CHART: Global indebtedness has grown sharply

Courtesy of CLSA, using data provided by McKinsey Global Institute, comes this amazing, and to some alarming, chart.

It reveals the global stock of debt outstanding, breaking it down into financial, government, corporate and household liabilities.

McKinsey estimate that aggregate global debt has grown by $57 trillion, from $142 trillion in 2007, to $199 trillion at the end of 2Q14, increasing the ratio of global debt to GDP by 17 percentage points to 286%.

While a rapid pace of growth, this is only one side of the ledger. Clearly asset prices have also seen rapid growth over the same time period, as record low interest rates and increased debt issuance channelled funds into financial and hard assets.

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