Between 1990 and 2007, the total mortgage debt held by Americans rose from $2.5 trillion to $10.5 trillion. This rise was part of a societal credit bubble that burst in 2008. To cushion the pain of that collapse, federal authorities decided to replace private debt with public debt. A very small tail wags big damn dog.
The total number in dollars of derivatives is somewhere around $550 trillion.
The total number in dollars of derivatives is somewhere around $550 trillion.Is that the U.S. tally or the global tally? I've seen the same and similar numbers. This blog suggests it's global.
http://blog.ira-401k-realestate.com/category/the-600-trillion-derivatives/