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BREAKING: Global debt jumped by more than +$10 trillion in H1 2026, to a record $365 trillion. Emerging-market debt drove the increase, rising +$6.5 trillion, to a record $110 trillion, with most of the surge coming from governments and non-financial companies. Excluding China, emerging-market and developing-economy debt soared to a record $38 trillion. Global debt now stands at ~310% of global GDP, although the ratio has fallen -25 percentage points from its early-2021 peak, largely because inflation has boosted nominal GDP rather than because of deleveraging. Meanwhile, developed economies paid more than $3.3 trillion in interest on marketable government debt over the last year, exceeding estimated global spending on AI at $2.6 trillion, defense at $3.1 trillion, and clean energy at $2.3 trillion. This comes as annual government interest payments across the G7 alone surged +85% YoY. The global debt crisis is in uncharted territory.

Zohran Mamdani’s advisers plan for socialized housing.. “Housing will be owned by a collective and everyone will be paying 30% of their income, in order to live in their housing.” “If someone makes $0 per year, they live for free — if someone makes $500k per year, they’re paying 30% of that.” Insanity.