Sunday, February 15, 2015

David Stockman: The Global Economy Has Entered The Crack-Up Phase

We’re now at the $200 Trillion threshold. That’s up from only about $140 Trillion at the time of the crisis. So we’ve had a $60 Trillion expansion worldwide of debt just since 2008.

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within that global total of $200 billion, the numbers from China are even more startling. At the time of the crisis, let’s go back to 2000, China had $2 Trillion of credit outstanding. It’s now $28 Trillion

http://www.zerohedge.com/news/2015-02-15/david-stockman-global-economy-has-entered-crack-phase

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