The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis

Dominoes - Public Domain

There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about to see, there are 24 nations that are currently facing a full-blown debt crisis, and there are 14 more that are rapidly heading toward one. Right now, the debt to GDP ratio for the entire planet is up to an all-time record high of 286 percent, and globally there is approximately 200 TRILLION dollars of debt on the books. That breaks down to about $28,000 of debt for every man, woman and child on the entire planet. And since close to half of the population of the world lives on less than 10 dollars a day, there is no way that all of this debt can ever be repaid. The only “solution” under our current system is to kick the can down the road for as long as we can until this colossal debt pyramid finally collapses in upon itself.

As we are seeing in Greece, you can eventually accumulate so much debt that there is literally no way out. The other European nations are attempting to find a way to give Greece a third bailout, but that is like paying one credit card with another credit card because virtually everyone in Europe is absolutely drowning in debt.

Even if some “permanent solution” could be crafted for Greece, that would only solve a very small fraction of the overall problem that we are facing.  The nations of the world have never been in this much debt before, and it gets worse with each passing day.

According to a new report from the Jubilee Debt Campaign, there are currently 24 countries in the world that are facing a full-blown debt crisis

■ Armenia

■ Belize

■ Costa Rica

■ Croatia

■ Cyprus

■ Dominican Republic

■ El Salvador

■ The Gambia

■ Greece

■ Grenada

■ Ireland

■ Jamaica

■ Lebanon

■ Macedonia

■ Marshall Islands

■ Montenegro

■ Portugal

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Comments

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Moon Kil Woong 9 months ago Contributor's comment

The US certainly can't afford to bail them out and China can't either because they need their reserves to support their currency and domestic debt balloon. Clearly the EU is helping the EU nations, however this will end badly. The EU isn't a paradigm of strength either.

Alexis Renault 8 months ago Member's comment

Very true, so what's the answer?

Old Time Investor 9 months ago Member's comment

Business/countries that can't figure out how to survive on their own don't deserve to be bailed out.

David Harris 5 years ago Member's comment

At the very basic level for people who know what's coming. The most important thing you're going to need is food. Either start growing your own or move to a country with good agriculture and plenty of land ie: Ireland,Canada,wherever and start a farm for your family. It was popular in the earliest of man's history for a reason - the sweat off your back, not money was the deciding factor in your life. A Fence, A Farm and a Firearm are all you need in this world. If the SHTF and confusion reigns cover the 3 F's and you and your Family will enjoy life maybe better than before. No-one should loose hope and none should despair. Start looking now however's first will get the best land.

Texan Hunter 8 months ago Member's comment

Well said!

Roman Legierski 5 years ago Member's comment

It is all regarding the plan of Almighty you can read either in Bible either in Quran

Angry Old Lady 11 months ago Member's comment

Old or new?

Yugo Ivanovich 5 years ago Member's comment

How many of these countries on the list have loans from the IMF and the World Bank?

If majority do, then that is the main reason why they are on the bankruptcy lists. IMF and World Bank practice loansharking at the highest level.

Joa Lima 5 years ago Member's comment

If that crisis comes, just hire South American economists. We know a lot about how to generate and how to leave that kind of crisis. See: there's no South American country in that list!

Karim Mansour 5 years ago Member's comment

Well, believe it or not i'm looking forward to the collapse, and that is because there is a solution and a way forward.

Bruce Powers 8 months ago Member's comment

Ouch!

Dzulietta Vilenski 5 years ago Member's comment

May be a money free humanity will be the next solution?

Bruce Powers 8 months ago Member's comment

What does that mean?

Gordon Toussaint 5 years ago Member's comment

Why is Aruba not listed. Are we well off?

Wouter Vink 5 years ago Member's comment

don,t be afraid it is only money

and in your last jack there are no pockets.

so they can have it all, even my debts.

so life your live, and take care off other people

Amen