Up until now, my work has always focused on credit growth in the United States. In the latest Macro Watch video, uploaded today, I broaden the analysis by incorporating credit data for China, the Euro Area, Japan and the UK – areas of the world that account for an additional 40% of global GDP. This expanded coverage allows us not only to analyze credit trends in the parts of the world that have been added, but also to estimate the level of Total Debt for the entire world. (Remember, Credit and Debt are two sides of the same coin. Total Credit equals Total Debt.) MORE