$250 Trillion in Debt: The World’s Post-Lehman Legacy
Reminder: $250t debt is $250t assets on someone else's balance sheet. The money is not owed to aliens but to other humans.Finding who is is owed to is harder. A big chunk is pension funds, insurers and so on, where one person's debt is another person's retirement savings. Which must increase overall as life past retirement does.But a large chunk is assets of financial industries and the super wealthy, and in order for it to be net paid down they have to get poorer - or at least be forced to reallocate to equities.(Note also that as interest rates drive ever lower debt naturally expands too. If they can be driven negative it becomes an advantage.)