Do you honestly not understand that much of our debt crisis is tied to the bailouts (of all sorts)? Do you not understand that, if not for the bailouts, our public and private debt levels would be far, far lower?
We do not have a liquidity crisis — we have a SOLVENCY crisis. Until people understand that fact, we will be forced to endure a grinding, never-ending recession/depression with a worsening debt situation.
Name a single country that imploded, and never came back, because of deflation.
