[The One and Only...]

While I agree that the insustainable amount of credit expansion is going to ruin the economy, I disagree on the issue of re-regulating international capital between businesses. The gains of global capital exchange far outweigh the drawbacks, as it moves toward creating a more stable currency.

The problem is, as was pointed out, we now have the capability to borrow like crazy from foreign banks.

Passing a balanced-budget amendment - or at least preventing the government from taking loans from foreign banks - is clearly what is needed here. Quite frankly, we should push towards a 100% reserve requirement, but doing this immediately would ruin the economy as well.

In any case, it's good to see the credit expansion = boom/bust theory getting some exposure. That is, for the most part, what I accept as causing the boom/bust business cylcles.