Money can be a little tricky at times. We've all heard about the looming 'world debt,' or even the 'national debt' in general. We've also seen oddball teenagers make TikTok videos about what this means, how money is meaningless, and how we most likely owe money to aliens. Whatever your thoughts are on that, here are the facts. We saw the most significant one-year debt increase since World War II in 2020, with global debt reaching $226 trillion. Debt levels were already high before the crisis, but governments now face a world of record-high public and private debt levels, new virus mutations, and rising inflation. The year 2021 accelerated this. The increase is being driven by increasing private-sector debt, particularly in China. According to the fund, China has accounted for nearly three-quarters of the rise in private debt since the global financial crisis. The IMF figures reveal the magnitude of the debt hangover. The world is still recovering a decade after the financial crisis pushed the global banking system to the verge of collapse and tipped the global economy into recession. Governments increased spending to stimulate growth, while central banks used unconventional methods, such as bond purchases to ease financing conditions. The global debt is currently around $300 trillion, creeping closer to the 350 trillion mark. Hold up, hold up, hold up. Okay, 300 trillion with a T dollars in debt? How? How did we get into this situation? Who is owed money? What steps are being taken to address it? We'll answer all of those questions in today's episode and more. As always, Thank You so much for taking the time in listening as well as reading this. Do not forget to follow the podcast on any platform you are listening to and review it if you are on Apple Podcasts or Spotify. If you want to get in touch with me, here is everything I am accountable for - Have a great day! > www.linktr.ee/neogyspandan