International Monetary Fund (IMF) with the warnings, from the latest of their twice-yearly report on government borrowing:
- projected that U.S. government debt relative to economic output will rise by 70% by 2053, while Chinese debt will more than double by the same year
- Warns surge in US, China debt could have 'profound' impact on global economy
- Sees global government debt rising to 98.8% of GDP in 2029
- Also 'critical' that Italy and the UK address their debt problems
- Global election year set to push budget deficits higher as spending rises
Don't tell the gold market this or everyone will buy it. Oh, wait ....
