And in the developing world things look even worse. What began in the US subprime housing market before roiling Europe’s governments is likely to rear its head again – this time in Latin America, Africa and other poor countries. The private, non-financial sector across the developing world has debt service obligations worth nearly 150% of its income. And now developing countries are hobbling along rather than sprinting ahead, while commodity prices have tanked. But at the very least it will cause big problems and starve poor countries of much-needed investment.

Source: The Guardian September 21, 2016 17:15 UTC