So just how big is one trillion dollars? If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
We Are Living In The Biggest Debt Bubble In The History Of Our World".
While the bet we've been making with the future has held up so far, what was revealed in 2008 is the downside of this scenario. If we don't keep piling up more debt, we face a very nasty period of deleveraging, which could make the Great Depression look like a party. But the higher the debt levels get, the worse the hangover when we stop drinking from the debt bottle.
If infinite growth were actually possible, then perhaps this wouldn't be a problem (though it would still face the risk of systemic shock being made much worse by all the debt hanging around). But infinite economic growth on a finite planet is not possible. We are betting against the future and keep doubling down, making our ultimate inevitable loss many times greater.
I am not an economist nor an economist's son and perhaps I'm missing something crucial, but this doesn't really sound like good news to me.