Global Debt at Record High, Raising Fears of Another Financial Crisis | Vantage with Palki Sharma

The world is drowning in debt, with the total amount owed now reaching a staggering $315 trillion, which is nearly three times the global GDP. The debt is spread across households, businesses, and governments. Experts warn that this unsustainable level of debt raises the risk of large-scale defaults, which could trigger a new financial crisis. Large debt burdens can have devastating consequences, especially for households. Defaults can lead to families losing their homes and savings. Further, the rise of “Buy Now, Pay Later” (BNPL) platforms is creating more risks. These platforms offer easy loans with flexible repayment options, but they often come with high-interest rates. Palki Sharma tells you more.

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#usa #economy #globaldebt #globalrisk #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

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