Credit growth on that scale is not easy to achieve, especially given stagnant wages, the already high level of private sector debt and, now, increasing interest rates. (richardduncaneconomics.com)
If you account for all of those private sector assets (among others), net private sector debt is actually quite low and on par with the 70s. (carnegieendowment.org)
Its growing obligations to pay interest crowd out other categories of public spending, just as private sector debt service diverts money away from new investment and consumption. (michael-hudson.com)