Am I confused here? The implication of the headline is that the market is over-leveraged (and thus presumably unstable). The numbers in the chart show the opp

Am I confused here? The implication of the headline is that the market is over-leveraged (and thus presumably unstable). The numbers in the chart show the opposite: the debt-to-market-value ratio is very clearly below its long term trend. I mean, yes, the debt is at a "record high". But so is the market's value!