American business appears to be hung over on a massive debt fest from before the financial crisis. Debt Overhang to be more specific. It's so bad, it's causing real investment which in turn generates real jobs for the real economy which generates real growth... to be muted. One problem, the declining values of assets, specifically commercial real estate.

Federal Reserve Bank of Cleveland researcher Filippo Occhino delves deep, complete with crayons, on how debt overhang is negatively impacting business investment.

The below video explains debt overhang in simple terms, real simple, must watch simple.

Turning to adult versions of crayons, here is Occhino's graph of assets to business debt. Notice the asset to debt ratio historic high. (To read las matemáticas version of the research, pdf here).