Therein lies the problem

Zerohedge reports on a world engulfed in debt:

If anyone has stopped to ask just why global central banks are in such a rush to create inflation (but only controlled inflation, not runaway hyperinflation… of course when they fail with the “controlled” part the money paradrop is only a matter of time) over the past 5 years, and have printed over $12 trillion in credit-money since Lehman, the bulk of which has ended up in the stock market, and which for the first time ever are about to monetize all global sovereign debt issuance in 2015, the answer is simple, and can be seen on the chart below.

It also shows the biggest problem facing the world today, namely that at least 9 countries have debt/GDP above 300%, and that a whopping 39% countries have debt-to-GDP of over 100%!

The problem with this can be seen in one of the famous Reinhart-Rogoff papers, Growth in a Time of Debt:

Our main findings are: First, the relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more. 

And before you cite the well-known Excel error, that changes nothing substantive. The core cause of the global depression is becoming increasingly obvious to everyone. The root of the problem, as I have been pointing out since about 2002, is that in a credit money system, the central banks cannot print borrowers.

This means their obvious next step will be the usual attempt to move the problem up a level by centralizing internationally and pushing for a global currency that will automatically devalue the currencies being replaced by a factor that will reduce debt/GDP below 90 percent.