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 Global public debt is spiraling out of control

  You have been warned. The IMF released a statement warning that government debts around the world are growing too fast, rising above expectations and could reach US$ 100 trillion for the first time by the end of the year.

• By 2030, debt could reach 100% of global GDP. This means that it would only be possible to pay off the debts if all the countries in the world pooled all their wealth and resources generated in one year.

How did we get into this situation? Basically, by spending more than they take in, governments borrow money by issuing bonds to make ends meet.

In addition to the pandemic - which has brought about a boom in loans to help people, companies and countries - the ongoing wars have affected trade relations and ended up impacting the planet's production chain.

To give you an idea, today the world's economy is growing at a slow pace of 3.2% a year on average - down from the 4% recorded for decades.

Why does this matter? The accumulation of debts can lead to low growth in the world economy, with less money available for investment and the possibility of tax increases to deal with all these debts.

In the IMF's own words, what should be done to avoid this scenario is to reduce public spending and tax exemptions gradually - avoiding more painful cuts such as in social benefits.

What else in on

• Island: A giant vacuum cleaner. The largest plant ever designed to suck carbon dioxide out of the atmosphere has opened and started operating in Iceland. As the largest plant on the planet, the so-called Mammoth can capture 36,000 tons of CO₂ from the atmosphere per year, the equivalent of taking 7,800 gasoline-powered cars off the road. (Read)

• Georgia: Although it's a country with only 3M inhabitants, Georgia has become the new stage for a dispute between Western countries and Putin's Russia. Police in the country are preparing for mass protests after the Georgian Dream party won the parliamentary elections with almost 54% of the vote. (Read)

• North Korea: The US government has officially said that the North Korean army has sent at least 3,000 soldiers to Russia to receive intensive training in war tactics and the use of heavy weaponry. The move shows the world how Russia and North Korea are increasingly forging an alliance. (Read)

• Cuba: After its electrical system collapsed due to a failure at the country's largest thermoelectric plant, Cuba was hit by Hurricane Oscar, which destroyed homes in the south of the country and left six dead. (Read)

• Brazil: Does Brazil's Supreme Court save or threaten democracy? This was the question placed by the world's largest newspaper in a long article on the power that the judiciary has accumulated in our country. (Read)
  

 The Secret of Us by Gracie Abrams: Again, this one was introduced to me by a friend. She couldn't stop raving about Gracie depth and relatability, and I was immediately drawn into her world of introspective storytelling and ethereal melodies.

Collaborating with Aaron Dessner, who brings his distinct blend of folksy instrumentals and skittering electronics, Gracie crafts a sound that echoes the influences of Taylor Swift and Phoebe Bridgers. The album's intimacy is palpable, with Abrams sharing her inner thoughts as if confiding in close friends. Supporting Taylor Swift on the Eras Tour has clearly influenced her songwriting, infusing it with a sense of infectious joy and connection.

Best songs: Risk, us, Blowing Smoke, I Told You Things

For those who like: Taylor Swift, Phoebe Bridgers, and Lorde. (Rating 7/10)

Today is one of my favorite days of the year.

It's a day to put on a mask and have fun, or perhaps take off our everyday mask and let our true selves shine. It's a day to be whatever you want!

• As a kid, I was obsessed with vampires—not the Twilight kind, but real vampires. I remember watching vampire movies with my father, feeling both terrified and fascinated by those seductive creatures. Even though I knew I wouldn't sleep for weeks, I couldn't stop watching. I think I dressed up as a vampire for my first ten Halloweens, honestly.

I'm not entirely sure why I love Halloween so much, but I've always enjoyed playing pretend. My friends and I would become the Scooby-Doo characters, Pokémons, or even invent our own characters from imaginary TV shows. I used my imagination to escape reality and become part of a grander one. Many people share this sentiment, and as we grew up, Halloween became our outlet.

Today is the only day when it's completely acceptable to dress up as someone else. By becoming another person, you can temporarily set aside life's burdens and immerse yourself in a world of playful fantasy. It's a time to enjoy a break from reality, including academics, work, and other responsibilities. Halloween is also a day of connection, bringing people together to share and learn about each other. I've dressed up as an vampire, an angel, the devil, Pikachu, Myss Keta dressed as Pikachu, a broke superstar, and this year... well, maybe you'll figure it out.

It's rare to find people who love Halloween as much as I do and who put effort into their costumes. If you're one of those few, join me for an amazing Modern Family's Claire's Halloween house party next year — if you know, you know.

P.S.: The picture above shows the wings from when I dressed up as an angel in Australia. Unfortunately, I didn't take any pictures, but it was something like this.

With love,

M.

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