[quote=pri_dk]The idea that debt is always bad and that more debt is always worse is simply not true.[/quote]

I agree with this 100%. But… we are so far in the hole AT THIS POINT that I would argue that almost all INCREMENTAL debt is harmful – again, at this point.

We are the equivalent of a struggling levered firm “gambling for resurrection” (to use an old LBO term) at this point. The first step is to stop gambling.

(But, hey, at least we have a printing press. Of course, to some extent it’s that very printing press that’s gotten us into this mess. Oh, sweet paradox!)