Digging Out of Debt (from Economist)

The Economist says it best:

The rich world’s debt reduction has barely begun:

http://www.economist.com/businessfinance/economicsfocus/displaystory.cfm?story_id=15269334

The only thing I could add is that according to Soros, in 1929 total credit was 160% of GDP, peaking at 260% in 1932. Ouch.

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