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Cronkite thanks for posting this link.
someone i know from many moons ago, was saying in passing during a conversation, he said,”you know,if everyone were to pay all there debt off right now the system would collapse”. at the time,i couldnt see his reasoning,as i got older and having to have dealt with banks, and learning how a mortgage comes into existence opened my eyes. so in my observations of the banking system crisis that we have had since 07, i think that if we reversed the theory of debt resolvment en mas,to default,en mas,the end result is the same. and in this instance,both have occurred.deleveraging en mas,while defaulting en mas.
and then a new beginning drummerboy.
No problem MX2101