The answer is from the book, The Coming Deflation by C. V. Myers
"Ultimately, every penny of every debt must be paid, if not by the borrower, then by the lender"
MyView
The sad part about this statement is the taxpayers is paying for the sins of the Wall Street. The Wall St, in the last 2 years, 2009 and 2010 makes about USD80 billion profit, one third of total profit from NYSE and given out bonuses to those that screwed up the system USD43 billion. Thanks to Fed bailout and QEs.
Look at Japan today.
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