It all makes sense, except for the part where he suggests that printing money and inflation are the answer to our problems. I think default and deflation would be preferable in the medium-to-long term, especially to workers, but workers do not have a voice in these matters, unfortunately.
We are certainly not out of the woods, and I find it funny that some think we have avoided catastrophe because of all the bailouts and manipulations. IMHO, those are short-term, temporary solutions to much bigger problems.
