In the book "The Ascent of Money: A Financial History of the World," author Niall Ferguson highlights a significant trend in the financial landscape of major economies. He points out that the banking assets, primarily represented by loans, have reached a level that is approximately 150 percent of the total GDP of these countries. This indicates a substantial reliance on borrowing and lending compared to the actual economic output.

This high ratio of banking assets to GDP suggests that financial systems are increasingly interwoven with the broader economy. It raises concerns about sustainability, risk management, and potential financial instability, as high levels of debt can lead to vulnerabilities during economic downturns. Ferguson’s analysis provides a critical perspective on how financial systems operate and their implications for global economic health.