![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSfmJFmwf4xTPGodpYXDEACP_c8VKZQc1En56pvZWatnAwZGkM6sQWuB2tY67jEGYOOuOU9z8dObieZXE7pDH_42M9CVHLhrRRPzlazDLUZ1yqlcb-eI1ubdgDL__nJ0TgphC3/s400/Total+Debt+to+GDP.jpg)
Essentially all of the so-called "growth" since the 1990 was in fact debt that was claimed to be growth! An analogy would be like an individual borrowing more and more money over a long period of time, spending it all, and then claiming to be "enjoying unprecedented prosperity." Insane, isn't it? But, it is so true.
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