I read at the end of 2019, the world had a total debt level of $250,000,000,000,000 dollars (250 trillion).
As of April of last year, the total global population was approximately 7,700,000,000. Rounding up to a rough 8 billion people, this would equate to a per person debt level of $31,250.
This seems like a lot of debt to me. If everyone were to default, would the lenders like their new collateral?
I highly doubt it.