: it found that more than 20% of US corporations are at risk of defaults once interest rates rise, and calculated that the combined assets of firms threatened by default - those who earnings do not cover their interest expense - could reach almost $4 trillion.

Fast forward exactly one year to today, when the IMF once again sounded the alarm on debt, only this time on the public side of the ledger, warning about - what else - excessive global borrowing, and noting that with a total of $164 trillion of debt, or 225% of global debt to GDP...