Is the developed world's public debt spiraling out of control? The latest debt figures paint a sobering picture—we've fundamentally departed from the old playbook where nations borrowed heavily during wartime and deleveraged in peacetime. Back then, the cycle was predictable: spike in conflict, then recovery. Today? It's different. Debt accumulates continuously, both in boom times and downturns. The chart tells you everything—the numbers have exploded beyond historical norms. This shift matters for everyone watching markets. Whether you're analyzing macro trends, assessing asset diversification, or trying to understand why central banks keep printing—this structural change in how governments manage finances is reshaping everything from currency stability to alternative asset valuations. The old financial paradigm is officially dead.