The numbers are almost incomprehensible – last month US debt hit 40 trillion dollars. With an interest bill of more than three billion dollars a day.

And that’s before Donald Trump’s trillion dollar promise to hand every adult in America a cheque for five thousand bucks!

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 SMH, Shane Wright on the chance of another GFC and what it means for Australia.

 

If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.

 

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Guest: Senior Economics Correspondent at the Age & SMH Shane Wright

Photo: AP Photo/Richard Drew

The numbers are almost incomprehensible &ndash; last month US debt hit 40 trillion dollars. With an interest bill of more than three billion dollars a day.
And that&rsquo;s before Donald Trump&rsquo;s trillion dollar promise to hand every adult in America a cheque for five thousand bucks!
Now, as global debt levels rise to record highs, and the cost of paying that debt rises too &ndash; experts are sounding the alarm &ndash; warning the economic storm that&rsquo;s brewing is starting to look an awful lot like the 2007 global financial crisis.
Today, Senior Economics Correspondent at the Age and SMH, Shane Wright on the chance of another GFC and what it means for Australia.
&nbsp;
If you enjoy 7am, the best way you can support us is by making a contribution at <a href="http://7ampodcast.com.au/support">7ampodcast.com.au/support</a>.
&nbsp;
Socials: Stay in touch with us on <a href="http://www.instagram.com/7ampodcast">Instagram</a>
Guest: Senior Economics Correspondent at the Age &amp; SMH Shane Wright
Photo:&nbsp;AP Photo/Richard Drew

An independent daily news show. We feature the country’s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

An independent daily news show. We feature the country&rsquo;s best reporters, covering the news as it affects Australia. This is news with narrative, every weekday.

Is another GFC brewing?

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