Debt and deleveraging: The global credit bubble and its economic consequences | McKinsey Global Institute | Financial Markets | McKinsey & Company<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Empirically, a long period of deleveraging nearly always follows a major financial crisis. Deleveraging episodes are painful, lasting six to seven years on average and reducing the ratio of debt to GDP by 25 percent. GDP typically contracts during the first several years and then recovers. via Debt and deleveraging: The global credit bubble and … <\/p>\n
Continue reading “Debt and deleveraging: The global credit bubble and its economic consequences | McKinsey Global Institute”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,29],"tags":[956,993,1524],"class_list":["post-2678","post","type-post","status-publish","format-standard","hentry","category-debt-levels","category-the-big-picture","tag-debt","tag-deleveraging","tag-gdp"],"yoast_head":"\nDebt and deleveraging: The global credit bubble and its economic consequences | McKinsey Global Institute - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt and deleveraging: The global credit bubble and its economic consequences | McKinsey Global Institute - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Empirically, a long period of deleveraging nearly always follows a major financial crisis. Deleveraging episodes are painful, lasting six to seven years on average and reducing the ratio of debt to GDP by 25 percent. 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The rise has been facilitated (and encouraged) by a sharp fall in long-term interest rates, with 10-year Treasury yields falling from a peak of close to 16% in September 1981\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4133,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/19\/not-exactly-a-miracle-but-u-s-debt-levels-are-falling-floyd-norris-nytimes-com\/","url_meta":{"origin":2678,"position":1},"title":"Not Exactly a Miracle, but U.S. Debt Levels Are Falling – Floyd Norris – NYTimes.com","author":"Colin Twiggs","date":"April 19, 2012","format":false,"excerpt":"Floyd Norris: To get some idea of what needs to be done now \u2014 and what the result will be \u2014 the McKinsey institute points to two incidents in the early 1990s that got little attention at the time in the United States. Those were the bursting of real estate\u2026","rel":"","context":"In "Debt Levels"","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2664,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/16\/mark-carney-growth-in-the-age-of-deleveraging\/","url_meta":{"origin":2678,"position":2},"title":"Mark Carney: Growth in the age of deleveraging","author":"ColinTwiggs","date":"December 16, 2011","format":false,"excerpt":"Today, American aggregate non-financial debt is at levels similar to those last seen in the midst of the Great Depression. At 250 per cent of GDP, that debt burden is equivalent to almost US$120,000 for every American (Chart 1). .....backsliding on financial reform is not a solution to current problems.\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14902,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/06\/can-australia-dodge-the-great-deleveraging-macrobusiness\/","url_meta":{"origin":2678,"position":3},"title":"Can Australia dodge the great deleveraging? | MacroBusiness","author":"ColinTwiggs","date":"March 6, 2017","format":false,"excerpt":"Interesting chart from UBS (via Macrobusiness). Movement between 2002 and 2016 for a number of Developed and Emerging Market (DM and EM) countries in the ratio of bank credit to GDP and bank debt to credit. The good guys are in the top left corner and the bad guys bottom\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6377,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/05\/how-cancelling-central-banks-holdings-of-government-debt-could-be-a-useful-thing-ft-alphaville\/","url_meta":{"origin":2678,"position":4},"title":"How cancelling central banks\u2019 holdings of government debt could be a useful thing | FT Alphaville","author":"Colin Twiggs","date":"December 5, 2012","format":false,"excerpt":"FT's Kate Mackenzie writes: Morgan Stanley cross-asset strategist Gerard Minack says the remarkable thing about developed economy deleveraging is how little of it has happened: The credit super-cycle ended four years ago, but leverage has hardly fallen in major economies: debt-to-GDP ratios remain historically high. 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From South China Morning Post: Evergrande is perhaps the\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2678"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2678\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}