--Doug Carlin (Deja Vu)
This analysis dispels the corporate deleveraging myth. Compared to 2008/09 levels, total corporate debt is 35% higher. Net debt is 15% higher.
That leverage is higher now should be obvious given the orgy that has been taking place in corporate bond issuance.
Remember that, despite appearance, the more leveraged the system, the more unstable it is.