf of the entire top 1%, I just want to say to you – don't forget your next payment is due on the 15th.

Hey, remember that time Bush was President and we passed the, ROFL!, "Consumer Protection Act of 2005" and we made Credit Card debt non-dischargable in Bankruptcy? We did it for Student Loans too because we (the Banksters) knew that we had lent you WAY too much money and we wanted to make sure we got it back.

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