''Normally when articles talk about debt to GDP the reference is government debt to GDP. Overlooked is adding up all debt and seeing what that ratio is. The results were rather startling.
That the western economies are overburdened with debt is not news. Long before the financial crisis of 2008 there were numerous warnings of an impending debt collapse. The warnings were largely ignored.
Since then little has changed. The banks were bailed out and the financial institutions went back to business as usual fighting off all attempts to re-regulate the market and paying themselves huge bonuses.
Not included in this chart is the $700 trillion (some say it is as high as $1.2 quadrillion) of derivatives outstanding.''
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