What Could Go Wrong? Lots. (opens in new tab)

The record-high level of debt across government, corporate, and consumer balance sheets is no secret. It’s been the elephant in the room for a long time, and it’s growing fatter by the decade. Its knees are beginning to buckle. We’ve reached the point where the entire global financial system looks like one giant bubble. Total US government debt sits north of $39 trillion and is growing at over $2 trillion annually. Corporate debt is at record levels.