Nope... not necessarily. Not when hedge funds and speculative parts of banks create virtual imaginary money. Modern capitalism is NOT a zero sum game.

It may be logical yes but it's not how it works right now. It's how it worked when the gold standard was around...

I wish it was a zero sum game, but it's not.

I can't upvote this enough. The balance sheet has two sides. The world is not in debt to aliens. Some of the debt is 'savings' in the ordinary sense: if people accumulate a portfolio of government bonds for their pension for example. But a lot of it is the accumulated wealth of the very wealthy.