The BBC presents an interactive debt chart to demonstrate who owes what to whom:
This morass of interconnected debt rather reminds me of T.S. Eliot’s Wasteland:
That corpse you planted last year in your garden,
Has it begun to sprout? Will it bloom this year?
Or has the sudden frost disturbed its bed?
No flowers shall bloom from the stinking cadavre of interconnected debt . As I have explained, the lack of any real debt liquidation or deflation post-crisis has turned much of the global economy into a walking zombie, weighed down by an excessive debt load, and politically and socially incapable of addressing structural issues.
Dead bodies cannot return to the earth to grow anew unless they are allowed to decompose. But policymakers cannot countenance any kind of decomposition.
So the corpse sits in a tank of formaldehyde: