Why debt is the 'opioid crisis' of the global economy

Debt has become the opioid crisis of the global economy.

A strong recovery by financial markets this year has lulled investors into complacency about the risk of a major correction soon.  Best and worst-performing funds over ten years of QE Fuelled by modern monetary theory - based on the notion that nations can pile on debt with impunity - the world has been borrowing and spending like no tomorrow. In just over a decade, world debt has soared by $100trn to around $240trn - equivalent to 270% of GDP.  What started as a short-term fix to prevent the global economy from sliding into a slump in 2008 has turned into a chronic habit the world...