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It is a similar massive overhang of corporate debt throughout Asia that threatens to undermine the region's economic recovery.
Many, if not all, of the world's most pressing macroeconomic problems relate to the massive overhang of all forms of debt.
And this is happening in a world in which there is a massive overhang of private debt and where banks are still nursing damaged balance sheets.
"The massive overhang of nonperforming loans in the banking sector needs to be resolved swiftly and efficiently," said Kenneth W. Dam, the deputy Treasury secretary, at a Harvard Law School symposium at this resort town near Mount Fuji.
It just will take time to work through this massive overhang of bad debt, of low pricing and low growth, but we will work it out.
At the heart of our malaise is a massive overhang of debt left over from the property boom years, particularly the mortgages taken on by young families, commercial landlords and small businesses.
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With the commercial real estate industry being the largest industry in the U.S. by asset value, if you don't clear the market and create liquidity for transactions to happen, you end up with this massive overhang on the economy and the banks for a long period of time.
Bolland said the weather meant the retailer was now sitting on a bit more stock than expected but insisted there was "no massive overhang".
When actual demand didn't match the bullish forecasts, what remained was a massive overhang in inventory that has only recently evaporated.
In 2000, the global DRAM industry recorded $29 billion in revenue but in 2001 recorded only $10 billion in revenue because of a massive inventory overhang and a glut of manufacturing capacity.
This process has left Spain with a massive debt overhang problem: as of 2014Q1 Spain's net international investment position is a negative trillion euros.
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