How is capitalism like a Ponzi scheme?

The people who responded to you have a certain point of view that doesn't jive with reality. Please remember that this is the Internet and opinions are cheap and not always worth even the minimal investment necessary to post them.

Ok. So are there any conclusions to be drawn between corporate debt levels and corporate profits? I'm just looking for any type of indicators of where we're at in the business cycle.

I think you look at the overall return of the company based on its valuation. Debt service is an expense. As long as that expense is being covered and the corporation is generating a good return, there is not really an issue. It's when the overall return starts getting weak that you have issues.

So basically the P/E ratio? But wouldn't that be flawed by incorrect market valuations?

What about Return on Capital Employed?