Debt Saturation and Peak Complexity

"The credit bubble over the last few decades reflects an exponential growth of complexity in the global economy (and in all of human civilization as a result). In 1929 at the beginning of the Great Depression, the U.S. private debt to GDP ratio was about 150%. Fast forward to 2007, and we have more than doubled that ratio to a staggering 300%+ and many other countries have also followed in our misallocated footsteps (housing bubbles have developed in Canada, China, India, Australia and many Euro-zone countries to name a few). America could rightfully be accused as the primary driver of this bubble, since we have the global reserve currency and much of the debt incurred by people in other countries was denominated in dollars. We owe much of that status to our bloated military-industrial complex and reckless/malicious expansionist policies (the U.S. has 700+ military bases established around the world). "