Historic 30 year debt bubble collapses are a bitch, and there isn't much useful either side, left or right, has to say about them. It's like arguing whether to turn the wheel left or right after the car has gone off the cliff: it'd be funny if I wasn't in the car. Decimated productive capacity plus easy credit and the associated malinvestment and over-consumption equals charlie foxtrot every time.

Sociologically speaking, what I find curious is that so far the young haven't really started shooting back in this generational war. It will get interesting if and when they do.