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In a recent article by David Stockman he wrote:
Credit market debt outstanding has soared from \$85 trillion to \$200 trillion.
What is he talking about? What is the itemization of this debt. The whole US debt is less than \$20 trillion, so I don't see where there could be \$200 trillion in debt.
It's the total credit market, not only US government bonds, but also debt of other countries, also corporate debt etc. See here: http://www.investopedia.com/terms/c/credit_market.asp and here: http://www.investorwords.com/8562/credit_market.html
Maybe this chart (not recent though) clarifies it a bit also: http://warisacrime.org/sites/afterdowningstreet.org/files/images/Credit%20Market%20Outstanding%20by%20Sector%2010012008_0.jpg
