Much like Saturn has rings, soon Earth will have a ring. Except ours is made from debris dumped in space and is traveling at 20,000 miles above Earth.
The orbiting junk is largely comprised of outdated telecommunication equipment.
Implications - The ESA has also stated that the amount of junk that is orbiting the Earth has been steadily increasing by 200 pieces per year. With 600 working satellites in space at the moment, there is bound to be more junk floating around in the near future. Maybe the new job of space garbage men will open up soon!