The journey from age of money to age of debt

Looking at the extremely low interest rates and long-term pumping liquidity into the economy, most people think, or even has a fear of possible high inflation. Probably many of you will be surprised by my concern about deflation. 

 In my opinion, the recent economic crisis, which for the normal person is far from over, arose from "the excessive demand". Strong fiscal and monetary measures merely try to offset the possible decline in demand, which would cause a reduction in prices, and thus possible deflation. 

 Most of people think that their consumption hasn't increased. However, if we look a little more on the development of consumption in the high developed countries, such as USA , Japan and the European Union, statistics speak clearly. 

Consumption increased from about 64% at the beginning of the 90's to 71% just before the current crisis, calculated as a share of GDP. That would have meant nothing if at the same time the share of wages wasn't decreased from 64 % to 61 % of GDP. These two ratios indicate the big gap between what people earn and their consumption, from 0% to 10% of GDP! 

At the beginning of the 90's it was still 64% to 64% but just before the crisis it was already 71% of the consumption to 61% of earnings. In advanced economies would therefore consumption should fall by 20% in terms of wage developments. 

And how is this contradictory trend possible at all? 

Of course the consumption, which rose above the level of wages, have to be financed somehow. This lodge primarily two sources - the decline of savings and consumption of financial profits and the growth of debt at same time.

This changes in monetary policy caused the move from the age of money over to age of debt.