Being a simple minded type of guy, I always get confused about national debt and GDP. However when it comes to world debt and world GDP, I get even more confused. According to those clever people who know what is going on, the world's GDP has been rising year on year and for the year 2011 it was standing at over $69 trillion. That's a lot of wealth to share between just 7 billion people, yet we have millions of people dying in total deprivation. Obviously we are not doing things right. As for the world's debt, well for the year 2012 it was sitting at approximately $51+ trillion. it is impossible to give an accurate figure as it is rising at approximately more $200,000 per second. That's an awful lot of debt and an unbelievable rate of increase. My confusion comes when I think of the world producing all that "stuff" at an ever increasing rate, and the world's debt rising at warp2, how come? How does the world owe all that debt and to who. Is there an office somewhere, just outside the world where we can make our monthly payments, and remember to get a receipt?
It is bullshit economics, it is insane, we the ordinary people of this world produce and distribute everything in this world to the extent of $69+ trillion and yet, millions of us ordinary people live in poverty and deprivation, and at the end of the day we owe somebody or group, a staggering $51+ trillion and rising. Don't you think that somewhere along the line, we the ordinary people are being ripped-off?