I was going to start a new thread so sorry if I repeat some stuff but I want to keep my flow:
The total debt to GDP (Public Plus Private) in 2007 was at or at near historic highs. Some measures of Det to GDP put the total public and private debt to GDP at twice that of the great depression.
However, if you look at non finical sector debt it was on par with the great depression:
Regardless household debt rose steadily 1952 up until 2007
and aside from some capital gains which were financed via the dot com bubble public debt has been rising since 1980 which was the next biggest downturn since the great depression:
Since about 2001 the total household debt has exceeded (yearly?) disposable household income:
Debt servicing levels though must have fallen some since given in September 2007 putting consumer debt servicing as a percentage of disposable income at 2000 levels
and total debt as a percentage of income has fallen some as well putting us about half way to the year 2000 levels from the highs of 2007