This is a transitional period for the  forward consumption Global Asset-Debt global macroeconomy.

The global one quadrillion dollar Asset Debt Macroeconomic system’s Bad Debt, defined as debt that will under default or partial payment,  has been accumulated primarily through easy credit and the asset and malinvestment bubbles created ultimately by the financial and debt industry.

Repayment of the accumulated bad debt is now occurring with advances in technology, computer robotic automation of Western industry, education innovation, and exploding much cheaper energy sources which will undermine job growth in traditional areas with fewer jobs needed in a much more efficient labor saving economy of the future.

Qualitatively this makes the system’s past accumulated debt more difficult to discharge.

Tax advantaged Equities are the Asset Debt System’s legislated best speculative asset area to gain profits during expansion of the the Asset-Debt System’s collective worth which includes both  assets and debt whose valuations are mutually interdependent and dependent on new populations of debtor consumers.

During long linear periods of growth debt is generally  honored facilitated by  both GDP growth, primary asset appreciation (real estate) and by wage inflation.

At Asset Debt system saturation areas of cumulative bad debt, saturated conditions exist where bad debt cannot be repaid and nonlinear asset depreciation occurs.

(US) federal deficit spending with a targeted  GDP increase by 2-3 percent or so will promote stabilization and continuation of the Asset-Debt system with a slower descent of real estate prices and more gradual elimination of bad debt.