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The numbers are almost incomprehensible – last month US debt hit $40 trillion. With an interest bill of more than $3 billion a day.
And that’s before President Donald Trump’s trillion-dollar promise to hand every adult American a cheque for $5000.
Now, as global debt levels rise to record highs, and the cost of paying that debt rises too, experts are sounding the alarm – warning the economic storm that’s brewing is starting to look an awful lot like the 2007 global financial crisis.
Today, senior economics correspondent at The Age and The Sydney Morning Herald, Shane Wright on the chance of another global financial crisis and what it means for Australia.
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