The pdf files at the bottom of the page contain the reports (summary and full). It indicates an update will come this fall.
McKinsey & Company - Report Debt and deleveraging: The global credit bubble and its economic consequences - January 2010
Look at that chart that shows debt growth compared to GDP (Private and Public).
That chart probably explains the reason the Japanese Stock Market has languished the last 20 years.
Look at the UK....
Also notice the 10 year recovery period of deleveraging and the affect on GDP.
Worth a Read!!