Global debt hits a fresh record of 322% of GDP, by the Institute of International Finance.
There is no return to normal interest rates (i.e. around 6%) and sound money until the debt crisis is resolved. Interest rates cannot rise without bankrupting half the world. When this crisis breaks it will sweep all other issues before it, but until then we’ll just keep a watch on it.
Interest rates are normally around 6% because of the future-time orientation of humans. Rates were at this level for centuries in Europe before fractional reserve banking (1600) and later central banking (1910).
The debt to GDP ratio is usually around 130%. It only rose past 150% twice, to 200% in 1929 in the West (depression followed), and then again around 1990 (GFC followed in 2008, then ongoing emergency measures to stave off depression since then).