The guys over at Dollar Collapse bring up a good point in this post. The bailouts of 2008 are looking like nothing more than a kicking the can down the road. The central banks could have let over leveraged banks fail and stopped handing out debt to everyone and their dogs. Instead they did not let the markets correct and now in the US we have this stat.
“It’s not surprising that near-zero interest rates and trillions of dollars of newly-created currency would get people borrowing again…. In 2013 total US debt, equity prices, household net worth, large-bank assets and derivatives books, and a long list of other debt-related measures pierced the records they set in 2007. In other words we’ve recreated the conditions that prevailed just before the world nearly fell apart.”