Nightmare Fuel

by Pejman Yousefzadeh on April 18, 2011

Via e-mail from Francis Cianfrocca comes this paper, which as Francis says, tells us that “when private debt rises above 110% of GDP in any country, the financial industry starts having a negative rather than a positive contribution to societal outcomes.”

Scary factoid of the day: Francis points out that “[t]he ratio in the US is now almost 300%.”

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