This is total global debt, 327% of global GDP, a massive $217 Trillion.
As far as I'm aware this doesn't include liabilities (things that need to be paid for like pensions and infrastructure projects).
In other words we're all fucked. Not gently eye-to-eye contact with rose petals on the bed sheets fucked, but can't sit down for a week "I think that bastard used swarfega as a lubricant" fucked. There's no money left to repay debts without a massive printing and devaluation of fiat currencies.
That means that despite all of this "bubble" talk of cryptos, the opposite could be true.
I think a lot of people in the financial world still think of Bitcoin as Tulip Mania. That one day we'll all look back on this and laugh "remember when people used to burn out graphics cards mining Bitcoin?"
This seems like they're worrying about the twigs in our eyes and not the logs in theirs. Particularly as the world learnt nothing from the 2008 crash and are carrying on as before. Mortgage backed securities based on dodgy mortgages are once again back in vogue.
https://steemit.com/news/@purpleprose/so-you-screwed-the-world-over-once-why-not-try-it-again
Will Bitcoin and other alts crash?
Yes, time and time again but most of the problems fiats have, we don't. There's no complex financial instruments based on debt, leverage for trading is provided by other users rather than conjured out of thin air and there's no central bank to print our coins away.
When the next fiat money crash happens, cryptocurrencies will soar. The shitcoins may not survive but coins like Ethereum, Bitcoin and Litecoin are likely here to stay. There will be a lot of push back from governments and bankers, but if it's survival of the fittest, we're in far better shape than they are.