In what can only be described as a revelation, the International Monetary Fund (IMF) now predicts that global public debt will balloon to match the world’s annual economic output by the decade’s end. Who could have seen this coming? The decades-long dance with Keynesianism and relentless statism somehow resulted in massive debt. With slower growth and rising interest rates, that threshold might even be crossed sooner than anticipated. According to the IMF’s latest report, governments must now embrace drastic spending cuts and tax hikes—something we’re hearing for the first time, right?

"It's time for governments to get their fiscal houses in order," says Era Dabla-Norris, Deputy Director of Fiscal Affairs at the IMF. But why bother when the same playbook has been dusted off for every economic hiccup?

The IMF expects global public debt to hit $100 trillion this year, almost 93% of the annual global economy. And as for future debt? Well, with America, China, and other major players ramping up borrowing, the IMF now admits that debt will keep soaring. A shocker.

In extreme scenarios, global debt could reach 115% of global output by 2026, with U.S. debt hitting 150% of GDP. Somehow, the U.S. debt, which was under 60% of GDP at the start of this century, didn’t stay there. Perhaps it’s time to rethink this Keynesian magic and get rid of parasitic instituions like the IMF itself? They could offer their 'service' on the free market to figure out who in his right mind would pay for this.