Forget Grlobal Warming. DebtMag Get Us First

摘要

How do governments extricate themselves from financial crisis? Often by spending money, usually of the borrowed variety. Insight into the scope of today's crisis recovery may be gleaned from the scope of today's global debt, which is burgeoning again after contracting sharply in 2007 and 2008. Global debt issuance surged 34 percent last year, to $5.9 trillion. Stimulus-rnminded sovereigns nearly doubled their borrowing, to $592 billion. Investment-grade corporate borrowing also jumped. Banks needed the money, of course, and nonf inancial companies rushed to lock in low rates; their borrowing surged 64 percent, to $1.5 trillion.