Lyn Alden: We’re coming down from the apex of, and currently within the lengthy resolution process of, a long-term debt cycle.

Historically speaking, we’re coming down from the apex of, and currently within the lengthy resolution process of, a long-term debt cycle, which refers to a multi-decade peak in public and private debts relative to the size of the economy and money supply.

Source: Lyn Alden, "Banks, QE, and Money-Printing"