> Total global debt is estimated in excess of 100trillion.

That number sounds scary, but ask yourself: Who is the debt owed to? Is it to Galactus, Eater of Worlds, who will devour our planet if we fail to pay? No, the debt is mostly owed to other people who have their own debts. Follow the flows around--instead of summing every step--and you'll see the cycles cancel out.

Imagine three people marooned on an island: They could find a shiny rock, slap a price on it, and sit down in a circle, lending it around clockwise until the Total Islandwide Debt reaches $300 trillion, where each resident has $100t in debt (to the person on their right) and $100t in credit (to the person on their left.)

Have these three castaways doomed civilization or enslaved the masses? Will countries deliberately not-rescue them to prevent an economic crisis? Nah.

TLDR: "Total" debt is not a very meaningful statistic.