So the UK's total indebtedness has increased, and is still the biggest relative to GDP of any of the big economies.

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The extension of credits by non-banking institutions to the Soviet Union are not recorded in any Western statistics as adding to the total indebtedness of the USSR and thus constitute hidden Soviet borrowing .

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The main point to make about that backdrop is that we have a very high indebtedness in the U.S. Total credit market debt is roughly 350% of G.

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