Another way to think about debt is that central banks are currently purchasing more global sovereign debt than is being issued[1] resulting in negative yields for many bonds. It is hard to fully articulate how perverse this is, but governments are issuing debts and then purchasing them through their supposedly independent central banks and these central banks are paying these governments for the honor of buying their debt -- world governments are paying themselves to take on debts, someone please tell me how anything resembling a market and price realization can occur under these circumstances, this is essentially central planning and is resulting in gross misallocation of wealth throughout the entire developed world.

[1]:http://www.zerohedge.com/news/2015-02-09/stunning-chart-day-...