In a debt super-cycle, as the cycle advances, economic growth is increasingly driven by a combination of growth in debt and money supply. Having said that, there are obviously limits as to how much spending can be financed by debt and money. When that point is reached, you are at the end of the debt super-cycle. John Maynard Keynes called it Push on a String, when he first described the phenomenon in 1935. Nowadays, it is often called the Liquidity Trap.
