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RedDeerGuy1's avatar

What is the total amount of Earth's debt?

Asked by RedDeerGuy1 (24986points) 10 hours ago

From all levels of government, and including all business, and personal debt? For the whole planet?

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11 Answers

ragingloli's avatar

Earth’s debt is zero. Humanity’s debt to the Earth is immeasurable.

elbanditoroso's avatar

From an accounting point of view, one person’s debt is another person’s receivable. Receivables are generally considered an asset to the institution expecting to be paid.

So the total amount of debt is precisely $0.00, because if you aggregate all the money owed against all the money receivable (assets) then they balance each other out.

[Now, if you are talking about individual people, companies, and/or countries, that’s a different story. But you asked about the total amount across the earth.]

RedDeerGuy1's avatar

@elbanditoroso Ok. How much treasure is borrowed?

Blackwater_Park's avatar

“debt” is a human creation. It does not exist just like the “value” of our currency does not exist. But, strictly speaking, it’s zero if you look at all debt as a balance sheet.

elbanditoroso's avatar

Zero, like I said.

RedDeerGuy1's avatar

@all Thanks.

ragingloli's avatar

@elbanditoroso
Did you factor in interest and compound interest that creates additional debt out of thin air?

elbanditoroso's avatar

@ragingloli interest and such are owed to the lender, as receivable amounts. Same answer.

RedDeerGuy1's avatar

Ok @elbanditoroso How about this? How much credit is available?

EDIT How bad is the world’s debt crisis? How would it be quantified? Which groups are ok and what groups are screwed?

elbanditoroso's avatar

There is absolutely no way to know, because it depends on what you include.

For example, US war bonds issued in WW2 – the last one was paid off in the 1980s some time. Other countries have massive debts – think of the billions and billions owed to China because of their Silk Road international construction plan.

Or sovereign debt from Russia, Germany, Italy, the EU, and so on and so forth.

There’s a ton of national obligations out there.

About the best you can do is consult this book published by the CIA, and do a lot of spreadsheet work.

RedDeerGuy1's avatar

@elbanditoroso Thanks. Sorry I thought that there would be a Wikipedia page or something easy. I’m not spending Christmas looking through charts. Thanks for alerting me to the headache. You saved me grief.

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