Canada, France, Italy, Japan, Spain, the United Kingdom, and the United States are all carrying debt equal to more than 100 percent of their GDP. Most of this “D-7” group borrowed heavily during the global financial crisis and again during the COVID-19 pandemic. Japan has been swimming in debt for a quarter century. Yet in terms of the D-7’s reliance on global credit markets, things are at their worst now.

D7, very funny gonna have to remember that one