World ‘has never been in as much financial debt’ as today

World 'has never been in as much financial debt' as today

Sky News host Cory Bernardi says “the world has never been in as much debt" financially as it is today.

“For years we’ve now been told by economic ignoramuses that it doesn’t matter," he said.

"Governments can print as much money as they needed to in order repay the debt.

“Anyone with any basic knowledge of history knows how the money printing eventually turns out – it always ends up with an inflation problem because there becomes too much cash chasing too few goods.

“The price of goods go up, the cash becomes increasingly worthless, and they keep printing bigger and bigger denominations of notes.”