The World is not Bankrupt

Not yet. World debt is $300T and world wealth is $360T. The world is $60T to the good. That does not mean all is well. A lot of that wealth is private hands, in the hands of the rich and a lot of that debt is on government books and poor people's credit cards. People in the black are powerful and countries and people that are in the red are weakened.

I suggest we don’t take these numbers at face value. They don’t include a lot of things of value both intrinsic and sentimental. Not all assets are included and not necessarily properly valued. The world is much richer than these numbers indicate.

Things are precarious. If the rich wanted to bankrupt us all, they could easily do it. Every hundred years or so a revolution has taken down a bunch of the rich. I don’t see that ever happening again.

TEK