"Let's keep this really simple. Since the financial crisis, how much more dollar-denominated debt is out there in the world."

That was Rick Santelli on CNBC an hour ago. Here's the video:

http://video.cnbc.com/gallery/?video=3000422916

As the global economy slows, borrowers will cease to earn enough to service their debts. And the amounts are astronomical: $57T new debt at 17% debt-to-GDP ratios.

Link to McKinsey GI report on "Debt and (not much) deleveraging":

http://www.mckinsey.com/insights/economic_studies/debt_and_n...