Soaring Global Debt Sets Stage For “Unprecedented Private Deleveraging”

http://dollarcollapse.com/debt/soaring-debt-unprecedented-private-deleveraging/

Global debt has climbed at an “eye-watering” pace over the past decade, soaring to a fresh high of £170 trillion last year, according to the Institute of International Finance (IIF).The IIF said total debt levels, including household, government and corporate debt, climbed by more than $70 trillion over the last 10 years to a record high of $215 trillion (£173 trillion) in 2016 – or the equivalent of 325pc of global gross domestic product (GDP).