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Let's analyze the alarming public debt situation of some relatively / economically powerful countries.

⨕ The world financial system presented us with another account in this 2020, but world governments seem to have learned nothing after 2008 12 years ago. At this rate we risk continuous / systemic economic recessions that are irreparably part of the debt-based economic system. Such a scenario would be unthinkable in the Bitcoin blockchain system as such large debts could not even exist, given that the maximum number of Bitcoins will reach its peak at 21 million and no others can be mined.

----- ITALY🇮🇹💶 The Italian public debt situation in 2018 was equivalent to 2,321.95 billion, subsequently in January 2019 it rose to 2,363.49 billion increasing more and more, especially after the covid emergency. The current index is equivalent to 132.2% of the Italian gross domestic product, largely the public debt and held by Italian creditors. ---- FRANCE🇫🇷💶 France in the last quarter of 2019 almost reached the 100% threshold of public debt with respect to gross domestic product. At the end of the second quarter, the French public debt amounted to € 2,375.4 billion, stable at 99.5% of the gross domestic product. A large part of the debt is held by the European Central Bank. --- ENGLAND🇬🇧💷 The deficit-to-GDP ratio for the fiscal year ending March 2019 stood at 1.2%. The public debt is 1800 billion pounds which amounts to 85.2% of the gross domestic product. Great Britain is now the fifth largest economy in the world and the second largest in Europe, with a gross domestic product of around 2,000 billion pounds; an overall stable economy but certainly the future effects of brexit and covid-19 should not be underestimated. ----- CHINA🇨🇳💹 Public debt in China increased in the second quarter of 2019 due to Beijing's efforts to support economic growth, the Chinese government's debt ratio had risen to 38.5%. On the other hand, it is very difficult to accurately estimate the total public debt in China. Central government debt figures are fairly accurate, while provincial and local government accounts are known to be poorly transparent. ---- JAPAN🇯🇵💴 Japan has a public debt close to 240% of GDP, the highest in the world, and an average deficit of around 3.9%. Despite the possible risk of inflation, Japan bears a large part of its debt through the Japanese central bank, in essence Japan is mainly in debt with itself. ---- UNITED STATES🇺🇸💸 The American public debt is around 23 trillion dollars, equal to about 105% of the GDP. Exploded in the 10 years following the 2008 crisis, almost doubling from 10.6 trillion dollars to about 19.000; driven by the concept of "petrodollar" and the constant wars around the globe, the United States is printing money at a dangerous and unstable rate. Do not forget the portion of debt that the Chinese have with the United States. --- tenor 2.gif

---- The data transcribed in the article have been extrapolated thanks to google data and processed in context, some numbers and data may vary over time.