I suppose that congratulations are in order.  It is no small feat to pile up a debt of $315,000,000,000,000, and we will never see a mountain of debt of this magnitude ever again after it comes crashing down.  Even though delinquency rates are rising all over the world, as long as conditions remain at least somewhat relatively stable the game will be able to continue.  Unfortunately, conditions won't be relatively stable for long.  Global events have started to accelerate significantly, and that is really going to shake things up in the months ahead.

According to a report that was just released by the Institute of International Finance, the total amount of debt in the world has reached a grand total of 315 trillion dollars…

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance.

This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic.

"This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets, where debt surged to an unprecedented high of over $105 trillion—$55 trillion more than a decade ago," the IIF said in its quarterly Global Debt Monitor report released in May.