That Debt-to-GDP chart in the Matterhorn link – while very popular – is also wrong because it double-counts securitized loans as debt. We’re actually at around 250% of GDP – which is WAY too high – but well below the relative Great Depression debt levels. That particular Debt-to-GDP chart starts falling off the wagon around 1980, when securitization was picking up steam. Just a detail to keep in mind.
