A recent analysis of the demands the world's population is placing on the planet conducted by an organization showed that earth residents as of August 13 have used all of the resources of earth which it is able to produce in one calendar year.

The analysis has also revealed that humans have produced more waste than earth can absorb in less than eight months. Researchers said the analysis has presented striking figures about earth's resources and its usage.

They called it the earth's 'overshoot day' for 2015, a point at which humanity goes into ecological debt. An estimate by the Global Footprint Network (GFN) phenomenon occurred on Thursday six days earlier than last year.

The date is based on a comparison of humanity's demands in terms of carbon emissions, croplands, fish, stocks, and the use of forests for timber with the planet's ability to regenerate such resources and naturally absorb the carbon emitted.

The results have shown the excess demands being placed on natural systems are doing permanent harm. As per GFN estimates human consumption first began to exceed the Earth's capacity in the early 1970s and the overshoot day has been falling steadily earlier ever since.

Researchers said this is happening because of the growth in the global population and due to the expansion of consumption around the world.

Mathis Wackernagel, president of the GFN, told the Guardian, said, "The big problem is not that our deficit is getting bigger, it is that it cannot be maintained in the long run. Even though we are in a deficit equation we are not taking measures to take us in the right direction".

He said the major problem is psychological, and at some point we are missing the basic physical law. For 98% of economic planners it is a minor risk which they think is not a matter to pay much attention.