Debt is the Problem and Private Debt is Even More of a Problem

"As many of you know our fund is currently positioned to benefit from a declining stock market. This bearishness is mostly due to the enormous debt built up over the last few decades (total debt-including private debt-- was $11 trillion in 1984 and grew by over $40 trillion to over $52 trillion today). Of that $40 trillion increase over 27 years, $26 trillion came in the last decade..."



at http://www.creditwritedowns.com/2011/08/private-debt-deflation.html