Governments are drowning in debt as borrowing costs skyrocket, forcing them to spend more just to pay interest—leaving less for schools, hospitals, and roads. Tech giants are gobbling up cash to fuel AI, driving up competition for investor dollars and pushing rates higher for everyone. Inflation and global tensions are forcing central banks to keep rates elevated, while investors demand bigger returns on government bonds. Economists warn of a looming credit crunch and potential global recession if debt doesn’t slow—especially as the US and Australia grapple with trillion-dollar liabilities. The result? Higher mortgages, steeper business loans, and tighter budgets for all.
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